1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sati [7]
3 years ago
8

job cost journal entries prior to the beginning of 2016, lowe company estimated that it would incur $264,000 of manufacturing ov

erhead cost during 2016, using 24,000 direct labor hours to produce the desired volume of goods. on january 1,2016, beginning balances of materials inventory, work in process inventory, and finished goods inventory were $42,000, $-0-, and $64,500, respectively. required prepare general journal entries to record the following for 2016. a. purchased materials on account, $58,500.
Business
1 answer:
saw5 [17]3 years ago
4 0

Answer:

raw materials inventory    58,500 debit

                      accoutns payable       58,500 credit

Explanation:

Required prepare general journal entries to record the following for 2016. a. purchased materials on account, $58,500.

The raw materials inventory will increase for 58,500 which is the amount purchased. As the materials are an asset, we will debited.

We will also use an account to represent the debt we have with our providor.

We have an "account to pay" --> account payable

As this is a debt, we have a liability. Thus we credit to increase it-

You might be interested in
Explain instances which render leadership unnecessary
Scilla [17]

Leadership is not needed when:

  • It will make processes inefficient due to time wasting
  • It is being used to oppress people
  • Subordinates don't need leadership

Leadership is usually quite good as it can galvanize subordinates to be better workers due to better organization as well as inspiration.

There are instances where it is not needed however such as when:

  • It slows down processes - sometimes leaders will need to give permission for a subordinate to do something. If this thing is time conscious and the leader is not available to give their ascent, the whole process could suffer.

  • It oppresses people - when a leader is an oppressive one and acts in such a way that their subordinates suffer, that leadership is not needed.

  • Subordinates are fine without it - sometimes workers have the necessary skills and experience to operate independently without a leader. In such a case, a leader is not needed.

In conclusion, while a leader is quite important in many ways, there can be situations where it is best that they are not used.

<em>Find out more at brainly.com/question/24150490.</em>

3 0
2 years ago
what are the eight areas of wellness and how can they can they be incooprated into someones daily life
zimovet [89]

Answer:

emotional, spiritual, intellectual, physical, environmental, financial, occupational, and social. Wellness can be compromised by lack of support, trauma, unhelpful thinking styles, chronic illness/disability, and substance use.

Explanation:

6 0
3 years ago
In order to implement contractionary policy, the government and central bank must _____ goverment spending _______ taxes, and __
Vedmedyk [2.9K]

Answer:

increase, decrease, decrease

Explanation:

3 0
3 years ago
Assume the following information for a company with only two products: Product A Product B Total Sales $ 600,000 $ 400,000 $ 1,0
Mice21 [21]

Answer: $406,000

Explanation:

The following can be deduced from the question:

Total sales = $1,000,000

Variable cost = $300,000

Contribution = Sales - Variable cost

= $1,000,000 - $300,000

= $700,000

Contribution ratio = $7000,00/$1,000,000 × 100 = 70%

Fixed cost = $580,000 × 70%

= $580,000 × 0.7

= $406,000

8 0
3 years ago
What is the distinction between sales allowances and sales discounts?
kiruha [24]

A sales return occurs when a customer returns merchandise for a refund. A sales allowance is when they keep the problematic item but you reduce the price for them. If customers purchase with credit and make an early payment, a sales discount is a price reduction.

A sales discount is a price decrease that the seller offers in exchange for the buyer paying the vendor in full and on time. This strategy is frequently applied when a seller needs money right away.

A sales discount is a lower price that a company offers on a good or service. Find out how to add discounts to invoices. A sales discount, usually referred to simply as a "discount," offers clients of a business a lower price on one or more of the goods or services being provided.

Learn more about sales discount here

brainly.com/question/7459025

#SPJ4

3 0
1 year ago
Other questions:
  • Alexandria has recently begun using social media, and frank asks you what can be done with the data that is being generated. wha
    9·2 answers
  • If nominal gdp is $12 trillion and real gdp is $10 trillion, then the gdp deflator is
    9·1 answer
  • Many people love Wal-Mart and Microsoft.  Many people hate these companies and accuse them of acting like monopolies.  What is w
    7·1 answer
  • ACME Confetti Corporation needs to finance $20 million for a plant expansion building project. They've decided to issue common s
    6·1 answer
  • _____ is a direct inducement offering extra incentives anywhere along the marketing route to enhance the movement or accelerate
    15·1 answer
  • What is the future value of a $500 annuity payment over eight years if interest rates are 14 per 14 percent
    11·1 answer
  • Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following:
    13·1 answer
  • Sam, the owner of a toy store, dies unexpectedly at the age of 56. His lifelong business associate, Paul, is appointed the admin
    5·1 answer
  • Kamal reproduces Lorena’s copyrighted work "Musica" without paying royalties. Kamal is most likely excepted from liability for c
    12·1 answer
  • Describe the slope of the supply curve. How does the slope reflect the law of supply?
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!