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3 years ago

The entry to record the flow of direct labor costs into production in a job order cost accounting system is to

Business

1 answer:

Nookie1986 [14]3 years ago

4 0

Answer:

Debit : Work In Process Account and Credit : Salaries and Wages Payable Account

Explanation:

All manufacturing costs are accounted for in a Work in Process Account during manufacture. Therefore Debit the Work In Process Account to show accumulation of the manufacturing costs and Credit the Salaries and Wages Payable Account to show the utilization of labor.

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Suppose during 2014 that Federal Express reported the following information (in millions): net sales of $35,497 and net income o

Lorico [155]

Answer:

Asset turnover 1.42

Return on assets 0.39%

Explanation:

Here, we are asked to calculate the asset turn over and the return on assets.

Mathematically;

Asset turnover = Net sales/Average total assets

Net sales = $35,497

average total assets = (25,633+24,244)/2 = 24938.5

Asset turnover = 35,497/24938.5 = 1.42

The return on assets can also be calculated mathematically.

mathematically, return on assets = Net income/Average total assets

Net income = $98

Average total assets = 24,938.5 from above

= 0.0039 or 0.39%

5 0

3 years ago

Read 2 more answers

Bon Nebo Co. sold 25,000 annual subscriptions of Magazine 2018 for $85 during December 2018. These new subscribers will receive

krek1111 [17]

Answer:

<u>Current liabilities</u>

2,125,000 unarned revenue

336,000 tax payable

2,461,000 total current liability

Explanation:

taxable income x tax-rate = tax payable

840,000 x .4 = 336,000

subscription x value = unearned revenue

25,000 x 85 = 2,125,000 unearned revenue

This amount will decrease over time, as the customers receive their magazines.

Current liabilities

2,125,000 unarned revenue

336,000 tax payable

2,461,000 total current liability

3 0

3 years ago

Programming languages used to create artificial intelligence and expert system applications are often called _____

SSSSS [86.1K]

<span>Programming languages used to create artificial intelligence and expert system applications are often called fifth generation languages. This programming language works by solving using the restrictions given to the program unlike the conventional method of using an algorithm developed by a programmer.</span>

8 0

3 years ago

The price of peanut butter increased by 25% and the quantity of jelly demanded decreased by 50%. Using one decimal place and the

natulia [17]

Answer:

-2

Explanation:

To find the cross price elasticity between to goods, we use this formula:

Cross Price Elasticity of Demand = % change in quantity demanded of good 1 / % change in the price of good 2

Now, we plug the amounts into the formula

Cross Price Elasticity of Demand = -50% / 25%

= -2

5 0

3 years ago

An emphasis is placed on proper income statement item recognition under what approach under US GAAP?

Over [174]

Answer:

Revenue /expense approach

Explanation:

As we know that the income statement recognized only the revenues and the expenses and if the revenue is more than the expenses so the company is earning profit else it would suffered loss

So for proper income statement, the item recognized under US GAAP should be placed in revenue and expense approach as it comes under the income statement and the same is to be considered

3 0

3 years ago