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stich3 [128]
4 years ago
7

Prepare the journal entries needed based on the following information: Estimated overhead for the month: $6,000 Estimated direct

labor hours: 2,000 Purchased $35,000 of materials Requisitioned $10,000 of materials to be placed into production Incurred $4,000 of direct labor during the month (500 hours) Incurred the following actual factory overhead amounts: Utilities: $1,000 Indirect materials: $500 Indirect labor: $1,000 Rent: $1,500 Completed two jobs with a cost of $18,000 Sold both jobs completed at price
Business
1 answer:
daser333 [38]4 years ago
7 0
DnzkkJsjsjsjskjsjsjsjdjdjsjsjjsjsjsjsjsjsjskssj <3 sorry I can’t solve this it’s very hard
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Fitzgerald Oil and Gas incurred costs of $8.25 million for the acquisition and development of a natural gas deposit. The company
fiasKO [112]

Answer:

Depletion for Year 1: $1,925,000;

Depletion for Year 2: $2,200,000.

Explanation:

Please find the below for detailed explanation and calculation:

- First, calculate the depletion rate per cubic feet of natural gas extracted from the gas deposit:

+Depletion rate = Total cost of acquisition and development of the gas deposit/ total expected gas extraction from the deposit = 8,250,000/3,000,000 = $2.75 per cubic feet.

- Then, find the depletion for the year 1 and yer 2 given the actual extracted gas are given:

Depletion for year one = Depletion rate x actual gas extraction in year 1 = 2.75 x 700,000 = $1,925,000;

Depletion for year two = Depletion rate x actual gas extraction in year 2 = 2.75 x 800,000 = $2,200,000..

Hope you find the explanation helpful.

6 0
3 years ago
Hunter offers financial counseling and management on a fee-only basis. She has found that different customers are willing to pay
Kay [80]

There are different ways to handle issues relating to customers. This shows that her pricing decisions should depend primarily on how different customers perceive the value of her services.

<h3>How do customers see value? </h3>
  • Customer are known to often perceived value as a marketing word that implies to the way a consumer sees a product.

Customer see value as a fact that each customer look into their purchases to know if they meet their wants or needs and later compare that study to the price they are paying.

By known how different customers perceive the value of her services, Hunter can handle some key issue in his business.

Learn more about Customers services from

brainly.com/question/1286522

6 0
3 years ago
What is the total federal income tax withholding reported on the Matthews’ Form 1040?
krek1111 [17]

Answer:

correct answer is d . $6,778

Explanation:

we get here total federal income tax that will be

as we know that

federal income tax withholding barbara  = $2784

federal income tax withholding mark =$2253

form SSA 1099          =  $1721

and form 1099 interest income = $20

we get total federal income tax that is sum of all four

total federal income tax = $2784 + $2253 + $1721 + $20  

total federal income tax =  $6,778

so correct answer is d . $6,778

4 0
3 years ago
If house prices in the neighborhood immediately fall by 10 percent (before any mortgage payments are made), what would happen to
Jet001 [13]

Answer:The net worth of Joe and Mike will reduce.

Explanation:

It will reduce because the only asset they both have is the houses in the neighbourhood and since prices have reduced,their net worth will also reduce.

3 0
3 years ago
For 2021, Sherri has a short-term loss of $2,500 and a long-term loss of $4,750. a. How much loss can Sherri deduct in 2021?
lakkis [162]

Based on the information given the amount of loss that  Sherri deduct in 2021 is $3,000.

<h3>Short-term loss and long-term loss</h3>

Since he had both short-term loss and long-term loss the amount of loss that is deductible is $3,000 of capital loss. ($1,500 each for married filing separately).

Both the short-term loss and the long-term loss are combined up to the limit of the amount of $3,000 and the capital loss in excess of the amount of $3,000 are carried forward to following year.

Inconclusion the amount of loss that  Sherri deduct in 2021 is $3,000.

Learn more about short-term loss and long-term loss here:brainly.com/question/25117603

7 0
2 years ago
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