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masha68 [24]
2 years ago
9

LBC Corporation makes and sells a product called Product WZ. Each unit of Product WZ requires 2.7 hours of direct labor at the r

ate of $23.00 per direct labor-hour. Management would like you to prepare a Direct Labor Budget for June. The company plans to sell 46,000 units of Product WZ in June. The finished goods inventories on June 1 and June 30 are budgeted to be 580 and 140 units, respectively. Budgeted direct labor costs for June would be:
Business
1 answer:
In-s [12.5K]2 years ago
6 0

Answer:

$ 2,829,276

Explanation:

The budgeted direct labour cost is going to be based on the budgeted production units.

Production budget = sales budget + closing inventory -opening inventory

Production budget = 46,000  - 140 + 580 = 45,560

Labour budget = Production budget× hours per unit

                        =  45,560× 2.7 hrs × $23

                       =   $ 2,829,276

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An agreement exists when one party offers a certain bargain to another party.
Fynjy0 [20]

Answer:

the answer of the question is true

3 0
2 years ago
Assume Royal Palm Corp., an equipment distributor, sells a piece of machinery with a list price of $800,000 to Arch Inc. Arch In
Alexandra [31]

Answer:

a. $720,000

Explanation:

Since in the question, it is given that the equipment is sold at the list price

The list price is $800,000 and the selling percentage is 90%

So, the revenue should be recorded

= List price × selling percentage

= $800,000 × 90%

= $720,000

Simply we multiplied the list with the selling percentage so that the correct amount can come

3 0
3 years ago
Prepare journal entries to record the following four separate issuances of stock. A corporation issued 7,000 shares of $10 par v
german

Answer:

DEBIT $ 84.000 Cash  

CREDIT $ 70.000 Common Stock  

CREDIT $ 14.000 Paid-In Capital in Excess of Par Value

 

DEBIT $ 43.000 Promotion Expenses  

CREDIT $ 3.500        Common Stock  

CREDIT $ 39.500 Paid-In Capital in Excess of Par Value  

DEBIT $ 43.000 Promotion Expenses  

CREDIT $ 43.000 Common Stock  

DEBIT $ 218.000 Cash  

CREDIT $ 175.000 Preferred Stock  

CREDIT $ 43.000 Paid-In Capital in Excess of Par Value  

Explanation:

DEBIT $ 84.000 Cash  

CREDIT $ 70.000 Common Stock  

CREDIT $ 14.000         Paid-In Capital in Excess of Par Value  

As the company declared a par value, it's necessary to split the equity in two accounts, Common Stock  

for the stated value ($70,000) and the Paid in Capital for the excess of cash over the Common Stock ($14,000)  

DEBIT $ 43.000 Promotion Expenses  

CREDIT $ 3.500        Common Stock  

CREDIT $ 39.500 Paid-In Capital in Excess of Par Value  

As the company declared a par value, it's necessary to split the equity in two accounts, Common Stock  

for the stated value ($3,500) and the Paid in Capital for the excess of the price over the Common Stock ($39,500)  

In this case there is no cash because the shares are in exchange for the promotions effort (Expenses)

DEBIT $ 43.000 Promotion Expenses  

CREDIT $ 43.000 Common Stock  

As the company declared no-par value, it's not necessary to split the equity in two accounts, full value to common stocks account

In this case there is no cash because the shares are in exchange for the promotions effort (Expenses)

DEBIT $ 218.000 Cash  

CREDIT $ 175.000 Preferred Stock  

CREDIT $ 43.000 Paid-In Capital in Excess of Par Value  

Last escenario the company declared preffered stock and not Common ones, so the equity account in this case it's Preferred stock  

as the par value it's $100 ($175,000) to Preferred Stock and Paid in Capital for the excess of the price ($43,000)  

6 0
3 years ago
Kristen Lu purchased a used automobile for 8,000 at the beginning of last year and incurred the following operating costs:
love history [14]

Fixed cost per mile 0.32 =(1600+1200+360+40)/10000.

Kristen Lu purchased a second user automobile for 8,000 at the start of last year and incurred the subsequent operatingcosts:8,000atthebeginningoflastyearandincurredthefollowingoperatingcosts ($8,000 ÷5 years) Insurance Garage rent Automobile tax and license Variable operating cost​$ 1.600 $ 1.200 $ 360 $ 40 $ 0.14 per mile​$The variable expense consists of gasoline, oil, tires, maintenance, and repairs. therefore the annual straight-line depreciation is$1,600.

The car is kept in a very garage for a monthly fee. Kristen drove the car 10,000 miles last year. Compute the typical cost per mile of Owning and operating cost of the the car.  What costs above are relevant during this decision? Kristen is considering buying an upscale sports car to interchange the car she bought last year.

She would drive the identical number of miles irrespective of which car she owns and would rent the identical parking zone. The sports car's variable operating costs would be roughly identical because of the variable operating costs of her old car.

learn more about operating cost: brainly.com/question/2115053

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3 0
1 year ago
Lei Company accumulates the following adjustment data at December 31. 1. Services provided but not recorded total $1,000. 2. Sup
Zigmanuir [339]

Answer:

Type of adjustment (prepaid expenses, unearned revenues, accrued revenues, or accrued expenses)

1. Services provided but not recorded total $1,000. accrued revenues

2. Supplies of $300 have been used. accrued expenses

3. Utility expenses of $225 are unpaid. accrued expenses

4. Services related to Unearned service revenue of $260 were performed. accrued revenues

5. Salaries of $800 are unpaid. accrued expenses

6. Prepaid insurance totaling $350 has expired. accrued expenses

Status of Each Account before adjustment

1. Services provided but not recorded total $1,000. Revenue understated and cash/account receivable account understated

2. Supplies of $300 have been used. Supplies account overstated and supplies expense account understated

3. Utility expenses of $225 are unpaid. utility expense account understated and Liability account understated

4. Services related to Unearned service revenue of $260 were performed. Revenue understated and Unearned revenue overstated

5. Salaries of $800 are unpaid. Salaries Expense account understated and Liability account understated

6. Prepaid insurance totaling $350 has expired. Insurance expense account understated and Prepaid insurance overstated.

Explanation:

1. Revenue should be recorded when services are performed.

2. Used supplies should be transferred to supplies expenses account.

3. Utility expense should be recorded when it's been accrued.

4. Sales expense should be recorded when it's been accrued.

5. Prepaid Insurance should be transferred to Prepaid expense account when its been expired.

8 0
3 years ago
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