Direct labor cost is wages that are incurred in order to produce specific goods or provide specific services to customers. The total amount of direct labor cost is much more than wages paid.
Given that 3 workers, working 8 hours in a day are paid $12. The total amount paid to workers are:
12x8x3=$288
The cost of direct labor will therefore be:
450-288
=$192
Answer:
The recognized gain or loss of Bud is $2,000
Explanation:
The aggregate market value is computed as:
Aggregate market value = Fair market value + Cash
= $28,000 + $2,000
= $30,000
The recognized loss or gain of Bud is computed as:
Recognized gain or loss = Aggregate market value - Fair market value
= $30,000 - $28,000
= $2,000
So, it is a gain of $2,000
Explanation:
Accounts receivable is money owed to a company by its debtors.
Account payable amounts due to vendors or suppliers for goods or services received that have not been yet paid for.
I believe this would result to a debit to cash and a credit to common stock. This is because the transaction would result to an increase in cash (asset) and a decrease in stock (asset). A journal is a record used in accounting in which transactions are initially recorded in order of when they were undertaken.
