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ankoles [38]
2 years ago
15

If scrap, common to all jobs, is returned to the storeroom and the time between the scrap being inventoried and its disposal is

quite lengthy, the journal entry is: Work-in-Process Control Materials Control Materials Control Work-in-Process Control Manufacturing Overhead Control Materials Control Materials Control Manufacturing Overhead Control
Business
1 answer:
Lapatulllka [165]2 years ago
7 0

Answer:

d

Explanation:

You might be interested in
Zen Arcade paid the weekly payroll on January 2 by debiting Salaries and Wages Expense for $47,000. The accountant preparing the
hram777 [196]

Answer:

Salaries and wages payable...................Dr                    $20,000

                                      Salaries and wages expense                  $20,000

Explanation:

As per accrual system, an expense is incurred when it is accrued irrespective of when it is paid. So, $20,000 was accrued in December 31, salary and wages expenses would have been debited then amounting to $20,000.

In order to rectify the mistake of double counting, the entry passed by the accountant would be reversed to nullify the effect.

Adjusting Journal entry:

Particulars                                            Debit              Credit

Salaries and wages payable               $20,000

                 Salaries and wages expense                    $20,000

(Being double counting of salaries and

wages expense rectified)

4 0
2 years ago
Assume that the farmer and the rancher can switch between producing pork and producing tomatoes at a constant rate. Assume that
dusya [7]

Answer:

C) 6 pounds of pork and 8 pounds of tomatoes

Explanation:

Explanation:

            Labor hours to make 1 lb. of:          lbs. produced in 24 hours

                 Pork                  Tomatoes              Pork            Tomatoes

Farmer         6                            3                       4                       8

Rancher       4                            4                       6                       6

If both decide to specialize in producing only one good, the farmer will produce 8 pounds of tomatoes per day and the rancher will produce 6 pounds of pork per day.

This way when the rancher trades 4 pounds of pork in exchange for 6 pounds of tomatoes, he is gaining 2 pounds of pork which is equivalent to 8 labor hours.

When the rancher trades 6 pounds of tomatoes in exchange for 4 pounds of pork, he is gaining 2 pounds of tomatoes which is equivalent to 6 labor hours.

3 0
3 years ago
Gary’s Company produces high quality shirts. Shirts must be well made because of frequent washings. Currently, Gary sells 10,000
grin007 [14]

Answer:

Unless the capacity is expanded or some of the production gets outsource, the offer is not convenient.

Explanation:

Giving the following information:

Currently, Gary sells 10,000 shirts at $60 each with the capacity to produce 11,000 shirts. Gary is considering a special order for 1,800 shirts for $40.

Gary has the following costs:

Unit Costs $200,000

Facility Costs $140,000

If Gary accepts the special order, they will incur an additional $2 per shirt in foreign currency transaction costs.

Because it is a special offer and there is unused capacity, we will not have into account the fixed costs.

variable cost per unit= (200,000/10,000) + 2= $22

Effect on income= (40 - 22)*1,800= $32,400

We have to take into account the loss of not selling 1,000 units.

Effect on income= 1,000*40= $40,000

Total effect= 32,400 - 40,000= $7,600

Unless the capacity is expanded or some of the production gets outsource, the offer is not convenient.

6 0
3 years ago
_____is best described as the process of selling a prototype of a product in either a real or simulated market environment.
Ipatiy [6.2K]

Answer: Test marketing

Explanation:

6 0
1 year ago
The national accounts of Parchment Paradise are kept on​ (you guessed​ it) parchment. A fire in the statistics office destroys s
Mama L [17]

Answer:

GDP [Expenditure Approach] is $7,040,  Depreciation is $920

Explanation:

The formula for calculating GDP [Expenditure Approach] is Consumption expenditure + Investment + Government expenditure + Exports − Imports

Mathematically,

Y = C + I + G +  (X − M)

Where C = $7,000, I = $160, G = $180, (X-M) = -$300

Y = 7000 + 160 + 180 - 300 = $7,040  

GDP [Expenditure Approach] is $7,040  

Depreciation = GDP - NDP

NDP = wages + profits + interest + rent + net factor income of unincorporated businesses

Where wages = $5,900, profits + interest + rent = $220, net factor income from abroad = $0

NDP = 5900 + 220 + 0 = $6,120

Applying Depreciation = GDP - NDP, we have:

Depreciation = 7040  - 6120 = $920

N.B: The depreciation is a measure of the statistical discrepancy between the GDP and NDP

7 0
2 years ago
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