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DochEvi [55]
2 years ago
15

The following events took place at a manufacturing company for the current year: (1) Purchased $95,000 in direct materials. (2)

Incurred labor costs as follows: (a) direct, $56,000 and (b) indirect, $13,600. (3) Other manufacturing overhead was $107,000, excluding indirect labor. (4) Transferred 80% of the materials to the manufacturing assembly line. (5) Completed 65% of the Work-in-Process during the year. (6) Sold 85% of the completed goods. (7) There were no beginning inventories. What is the journal entry to record the direct labor costs for the period? A. Labor Inventory XXX Wages Payable XXX B. Work-In-Process Inventory XXX Wages Payable XXX C. Manufacturing Overhead Control XXX Wages Payable XXX D. Wages Expense XXX Cash XXX
Business
1 answer:
raketka [301]2 years ago
5 0

Answer: B. Work-In-Process Inventory XXX Wages Payable XXX

Explanation:

The method of accounting for Direct labor during production is to apportion it to Work in Process inventory because as a direct cost, it should form a part of the cost of producing the good.

The Work in Process Inventory will therefore be debited to reflect an increase and the Wages Payable will be credited to reflect that the wages are a liability owed to workers.

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Mr. and Mrs. Pitt filed a joint tax return in 2017. The couple divorced in 2018. The IRS audited their 2017 return and determine
AURORKA [14]

Answer:

C. Because the couple is divorced, the IRS must apportion the deficiency between Mr. and Mrs. Pitt based on their relative contribution to their 2015 taxable income.

Explanation:

Because Mr and Mrs Pitt filed for a joint tax return in 2017 and got divorced in 2018 and IRS audited their tax return and found that they both underpaid their tax, the IRS must apportion the deficiency 50-50 between both of them based on their separate returns.

3 0
3 years ago
A moderately-priced jewelry store is trying to differentiate itself from other jewelry stores. The store prices products somewha
AlekseyPX

Answer:

The correct answer is: monopolistic competition.

Explanation:

There is monopolistic competition in markets that have many companies offering similar products or services. Restaurants, grocery stores, and clothing stores, for example. Such similar products and services are not ideal substitutes for each other. In these industries the barrier to entry and exit is low.

8 0
3 years ago
A thief steals an ATM card and must randomly guess the correct three​-digit pin code from a 9​-key keypad. Repetition of digits
ololo11 [35]

Answer:

The thief has a 0.11% probability of hitting the pin code on the first try.

Explanation:

Simply, if the ATM card has a 3-digit code that can be repeated, and the board has 9 numbers (for example, from 1 to 9), we must start from the smallest number that could be formed with these numbers to the highest number that these numbers could also compose, which in the case would be 111 and 999. Then, 889 different numbers could be formed (it is the distance between 111 and 999), with which the possibility of hitting the key to the first attempt would be 1 in 889 times, or 1/889.

To take the probability to a percentage, we must know that 889 / 8.89 gives 100. Therefore, dividing 1 / 8.89 we will know the percentage of probabilities of hitting the key on the first attempt: 1 / 8.89 = 0.11.

This shows us that the thief has a 0.11% probability of hitting the key on the first try.

8 0
3 years ago
Ellie's Deli offers good sandwiches and fast service to its lunchtime customers from a nearby university. It also delivers the s
topjm [15]

Answer:

occasion

Explanation:

Occasion segmentation refers to dividing your potential market into target groups based on different occasions that they might purchase your products. This segmentation technique is used when target groups are defined based on specific times that they can access or purchase your products.

In this case, the same products are offered to different target groups depending on when they will be available. Ellie sells fast food to university students during lunchtime (form Monday to Friday) and offers those same products but with a different packaging to its catering clients for special events.

3 0
3 years ago
In the context of employee engagement, it is observed that the highly engaged employees feel a deep connection to their company.
Tju [1.3M]
Its A hope this helpsss
7 0
2 years ago
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