What is one difference between what a Computer Programmer and an Information Support Specialist does?

The Assembly Department produced 1,000 units of product during March. Each unit required 1.25 standard direct labor hours. There

frutty [35]

Answer:

Debit Work in process for $15,625

Debit Direct labor time variance for $625

Credit Direct labor rate variance for $650

Credit Wage payable for $15,600

Explanation:

Before preparing the journal, the following calculations are done first:

Wage payable = Actual hours * Actual rate per hour = 1,300 * $12 = $15,600

Direct labor time variance = (Actual hours - Standard hours) * Standard direct labor rate = (1,300 - (1,000 * 1.25)) * $12.50 = $625 Unfavorable

Note: Direct labor time variance is Unfavorable because Actual hours is greater than Standard hours.

Direct labor rate variance = (Actual rate - Standard rate) * Actual hours = ($12 - $12.50) * 1,300 = -$650 Favorable

Note: Direct labor rate variance if Favorable because Actual rate is lower than the Standard rate.

Work in process = Wage payable + Absolute value of direct labor rate variance - Direct labor time variance = $15,600 + $650 - $625 = $15,625

The journal entries will now look as follows:

Date Particulars Debit ($) Credit ($)

Mar. 31 Work in process 15,625

Direct labor time variance 625

Direct labor rate variance 650

Wage payable 15,600

(To record the direct labor in the Assembly Department.)

4 0

3 years ago

On January 1, 2018, Plummer Company issued $250,000 of 4%, five-year bonds payable at 102. Plummer Company has extra cash an

Anna [14]

Answer:

1. Carrying amount = $250,000

2. Cash paid to retire bond = $225,000

3. Gain on the retirement = $25,000

Explanation:

1. What is Plummer Company's carrying amount of the bonds payable on the retirement date?

Carrying amount of a bond payable on the retirement date is its par value amount.

Therefore, Plummer Company's carrying amount of the bonds payable on the retirement date is $100 par value for 2,500 units with a total carrying amount of $250,000.

2. How much cash must Plummer Company pay to retire the bondspayable?

Units of bond = $250,000/$100 = 2,500 units.

Since Plummer pays the market price of $90 to retire the bonds, cash amount Plummer Company must pay to retire the bonds payable can be calculated as follows:

Cash paid to retire bonds = 25,000 * $90 = $225,000

3.Compute Plummer Company's gain or loss on the retirement of the bonds payable.

Gain (loss) = Carrying amount - Cash paid on retirement = $250,000 - $225,000 = $25,000

7 0

3 years ago

Under Life Solicitation Rule, the definition that applies to a consumer that is most concerned about death benefit proceeds to b

Fiesta28 [93]

Answer:

life insurance net payment cost index

Explanation:

The accidental death benefit is referred to as a payment due to the sole beneficiary of an accidental death insurance policy. The accidental death benefit mostly is an amount paid which adds to the standard benefit payable if

and only if the insured died of natural causes e.g old age, earthquake or tsunami etc.

Depending on the issuer of the policy, the accidental death benefit may extend up to a year after the initial accident occurred, so long as the accident led to the insured's death.

6 0

3 years ago

Labor unions are restrained in their wage demands because Multiple Choice

MAVERICK [17]

Answer:

the labor demand curve is downsloping is the correct option is

Labor unions are restrained in their wage demands because the labor demand curve is downsloping

8 0

3 years ago

1. Which of the following courses in high school would be most helpful for a person wanting a

den301095 [7]

Accounting is the course which will be most helpful.

Accounting is one of the courses that are offered in high school along side others courses such as Business management, Consumer education, Entrepreneurial skills and so on in the "business section".

Finance means the act of managing of money by individuals, governments or large companies. individual with this skills are highly sought for to help the organization manage its resources effectively.

In conclusion, Accounting teaches a wide range of money management skills, how to record transaction for future purpose, so, the most helpful course for a person wanting a career in finance is "Accounting"

Learn more about this here

brainly.com/question/4992099

3 0

3 years ago