You can download answer here cutt.liz/NfBdf i tried it
Answer:
the final cost will be addition of all numbers given
15000+800+200+350+700+500+150+600 =
18300$ of total cost of Andrea's automobiles
Answer:
Depreciation for year 3 = $115518
BV = $57798
Explanation:
The modified accelerated cost recovery method employees a classification-based approach to depreciating certain assets, once classified are assigned respective rates of depreciation. for example, assets classified under automobiles, trucks and machinery are treated under 5-year MACRS and will be depreciated at 20%, 32%, 19.2% and so on.
In this question the bridge across Rio Grande being built by Del Norte Brick co is treated under 3-year MACRS, for which the rates are as follows:
33.33% for the first year
44.45% 2nd year
14.81% 3rd year
7.41% 4th year
We have been asked to determine 3rd years' depreciation and book value, determined as follows:
Depreciation year 1: $780000 33.33% = $259974
Depreciation year 2: $780000 44.45% = $346710
Depreciation year 3: $780000 14.81% = $115518
So the depreciation for year 3 = $115518
The book value is calculated as follows:
<em>Book value = cost - accumulated depreciation</em>
BV = $780000 - $722202
BV = $57798
Answer:
The amount of overhead debited to Work in Process Inventory should be: a. $182,00
Explanation:
The Overheads are Applied in the Manufacturing Costs as:
Budgeted Rate × Actual Activity for the Month
At the End of the Period we would need to determined whether this amount of overhead is Over or Under Applied by comparing it to the actual overheads incurred of $180,000 (given)
In our Case, the predetermined overhead rate is 70% of direct labor cost
<em>Thus we need to find the Direct Labor Cost first</em>:
Total Labor Costs $360,000
<em>Less </em>Indirect Labor Costs<em> </em>$100,000
Direct Labor Cost $260,000
<em>Therefore Overheads applied would be determined as:</em>
= $260,000 × 70%
= $182,000
Answer:
Given that,
Salaries = $100,000
FICA taxes withheld = $7,650
Income taxes withheld = $18,000
Federal unemployment taxes = $450
State unemployment taxes = $2,100
Therefore,
Payroll Tax Expense:
= FICA taxes withheld + Federal unemployment taxes + State unemployment taxes
= $7,650 + $450 + $2,100
= $10,200
The journal entry is as follows:
Payroll Tax Expense A/c Dr. $10,200
To FICA taxes withheld $7,650
To Federal unemployment taxes $450
To State unemployment taxes $2,100
(To record accrual of employer’s payroll taxes)
