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3 years ago

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The journal entry to record the requisition of direct materials for new jobs started during the period is: A. Work-In-Process In

ventory xxx Materials Inventory xxx B. Materials Inventory xxx Purchases xxx C. Cost of Goods Sold xxx Finished Goods Inventory xxx D. Finished Goods Inventory xxx Work-In-Process Inventory xxx

2 answers:

kirza4 [7]3 years ago

8 0

Answer:

\

Work-In-Process Inventory xxx Materials Inventory xxx

Explanation:

Marta_Voda [28]3 years ago

3 0

Answer:

A. Work-In-Process Inventory xxx Materials Inventory xxx

Explanation:

The journal entry to record the requisition of direct material is shown below:

Work in process inventory Dr XXXXX

To Material inventory XXXXX

(Being the requisition of the direct material is recorded)

While recording this entry we debited the work in process inventory and credited the material inventory so that the proper posting could be done

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Scott Company has 5 sales employees, each of whom earns $16,000 per month and is paid on the last working day of the month. Each

pogonyaev

Answer:

Scott Company

Journal Entries:

January 31:

Debit Payroll $80,000

Credit Salaries Payable $57,200

Credit Payroll Taxes Payable $22,800

To record the salaries and taxes payable.

Debit Salaries Payable $57,200

Debit Payroll Taxes Payable $22,800

Credit Cash $80,000

To record the payment of the salaries and taxes.

Explanation:

a) Data and Calculations:

Number of sales employees = 5

Salary per month = $16,000 each

Withholding taxes:

FICA social security taxes of 6.2% = $992

Medicare taxes 1.45% = $232

Federal income tax = 16% = $2,560

Monthly Medical Insurance = $440

FUTA = 0.8% of the first $7,000 = $56

SUTA = 4.0% of the first $7,000 = $280

Total withholding tax deductions = $4,560

Payroll total ($16,000 * 5) = $80,000

Withholding taxes for each:

FICA social security taxes of 6.2% = $992 * 5 - $4,960

Medicare taxes 1.45% = $232 * 5 - $1,160

Federal income tax = 16% = $2,560 * 5 - $12,800

Monthly Medical Insurance = $440 * 5 - $2,200

FUTA = 0.8% of the first $7,000 = $56 * 5 - $280

SUTA = 4.0% of the first $7,000 = $280 * 5 - $1,400

Total withholding tax deductions = $4,560 * 5 = $22,800

Net pay = $57,200

5 0

3 years ago

The Affordable Care Act provides that individuals and families may take a tax credit called the ______ to help them purchase hea

scZoUnD [109]

The Affordable Care Act provides that individuals and families may take a tax credit called the <em>Health Insurance Premium Tax Credit </em>to help them purchase health insurance.

<h3>What is Affordable Care Act? </h3>

The Affordable Care Act was enacted to reduce the cost of health insurance coverage for people who qualify for it.

The law of the Affordable Care Act make provision for premium tax credits and cost-sharing reductions to help the lower-income group.

Hence, the Act provides that individuals and families may take a tax credit called the <em>Health Insurance Premium Tax Credit </em>to help them purchase health insurance through a health insurance exchange.

Therefore, the Option C is correct.

Read more about Affordable Care Act

<em>brainly.com/question/15003073</em>

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3 years ago

Suppose that the wage rate is $30 per hour, and the firm sells each unit of output for $6. Using the data from Table 7.3, how ma

polet [3.4K]

I found this data from Table 7.3
<span> <span> </span><span><span> Labor Input Output
</span> <span> 0   0
</span> <span> 1   40
</span> <span> 2 70
</span> <span> 3   90
</span> <span> 4 100
</span> <span> 5 105
</span> <span> 6 108

Labor Cost = Labor Input x 30
Output Sales = Output x 6
Revenue = Sales - Cost

</span></span></span><span> <span> </span><span><span> Labor cost    Output Sales
</span> <span> 0   0
</span> <span> 30 240
</span> <span> 60 420
</span> <span> 90 540
</span> <span> 120 600
</span> <span> 150 630
</span> <span> 180 648

</span></span></span><span> <span> </span><span><span> Labor Input Output   Labor cost    Output Sales <span> Revenue</span>
</span> <span> 0 0 0   0   0
</span> <span> 1   40 30   240 210
</span> <span> 2   70 60   420 360
</span> <span> 3   90 90   540 450
</span> <span> 4 100 120   600 480
</span> <span> 5 105 150   630 480
</span> <span> 6 108 180   648 468

Labor Unit 4 and 5 both have a revenue of 480. It is the maximum revenue. I think the best option would be C. 4 UNITS.

Lesser cost to the company at a maximum revenue. </span></span></span>

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What role, if any, should the U.S. government take in this issue of setting fair wages in developing countries?

Anuta_ua [19.1K]

Answer:

Corporations of the United States should be tracked by the U.S government to ensure that workers' rights in developing countries should not be compromised.

Explanation:

In many developing countries political leaders are afraid that if wage rates are enforced on big corporations they could be forced off global markets. Foreign investment capital is significant to the economy of developing countries and there is always fear that the loss of such investment may break the economies of these countries. The government of the U.S should ensure vigorous monitoring programs that require businesses to report the location of international factories publicly so that human rights organizations can track their actions independently.

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3 years ago

Which option in a webmail program allows you to type a new message? The option allows you to create a new message. NextReset

mixas84 [53]

Answer:

The "compose" or "draft" option allows you to type a new message.

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3 years ago