Answer:
D. Debiting Wage Expense for $1,080 and crediting Wages Payable for $1,080.
Explanation:
Salary Calculation for three employees for one day = $ 600 + $ 600 + $ 600/5= 1800/5= $ 360
Salary for 3 days for 3 workers= $ 360 * 3= $ 1080
Adjusting Entry would be recognizing the expense and liability for the payment of wages.
So
Wages expense will be debited with $ 1080
And wages payable would be credited with $ 1080
Answer:
Overhead budget:
Variable overhead= 274,400
Fixed overhead= 180,000
Total overhead= $454,400
Explanation:
Giving the following information:
Production= 4,900 units
Each unit requires 5 hours of direct labor at a rate of $16 per hour.
Variable factory overhead is budgeted to be 70% of direct labor cost
Fixed factory overhead is $180,000 per month.
First, we need to determine the direct labor cost:
Direct labor cost= (4,900*5)*16= $392,000
Now, we can calculate the overhead budget:
Overhead budget:
Variable overhead= (0.7*392,000)= 274,400
Fixed overhead= 180,000
Total overhead= $454,400
The type of distribution system that is owned by the manufacturer throughout the channel of distribution to the retail stores is a corporate distribution system.
<h3>What is distribution system?</h3>
Distribution system refers to the moving of the goods and services and equipment to final end users from the manufacturer or producers.
It involves comprises logistics and the procedures which is required for the flow of the goods and services to the users.
Learn more about distribution system here: brainly.com/question/27905732
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Answer:
Marginal cost is rising.
Explanation:
Given that,
Jill Johnson currently produces = 10,000 Pizzas per month
At a total cost = $500
Marginal cost refers to the cost of producing one more unit of a commodity to satisfy a given want.
Average total cost = $500 ÷ 10,000
= $0.05
Here, Marginal cost of producing pizzas is as follows:
= Total cost of producing 10,001 pizzas - Total cost of producing 10,000 pizzas
= $500.11 - $500
= $0.11
Therefore, marginal cost of producing an additional pizza is $0.11 and it is rising, since average total cost is less than marginal total cost and ATC rising.
Answer:
1. 1.22
Explanation:
P = Price of money clip
S = Supply of money clip
P1 = 0.75
P2 = 0.90
S1 = 8,000
S2 = 10,000
Mid point Formula = [ ( S2- S1 ) / ( P2- P1 ) ] / [ ( ( S2+ S1 ) / 2) / ( ( P2 + P1 )/2 ) ]
Price Elasticity of Supply = [ ( 10,000- 8,000 ) / ( 0.90- 0.75 ) ] / [ ( ( 10,000+ 8,000 ) / 2) / ( ( 0.90 + 0.75 )/2 ) ]
Price Elasticity of Supply = (2,000 / 0.15) / (9,000 / 0.825)
Price Elasticity of Supply = 13,333.33 / 10909.09
Price Elasticity of Supply = 1.22
