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Likurg_2 [28]
3 years ago
5

A summary of the time tickets for August follows:

Business
1 answer:
Alex777 [14]3 years ago
7 0

Answer and Explanation:

To calculate ending work in progress we use the formula:

Ending WIP = Beginning WIP + Manufacturing costs - Cost of goods manufactured

Debit ($) Credit ($)

Work-in progress $39,200(Dr)

Wages payable:

Job No. 321 $11,000(Cr)

Job No. 329 $9,200(Cr)

Job No. 336 $5,000(Cr)

Job No. 342 $8,300(Cr)

Job No. 346 $5,700(Cr)

Work-in progress $8,000(Dr)

Manufacturing overhead

$8,000(Cr)

Work-in progress $27,440(Dr)

Factory overhead ($39,200 * 70/ 100)

$27,400(Cr)

Work in progress refers to goods that are yet to be finished but have passed raw material stage as they have been partly processed. The formula stated above is used to calculate ending work in progress however we just made journal entries to reflect costs and work in progress.

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Bade Midwifery's cost formula for its wages and salaries is $1,230 per month plus $240 per birth. For the month of October, the
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Answer:

wages and salaries activity variance= $1,000 unfavorable

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Giving the following information:

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Answer:

a

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Problem 14-04 Stock Repurchase A firm has 5 million shares outstanding with a market price of $15 per share. The firm has $15 mi
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Answer:

$60 million

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