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tangare [24]
3 years ago
14

A summary of the time tickets for the current month follows:

Business
1 answer:
iVinArrow [24]3 years ago
7 0

Answer:

Entry is given below

Explanation:

Entry for factory labor cost

DATE          ACCOUNT                         DEBIT        CREDIT

DEC 31     Work in Progress(w)          $97,780

                Factory overhead              $6,340

                 Wages payable                                     $104,120

Working

Work in progress =  3,860+4,300+24,500+18,600+7120+7400+32,000

Work in progress = 97,780

NOTE: Work in progress is sum of all direct labor cost

Factory Overhead = all indirect labor cost which is only $6,130

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3 years ago
Ace Company is a retail store. Due to competition, it is having trouble selling its products. Thus, inventory has been building
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Answer:

c. The management of Ace should consider the effect of slow moving inventory on its liquidity.

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3 0
3 years ago
The amount of money deposited 25 years ago at 5% interest that would now provide a perpetual payment of $15,000 per year is clos
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4 years ago
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3 years ago
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3 years ago
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