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Hatshy [7]
3 years ago
6

Manufacturing reports the following data for the month: Purchases of raw materials, on account $55,250 Materials requisitions: D

irect materials 49,750 Indirect materials 3,700 Labor incurred (not yet paid): Direct labor 51,000 Indirect labor 2,500 Journalize the entries relating to materials and labor. Omit explanations.
Business
1 answer:
xxMikexx [17]3 years ago
7 0

Answer:

Journal 1

Direct Materials $49750 (Debit), Indirect Materials $3700,(Debit)  Direct labor $ 51000 (Debit), Indirect labor $ 2500 ( Debit), Manufacturing Overhead Account $106960 (Credit)

Journal 2

Manufacturing Overhead Account $106960 (Debit), Accounts Payable $106960

Explanation:

Journal 1

Materials and Labor (both direct and indirect) resource acquired shows an accumulation of resources needed for manufacturing process.

Therefore these resources are being recorded in their respective accounts and transferred to manufacturing overhead account.

Journal 2

Both materials and Labor acquired for manufacturing process are still owing.The journal represent a present obligations in settlement of the Manufacturing overhead (Both for Materials and Labor)

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Alan, 46, and Donna, 33, are filing a joint return for 2019. Neither is blind, and neither can be claimed as a dependent. They d
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Answer:

$24,400

Explanation:

Assuming that Alan and Donna are married and they decide to file their taxes together, the standard deduction for 2019 taxes was $24,400.

The standard deduction increases if you or your spouse is over 65 years old, or if any of you is blind. The standard deduction generally increases a little bit every year, e.g. during 2018 it was $24,000 and for 2020 it is $24,800.

8 0
3 years ago
Assume that Corn Co. sold 7,600 units of Product A and 2,400 units of Product B during the past year. The unit contribution marg
Afina-wow [57]

,Answer: a. 9,450 units

Explanation:

You need to find the weighted average contribution margin for both products.

Product A

Weighted average contribution margin = Contribution margin * Units sold / Total units sold

= 34 * 7,600 / (7,600 + 2,400)

= $25.84

Product B

= 59 * 2,400 / 10,000

= $14.16

Breakeven point in units = Fixed costs/ (Weighted average contribution margin of both A and B)

= 378,000 / (25.84 + 14.16)

= 9,450 units

5 0
3 years ago
Sari, a movie theater manager, recently implemented a policy stating that workers who are willing to work a double shift on Frid
Evgen [1.6K]

Answer:

Sliding

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Sliding is a term connected with a Sliding Scale which is a process of adjusting the amount that you pay according to different conditions. That's exactly what Sari is doing.

4 0
3 years ago
Read 2 more answers
If the goal is to cut the total amount of smoke in half in the neighborhood, what isthe cost-effective way to do this?
Darya [45]

Answer:

He should ask nieghbors to stop

Explanation:

Because asking nice is not a bad reason

4 0
3 years ago
Edwards Electronics recently reported $11,250 of sales, $5,500 of operating costs other than depreciation, and $1,250 of depreci
olasank [31]

Answer: $4032.85

Explanation:

The following can be derived based on the information in the question:

Sales = $11,250

Less: operating cost = $5,500

Less: depreciation = $1,250

Operating income = $4500

Operating income = $4500

Less: Interest charges = $218.75

Taxable income = $4281.25

Taxable income = $4281.25

Less: Taxes = $1498.4

Net income = $2782.85

Net cash flow = Net Income + Depreciation

= $2782.85 + $1250

= $4032.85

N.B:

Interest charges= 6.25% × $3500

= 0.0625 × $3500

= $218.75

Taxes = 35% × $4281.25

= 0.35 × $4281.25

= $1498.4

3 0
3 years ago
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