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777dan777 [17]
3 years ago
12

Sunland Company purchases $50,400 of raw materials on account, and it incurs $61,300 of factory labor costs. Journalize the two

transactions on March 31, assuming the labor costs are not paid until April.
No. Date Account Titles and Explanation Debit Credit
a) Mar. 31

b) 31
Business
1 answer:
lisabon 2012 [21]3 years ago
6 0

Answer:

A. Mar 31

Dr Raw materials $50,400

Cr Account pay $50,400

B. 31

Dr Factory labour $61,300

Cr Factory wages $61,300

Explanation:

Preparation of the Journal entries for Sunland Company

A. Since we were told that the company purchases the amount of $50,400 of raw materials on account this means that the transaction will be recorded as:

Mar 31

Dr Raw materials $50,400

Cr Account pay $50,400

B. Based on the information given we were told that the company incurs the amount of $61,300 of factory labor costs this means that the transaction will be recorded as:

31

Dr Factory labour $61,300

Cr Factory wages $61,300

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The researchers at Beans Inc., a coffee manufacturing company, developed a new variety of high-quality ground coffee. The new va
chubhunter [2.5K]

Answer:

competitive advantage

Explanation:

Based on the information provided within the question it can be said that this is an example of communicating a product's competitive advantage.  This term refers to a specific condition that allows a company to be placed in a favorable or superior position within the industry which it is in. Which in this case having high quality coffee at an extremely low price when compared to the competition puts it in this favorable position.

3 0
3 years ago
Shawnee Hospital installs a new parking lot. The paving cost $30,000 and the lights to illuminate the new parking area cost $15,
Zarrin [17]

Answer: d. $45,000 should be debited to Land Improvements.

Explanation:

Land improvements records any moderation to land asset that is expected to add to its value and lasts for more than a year.

The paving and lighting of the parking area will add value to the area and will last longer than a year so both should go to the Land improvement account. As this account is an asset account, it will be debited when increased:

= 30,000 + 15,000

= $45,000

6 0
3 years ago
The cost incurred by a firm through the foregone earnings on capital invested is a(n):
Yuri [45]
The answer is sunk cost
This incurred cost usually could not be recovered in any way.
For example, let's say for the business operation, you make  a prepaid rent for a building for the whole year.
In this situation, the prepaid rent could be considered as a sunk cost because it's already incurred and not recoverable anymore
5 0
3 years ago
Juanita receives her paycheck and knows that her gross pay and federal tax are correct. Using the fact that Social Security tax
tensa zangetsu [6.8K]

Answer:

a. The net pay is correct.

Explanation:

Suppose the missing part of the question which is the gross pay and the federal tax is 1020.00 and 107.00 respectively.

Then, Social Security tax 6.2% of the gross pay = \dfrac{6.2}{100}\times 1020

Social Security tax 6.2% of the gross pay  = 0.062 × 1020

Social Security tax 6.2% of the gross pay  = $63.24

the Medicare tax is 1.45% of gross pay = \dfrac{1.45}{100} \times 1020

the Medicare tax is 1.45% of gross pay = 0.0145  × 1020

the Medicare tax is 1.45% of gross pay =  $14.79

the state tax is 19% of federal tax = \dfrac{19}{100} \times 107

the state tax is 19% of federal tax = 0.19 × 107

the state tax is 19% of federal tax = $20.33

Hence, to determine if Juanita's net pay is correct, we have the summation of all our estimated figures minus the gross pay.

i.e

Juanita's net pay = $1020 - $(107 + 63.24 + 14.79 + 20.33)

Juanita's net pay =  $1020 - 205.36

Juanita's net pay =  $814.64

3 0
3 years ago
Alamanzo Devices, Inc., in Oklahoma City is opening a location in Brazil. Managers from Oklahoma City will staff key positions i
alekssr [168]

Answer:

ethnocentric

Explanation:

Ethnocentric is one the three major approaches of international staffing. Others are polycentric and geocentric.

Ethnocentric revolves around the idea that the parent company staff subsidiaries in foreign countries with workers from the parent`s company.

The staffs transferred to this foreign subsidiaries normally fill key management position. And the major reason for using parent`s company staff is to make sure that the parent has control of the company culture and business interest in the foreign subsidiary.

So in this case, Alamanzo Devices, Inc. is using ethnocentric approach of international staffing.

5 0
3 years ago
Read 2 more answers
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