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zepelin [54]
3 years ago
12

During May, Darling Company incurred factory overhead costs as follows: indirect materials, $2,250; indirect labor, $6,370; util

ities cost, $2,660; and factory depreciation, $3,320.
Required:
Journalize the entry to record the factory overhead incurred during May.
Business
1 answer:
Hunter-Best [27]3 years ago
4 0

Answer:

factory overheads $14,600 (debit)

indirect materials, $2,250 (credit)

indirect labor, $6,370 (credit)

utilities cost, $2,660 (credit)

factory depreciation, $3,320 (credit)

Explanation:

The factory overheads account is debited with factory overheads actually incurred during the period.

Overheads applied to work in process are credited in the overheads account.

This leaves the balance of over or under-applied overheads on either the debit or credit of this account.

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The acquisition cost of a certain raw material changes frequently. The book value of the inventory of this material at year end
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Answer: B. FIFO method

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________ is a field of study that investigates the impact that individuals, groups, and structure have on behavior within organi
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The answer is a. Organizational behavior

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7 0
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Ms. Pay, who has a 40.8 percent marginal tax rate on interest income (37 percent income tax 3.8 percent Medicare contribution ta
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Answer:

After tax cash flow    $44,281.60

After tax cash flow   ($30,518.40)

After tax cash flow   $8856.32

Explanation:

In the first case when the interest income of $74,800 ,the after-tax cash flow would be taxed as follows"

before tax cash flow   $74,800.00

tax at 40.8%*$74,800 ($30,518.40)

After tax cash flow      $44,281.60  

If the entire interest income is re-invested after tax cash flow is computed thus:

before tax cash flow   $0

tax at 40.8%*$74,800 ($30,518.40)

After tax cash flow      ($30,518.40)

If the entire interest income represents the original  issue discount,which is the difference between the face value and the issue price,after tax cash  flow is computed thus:

The OID is taxable as if it accrues over the duration of the investment(bonds),hence a portion of the OID would be assessed to tax each year (assume the duration of investment is 5 years)

Annual portion of OID=$74,800/5

before tax cash flow    $14,960 .00

tax at 40.8%*$74,800  ($6103.68 )

After tax cash flow         $8856.32

After tax cash flow      $44,281.60  

3 0
3 years ago
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