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Valentin [98]
3 years ago
11

For July, White Corporation has budgeted production of 6,000 units. Each unit requires 0.10 direct labor-hours at a cost of $8.5

0 per direct labor-hour. How much will White Corporation budget for labor in July?
a.$51,000
b.$5,160
c.$600
d.$5,100
Business
1 answer:
Sedbober [7]3 years ago
6 0

Answer:

d) $5100

Explanation:

Simply calculate per unit labor cost.

This can be done as follows

Per unit labor cost = hours used by unit * per hour rate

So,     Cost = 0.1 * 8.50 =  $0.85/ labor cost per unit produced.

Now multiply per unit cost with total units budgeted

Total Labor budget = 6000 * 0.85  =  $5,100

Hope that helps.

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Answer:

An adjustment to retained earnings is necessary when when there is a change from LIFO to FIFO.

Calculating the effect on retained earnings:

- In the year 1 company followed LIFO and recorded ending inventory at $177500. Had it followed FIFO it would have recorded at $195000. So there would be increase in income of $17500 (195000 - 177500).

- In year 2 it followed LIFO and recorded opening inventory at $177500 and closing inventory at $355000 and thereby recording Net closing stock of $177500 (355000 - 177500). Had it followed FIFO it would have recorded a net stock of $195000.(390000-195000). So there would be increase in income by of $17500 (195000 - 177500).

So in total of 2 years there would be an increase of $35000 Net income i.e., Retained earnings and increase in stock value of $35000.

The journal entry is:

Inventory A/c Dr $35,000

To Retained earnings A/c $35,000

Explanation:

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3 years ago
A __________ is a profit-seeking organization that receives deposits from individuals and corporations and uses some of these de
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Answer:

Commercial bank

Explanation:

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Commercials are profit-making institutions. Although their primary function revolves around accepting deposits and issuing out loans, they also perform other duties such as;

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3 years ago
"_____ are groups of concerned citizens who band together to try to influence the business practices of specific industries, bus
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Advocacy groups are groups of concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions.

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The advocacy groups that work this way are the ones who are a group of concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions. This is important for consumer rights for this sector to be strong.

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An aging of a company's accounts receivable indicates that $8,000 are estimated to be uncollectible. If Allowance for Doubtful A
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Answer:

c. debit to Bad Debts Expense for $6,900.

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