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m_a_m_a [10]
3 years ago
9

Fun Stuff Manufacturing produces frisbees using a three-step sequential process that includes molding, coloring and finishing. W

hen the frisbees and associated costs are transferred from the molding process to the coloring process, which account is debited
Business
1 answer:
VladimirAG [237]3 years ago
4 0

Answer:

✓Debit to WIP Inventory-Finishing

✓credit to WIP Inventory-Coloring.

Explanation:

From the question, we are informed about Fun Stuff Manufacturing produces frisbees using a three-step sequential process that includes molding, coloring and finishing. When the frisbees and associated costs are transferred from the molding process to the coloring process, WIP Inventory-Finishing is to be debited, while WIP Inventory-Coloring is credited in the journal entry . WIP can be regarded as part of the overhead cost as well as raw materials, and labor cost at each stages during the process of production. When recording on the journal entry, journal entry can be regarded helps in recording any transaction as far as accounting system is concerned. Several recording are found in journal, and can fall in debit or credit side . At the journal entry, Debit side is at the left-hand side and credit side is at the right-hand side

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Answer:

$5,896,778

Explanation:

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= Present value of the first liability due in one year + Present value of the second liability due in three years

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For computing the increase value in the liabilities we simply added the present value of two liabilities given in the question

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3 years ago
Which two types of résumés can be formatted to be visually appealing?
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The factors that impede business ability of African can be liken to trade barriers experienced in African region.

Many potential entrepreneur have been discouraged from starting their enterprises because of various business impediment.

The factors that impede the business ability includes:

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3 0
3 years ago
urphy Inc., which produces a single product, has provided the following data for its most recent month of operation:Number of un
LUCKY_DIMON [66]

Answer:

Results are below.

Explanation:

The absorption costing method includes all costs related to production, both fixed and variable. <u>The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead. </u>

The v<u>ariable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).</u>

<u>Unit cost under absorption costing:</u>

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Answer:

E.

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