Answer:
MW Company
Activity rate for order process = $54,120/660
= $82 per order
Explanation:
a) Data and Calculations:
Production = 16,500 units
Direct labor = 19,800 hours
Machine hours = 21,450 hours
No. of orders = 660
No. of shipments = 165
Order-processing cost pool = $54,120
Shipping cost pool = $14,025
Assembly cost pool = $71,280
Activity rate for order process = $54,120/660
= $82 per order
b) MW Company uses an activity-based costing system to identify its activities into cost pools and assign the cost of each activity pool to the products and services according to their actual consumption of the activities. The activity-based costing technique provides a more accurate method for determining the costs of products and services. As a more accurate method for pricing decisions than other traditional methods, activity-based costing technique increases management's understanding of overheads and cost drivers and makes activities that are costly and non-value adding to become more visible, allowing managers to reduce or eliminate them, because these activities add costs to the production system.
d) $16.92
Each paycheck is $22,000/26 times per year = $846.15
Your company will match up to 2% of this. .02*$846.15= $16.92
You should contribute this amount each pay period in order to take full advantage of the "company match" because your company will add that much money into your retirement account on top of what you pay in.
The best course of action is to remove the reponses that were not intended for the site. I would also reach out to those who posted the inappropriate remarks and give them a warning regarding the comments. If they make those comments again or anything of inappropriate nature, they will be terminated.
Answer:
Clooney Corp.
Petty Cash Journal Entry
<em>Sr. No Particulars Debit Credit</em>
1 Petty Cash $200
Cash $200
Establishing Petty Cash
2. (Employee Name;s ) Entertainment Expenses $25 Dr
Petty Cash $ 25 Cr
Recording employee petty cash expenditures
Credit Card Expenditures Entries
1. Postage, $44; Dr
Delivery, $69; Dr
Supplies expense, $34 Dr
Credit Card Payable 147 Cr
Credit Card Payable is a liability and appears in the balance sheet . It has to be paid in the future.
2. Credit Card Payable 147 Dr.
Cash 147 Cr
When the liability is paid this entry is made.
