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Aloiza [94]
3 years ago
13

Brown Co. pays weekly salaries of $10,500 on Friday for a five-day workweek ending on that day. Assuming the end of the accounti

ng period ends on Wednesday, the adjusting journal entry will include a a.credit to Wages Expense for $6,300. b.credit to Wages Expense for $10,500. c.credit to Wages Payable for $6,300. d.credit to Wages Payable for $4,200.
Business
1 answer:
ra1l [238]3 years ago
8 0

Answer:

c.credit to Wages Payable for $6,300.

Explanation:

The journal entry to record the wages expense is shown below;

Wages expense dr ($10,500 × 3 ÷ 5) $6,300

      To Wages payable $6,300

(being the wages expense is recorded)

Here the wages expense is debited as it increased the expense and credited the wages payable as it increased the liabilities

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Assume the following information from a schedule of cost of goods manufactured:
Evgesh-ka [11]

Answer:

The manufacturing overhead applied to work in process is:

D. $79,000

Explanation:

a) Data and Calculations:

Beginning work in process inventory          30,000

Direct materials used in production            50,000

Direct labor                                                   60,000

Total manufacturing costs to account for 219,000

Manufacturing overhead applied to WIP   79,000 (219,000 - 140,000)

Ending work in process inventory              72,000

b) The manufacturing overhead applied to Work in Process is the difference between the total manufacturing costs to account for and the costs of beginning work in process, direct materials, and direct labor for the period.  When the ending work in process is deducted from the total manufacturing costs, the resulting figure represents the cost of goods transferred to finished goods inventory.

3 0
3 years ago
On January 1, Year 1, Eureka Company issued $290,000 of 4-year, 5% bonds at face value. The annual cash payment for interest is
zhannawk [14.2K]

Answer:

$304,500

Explanation:

Interest payable on December 31, year 1 = $290,000 * 5%

Interest payable on December 31, year 1 = $14,500

Total amount of liabilities to be reported on the Balance Sheet, year 1:

= $290,000 + $14,500

= $304,500

So, the total amount of liabilities related to these bonds that will be reported on the balance sheet at December 31, Year 1 is $304,500.

5 0
3 years ago
When Southwest Airlines sends an e-mail to frequent-flier customers offering a special low price between selected cities if the
svet-max [94.6K]

Answer: A) direct marketing.

Explanation:

Direct marketing derives its name from the direct nature of communication it uses to communicate with customers. This means that in direct marketing, the entity advertising talks to the targets directly instead of having to go through a third party of sorts.

Southwest Airlines advertised its special offer to the intended targets directly via their email which makes this a direct marketing example.

7 0
2 years ago
The Avengers movie, produced by a subsidiary of Disney Studios, sold seven billion yuan worth of tickets in China in its first m
marin [14]

Answer:

D. An export of U.S. services.

Explanation:

Since the avengers movie generated the subsidiary of Disney Studios that sold the  7 billion yuan worth tickets in china at the time of first month

so here the national income and the accounts related to the product shows the export of the united states services as the services are provided from one country to another due to this they sold 7 billion yuan tickets

Therefore the option d is correct

6 0
3 years ago
Which of the following types of costs is a product cost for absorption costing but a period cost for variable costing? a.direct
Levart [38]

Answer:

C. Fixed Factory Overhead Per Unit

Explanation:

Variable costing and marginal costing income statements mainly differ because of treatment of fixed factory overhead.

Inventory costs under variable costing include only direct material, director labor and variable factory overhead.

Whereas in absorption costing, fixed factory overhead also become part of product cost in addition to direct material, direct labor and variable factory overhead.

5 0
3 years ago
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