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
saul85 [17]
3 years ago
7

During the period, labor costs incurred on account amounted to $175,000, including $150,000 for production orders and $25,000 fo

r general factory use. In addition, factory overhead charged to production was $32,000. The entry to record the direct labor costs is a. Work in Process150,000 Wages Payable150,000 b. Wages Payable150,000 Work in Process150,000 c. Wages Payable175,000 Work in Process175,000 d. Work in Process175,000 Wages Payable175,000
Business
1 answer:
alekssr [168]3 years ago
5 0

Answer:

d. Work in Process 175,000 Wages Payable 175,000

Explanation:

Production Orders and General factory expenses are all manufacturing costs and are included in Work In Process Cost for Inventory Valuation. Since the wages have not been paid yet, a Liability account - Wages Payable has to be credited in total of amount due.

You might be interested in
A businesswoman is upset with her husband. She channels this anger into her work and increases her productivity dramatically. Th
MArishka [77]

Answer:

Sublimation

Explanation:

Sublimation is the process of channelling negative, socially-unacceptable feelings, toward productive, or socially-acceptable abilities.

The concept was developed by Freud, especially in his work "Madness and Civilization".

Freud basically said that sublimation is what allowed humans to live in society, however, he also warned that sublimation did not always work, and some people were less likely to behave than others, leading to for example, the presence of criminality and antisocial behaviour.

6 0
3 years ago
Just-in-time inventory (JIT) systems: a. are used only by manufacturing firms. b. provide a buffer stock of inventory for a comp
Annette [7]

Answer:

The correct answer is d. are used to reduce inventory holding costs.

Explanation:

The Just-in-time inventory (JIT) system is a stock management system where stock is received when needed for production (stock received just in time for production). This inventory strategy increases efficiency and decreases waste by receiving goods only as they need them for the production process, which reduces inventory costs. However its effectiveness lies in accurate demand forecast.

8 0
3 years ago
Bella Donna Company has 100,000 shares of $3 par common stock issued and outstanding as of January 1, 2018. The shares were orig
kondaur [170]

Answer:

The balance in the paid in capital in excess of par will be $478,950.

Explanation:

As 4,210 shares is retired and each shares carries a $5 Paid-in capital in excess of par ( Issued price - Par value = $8 - $3 = $5), the retirement of 4,210 shares will include the clear of 4,210 x 5 = $21,050 in Paid-in capital in excess of par.

The beginning balance of the Paid-in capital in excess of par account = (8 -3) x 100,000 = 300,000

=> The remaining balance of the Paid-in capital in excess of par account = 500,000 - 21,050 = $478,950.

So, the answer is $478,950.

8 0
3 years ago
Listed below are five technical accounting terms. Each of the following statements describes one of these technical terms. For e
krok68 [10]

Answer:

a. Incremental analysis.

b. Sunk cost.

c. Relevant information.

d. Opportunity cost.

e. Joint products.

f. Out-of-pocket cost.

g. Split-off point.

Explanation:

a. Incremental analysis: examination of differences between costs to be incurred and revenue to be earned under different courses of action.

b. Sunk cost: a cost incurred in the past that cannot be changed as a result of future actions. Sunk cost can be defined as a cost or an amount of money that has been spent on something in the past and as such cannot be recovered.

c. Relevant information: costs and revenue that are expected to vary, depending on the course of action decided on. Hence, relevant cost are relevant for decision-making purposes but not sunk costs.

d. Opportunity cost: the benefit foregone by not pursuing an alternative course of action. Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.

e. Joint products: products made from common raw materials and shared production processes.

f. Out-of-pocket cost: a cost yet to be incurred that will require future payment and may vary among alternative courses of action.

g. Split-off point: the point at which manufacturing costs are split equally between ending inventory and cost of goods sold. Thus, it give rise to joint products that emerge from the same raw materials and a shared manufacturing process.

6 0
3 years ago
Sam student sends for a law school catalog from ivory towers university. according to the catalog, the law school applications a
7nadin3 [17]

If Sam had followed the guidelines in the college catalog, then there will be a valid contract that will be established as the school is likely to bound itself in honoring its obligations that are set forth in the college catalog. The correct answer is likely b.

5 0
3 years ago
Other questions:
  • _____ is defined as the preference given to protected group members in hiring and promotion over more qualified or more experien
    12·1 answer
  • Nick has set up his steel factory near a community lake. The waste from his factory is directly thrown in the lake and is causin
    5·1 answer
  • The foreign market entry mode in which the manufacturer utilizes a local third party for the export transaction is known as:
    9·1 answer
  • What three factors influence the value of a country’s currency?
    15·2 answers
  • Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 30 chicken breasts per hour, while Tom
    9·1 answer
  • Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact that _
    13·1 answer
  • If a company had a contribution margin of $1,000,000 and a contribution margin ratio of 40%, total variable costs must have been
    6·1 answer
  • Enerico contributes $100,000 cash in exchange for a 40% interest in the calendar year ABC LLC. This year, ABC generates $80,000
    10·1 answer
  • ​GEICO, the​ number-two auto insurer with ​$18 billion in revenue last​ year, spent ​$0.9 billion on advertising that year and p
    6·1 answer
  • During the current month, Wacholz Company incurs the following manufacturing costs. (a) Purchased raw materials of $17,500 on ac
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!