None of the above. if this is a big product recall, it must be urgent and top management wants the solution ASAP. if everyone has strong opinion it is difficult to reach a consensus. Hence, Natalie (i feel) should tell the team how urgent this matter is and while she will get input from everyone, the idea that not everyone's input will be the solution as this is an urgent matter must be conveyed to her teammates. Then, she will consolidate after 1 meeting and make a final decision as a team leader.
Answer:
$604,035
Explanation:
The computation of the direct materials purchases budget is shown below:-
Total Wax Required 490,625 Pounds
(785,000 × 10 ÷ 16)
Add: Ending Inventory 125,00 Pounds
Total Units Available 503125 Pounds
Less: Beginning Inventory 16,000 Pounds
Total Pounds to be Purchased 487,125 Pounds
Unit Price $1.24 per Pounds
Total Direct Materials Purchased $604,035
(487,125 × $1.24)
<span>Mike will earn $2,400,000 for the year. Social security withholds 6.2% which equals $148,800, though Social security has a maximum base amount of $118,500. So the total amount withheld for Social Security will be $118,500. Medicare withholds 1.45% which equals $34,800. So the total amount withheld for Medicare will be $34,800. The total withheld from both Social Security and Medicare would be $153,300.</span>
Answer:
See explanation section
Explanation:
As there is a difference between the physical count of the inventory and actual Inventory count, it indicates that the merchandise inventory is either sold or wasted. However, for continuing the operation smoothly, it is assumed as sold. Therefore, the journal entry to record the sale is -
December - 31 Cost of goods sold Debit 45,000
($415,000 - $370,000)
Merchandise Inventory Credit 45,000
(To record the sale of merchandise: adjusted)
Answer:
C. $65,800
Explanation:
Fixed csot: those which do not change for a relevant range with the production output. They aer constant.
Factory insurance 21,000
Factory insurance 13,000
Factory manager's salary 10,800
Janitor's salary 5,000
Property taxes: <u> 16,000 </u>
Total Fixed Cost: 65,800
The direct materials and direct labor are variable cost as they drop to zero if no unit is produced.
Same goes with packaging cost, if no unit is produced then, no packagin is needed.
