Answer:
Dr Work in process inventory 2,800
Dr Factory overhead 600
Cr Raw material inventory 3,400
Explanation:
Work in process = $900 + $1,200 + $700 = $2,800
Factory overhead (supplies) is the same, $600
inventory decrease = WIP + supplies = $2,800 + $600 = $3,400
Answer: A. True
Explanation:
The variable overhead efficiency variance is the difference between the actual and budgeted hours worked, which are then applied to the standard variable overhead rate per hour
Answer:
$187,200
Explanation:
Given that,
Company's Finished Goods inventory Debited = $218,000
Company's Finished Goods inventory credited = $218,000
Ending balance in the Finished Goods inventory = $13,000
Manufacturing overhead was overapplied by $36,700.
Applied manufacturing overhead = $223,900
Actual manufacturing overhead cost for the year:
= Manufacturing overhead applied - Manufacturing overhead overapplied
= $223,900 - $36,700
= $187,200
Answer:
$9,409.50
Explanation:
Calculation for the total combined FICA tax (OASDI & Medicare) withheld from Redford's salary for the year
For the year 2019 the total FICA tax rate is 7.65%
Which are :
OASDI tax = 6.2%
+ Medicare tax =1.45%
Now let calculated the amount of OASDI tax for Redford's salary
Using this formula
OASDI tax =Salary ×OASDI tax rate
Let plug in the formula
OASDI tax =$123,000×6.2%
OASDI tax =$7,626
Let let calculated the amount of the Medicare tax for Redford's salary
Using this formula
Medicare tax =Salary ×Medicare tax rate
Let plug in the formula
Medicare tax=$123,000*1.45%
Medicare tax=$1,783.50
Total combined FICA tax
OASDI tax =$7,626
Medicare tax=$1,783.50
Total=$9,409.50
Therefore what the total combined FICA tax (OASDI & Medicare) withheld from his salary will be for the year is $9,409.50
Answer:
Net increase in cash = $650
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached pdf for the complete question.
Also note: See the attached excel file for the statement of cash flows using the indirect method.
From the attached excel file, we have:
Net cash flow from operating activities = $830
Net cash flow from investing activities = $30
Net cash from financing activities = -$210
Net increase in cash = $650
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xlsx
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<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark">
pdf
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