Answer:
The inventory should be registered as $2000
Explanation:
The inventory should be registered by it is acquisition cost. Once sold Inventory will go down bt $2000 and COGS will rise by $2000
Answer and Explanation:
The journal entry for the recording of sales and sales tax payable is shown below:
Accounts Receivable $3,472
To Sales $3,200
To Sales tax payable $192 ($3,200 × 6%)
To Local tax payable $80 ($3,200 × 2.5%)
(Being the sales and sales tax payable is recorded)
For recording this we debited the account receivable as it increased the asset and credited the sales, sales tax and local tax as it increased the revenue and liabilities
Answer:
$18,800.00
Explanation:
Overhead costs are the indirect and fixed expenses that cannot be directly associated with a product. They are associated with the production or manufacturing of goods.
In this case
The manufacturing expenses that cannot be attached to a product are
Indirect labor: $ 6,000.00
Factory utilities: $ 2,500.00
factor equipment deprecation <u>$10,300.00</u>
<u>$18,800.00</u>
Total overhead costs are $18,800.00
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