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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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Identifying and Classifying Balance Sheet and Income Statement Accounts
Anvisha [2.4K]

Answer:

Staples, Inc.

a. Indication of whether each account appears on the balance sheet (B) or income statement (I):

Staples, Inc. ($ millions) Amount Classification

Sales                                                 $24,381 (I)

Accumulated depreciation                 4,067 (B)

Depreciation expense                           408 (I)

Retained earnings                              6,694 (B)

Net income (loss)                                   (211) (I)

Property, plant & equipment, net      6,030 (B)

Selling, general and admin expense 4,884 (I)

Accounts receivable                            1,816 (B)

Total liabilities                                     6,144 (B)

Stockholders' equity                          6,136 (B)

b) Total Assets = $3,779

Total Expenses = $5,292

c) Net Loss Margin = -0.87%

Total Liabilities-to-Equity Ratio = = 100.13%

Explanation:

a) Data and Calculations:

Total assets:

Accumulated depreciation                (4,067) (B)

Property, plant & equipment, net      6,030 (B)  

Accounts receivable                            1,816 (B)

Total assets  =                                  $3,779

Total Expenses:

Depreciation expense                           408 (I)  

Selling, general and admin expense 4,884 (I)

Total expenses =                              $5,292

Net profit (loss) margin = $(211)/ $24,381  * 100 = -0.865%

Total  liabilities-to-equity ratio = total liabilities/stockholders' equity * 100

= $6,144/$6,136 * 100

= 100.13%

3 0
2 years ago
If you were a systems administrator for a data center, what steps would you take to create and manage a data center to store the
Dafna11 [192]

Answer:

As a system administrator, I would take the following steps :

1. Perform an energy audit to establish a baseline.

2. Choose environmentally friendly components as well as attributes.

3. Make Data Center Energy Consumption Lowering a priority.

4. Improve the cooling of data centers.

5. Create data centers that are modular.

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2 years ago
Kenneth Hill Inc. claims to be an employee-centered company. It has created a system of management wherein supervisors will have
horsena [70]

Answer:

This type of organizational behavior can be described as conflict theory.

Explanation:

Conflict theory was given by Karl Marx , according to which social order is maintained through power and domination rather than consensus or conformity . This theory is based on the premise that individuals and groups in a society or in this case supervisors and their teams are working to maximize their own benefits.

6 0
3 years ago
See the production possibility tables for Marketopia and Econlandia below. Marketopia Econlandia Cookies Pies Cookies Pies 0 18
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Explanation:

The bakery with the comparative advantage in any of the goods is the one that has a lower opportunity cost in making it.

Marketopia.

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Opportunity cost of pies = 30/18 pies = 1.67 cookies

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Opportunity cost of Cookies = 9/90 pies = 0.1 pies

Opportunity cost of pies = 90/9 pies = 10 cookies

<em>It is shown that Marketopia has a comparative advantage in the production of pies because the opportunity cost of such is 1.67 cookies as opposed to Econladia which is 10 cookies. </em>

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An effect of changing legislation on human resources professionals is that: Multiple select question. they must update company H
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They must update company HR policies and procedures is An effect of changing legislation on human resources professionals.

<h3>What is human resources?</h3>

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Thus, option A is correct.

For more details about human resources, click here:

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