1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Eva8 [605]
3 years ago
15

Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicat

e that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $55,000, $65,000, and $80,000, respectively. In addition, work in process at the beginning of the period for Department 1 totaled $75,000, and work in process at the end of the period totaled $60,000. The journal entry to record the flow of costs into Department 1 during the period for applied overhead is:____________
Business
1 answer:
marshall27 [118]3 years ago
7 0

Answer:

The journal entry to record the flow of costs into Department 1 during the period for applied overhead is

Work In progress Account $150,000 (debit)

Manufacturing Overhead Account $150,000 (credit)

Explanation:

Applied overheads are determined by multiplying the Actual Activity (example hours) and Budgeted Overhead Rate. In Our question this figure is given as $150,000.

When Applying the Overhead to a product:

De-recognise the amount applied by reducing the Overhead account balances and Recognise the costs in the Work In Process Account by increasing it with amount applied.

You might be interested in
Sharon would make an adjustment entry to __________ to record the $500 her company received from a customer to perform future se
makkiz [27]

Answer:

the ending balance of the unearned revenue is $3,225

Explanation:

The computation of the ending balance is shown below:

= Amount received from the customer for performing the future service + balance in the account

= $500 + $2,725

= $3,225

Therefore the ending balance of the unearned revenue is $3,225

The above formula should be applied

5 0
3 years ago
Gridiron Merchandising anticipated selling 30,000 units of a major product and paying sales commissions of $8 per unit. Actual s
madam [21]

Answer:

C. $13,100U.

Explanation:

The cost variance is given by the difference between the actual cost of commissions and the projected cost of commissions of 30,000 units at $8 each:

V = \$253,100-(\$8*30,000)\\V=\$ 13,100\ U

Since the actual cost is higher than the anticipated cost, the balance is unfavorable.

Gridiron would report a cost variance of: C. $13,100U.

8 0
3 years ago
The price a property will bring when neither the buyer nor the seller is acting under duress and it has been on the market for a
PilotLPTM [1.2K]

Answer:

The answer is arms- length transaction

Explanation:

The price a property will bring when neither the buyer nor the seller is acting under duress and it has been on the market for a reasonable length of time is defined as arms- length transaction

7 0
3 years ago
If you draw a card with a value of three or less from a standard deck of cards, I will pay you $146. If not, you pay me $24. (Ac
Rainbow [258]

Answer: Expected value = $2.034

Explanation:

Total outcome = 52

Favorable Outcome = 8

Probability of drawing a card with a value of three or less = \frac{Favorable\ outcome}{Total\ outcome}

= \frac{8}{52}

=  \frac{2}{13}

Probability of drawing a card with a value of more than three = 1 -  \frac{2}{13}

=  \frac{11}{13}

Hence,

Expected value = 146 \times \frac{2}{13} + (-24) \times \frac{11}{13}

= 22.338 - 20.304

= $2.034

7 0
3 years ago
Calculate Payroll
musickatia [10]

Answer:

A.1830

B.$1397.75

Explanation:

A.Gross pay

Formula for Gross pay

Gross pay = regular pay + overtime pay

= (40*30)+(14*30*1.5)

=1200+630

= $1830

Part B

B.Net pay

Formula for Net pay

Net pay = gross pay – social security tax – medicare tax – federal income tax

= 1830-(1830*6.0%)-(1830*1.5%)-295

=1830-109.8-27.45-295

= $1397.75

7 0
3 years ago
Other questions:
  • Kristina is working at a job that she finds boring and unmotivating. one day she initiates a search for a new job. what kind of
    5·2 answers
  • The producer is spending as little as possible per item produced. what word describes that kind of cost management?
    9·2 answers
  • In order to calculate marginal cost, the change in ______________ is divided by the amount of change in quantity.
    11·1 answer
  • Under the georgia safety responsibility law, if you cannot satisfy a claim filed against you for damages resulting from a motor
    10·2 answers
  • The Woods Co. and the Speith Co. have both announced IPOs at $63 per share. One of these is undervalued by $11, and the other is
    6·1 answer
  • What costs and revenues do economists include when calculating profit that accountants don’t include? In addition to the implici
    13·1 answer
  • Sleep Cheap is a private camping ground near the Boulder Peak Recreation Area. It has compiled the following financial informati
    11·1 answer
  • What is our planet called?
    7·2 answers
  • Carlo's company hired a contractor in Venezuela to design and build a plant, supply the process technology, provide the producti
    13·1 answer
  • 79% of employees believe that it is important to have what in the workplace?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!