Answer:
$593,000
Explanation:
Given data for Schneider Inc.
Salaries payable at the beginning of 2018 (end of 2017) = $61,600
Salary expense during the year (2018) = $621,400
Salary payable at end of year (2018) = $90,000
Salaries paid = ?
Let the salaries paid = S
Using the formula
Salaries payable at the beginning of 2018 + Salary expense during the year - Salaries paid = Salary payable at end of year
$61,600 + $621,400 - S = $90,000
S = $61,600 + $621,400 - $90,000
S = $593,000
Cash outflows for salaries in 2018 were $593,000.
Answer:
B. fixed costs, variable costs, and mixed costs
Explanation:
Mainly there are three types of cost i.e variable cost, fixed cost, and the mixed cost. The variable cost is that cost which is change when the production level change whereas the fixed cost is that cost which remains constant whether production level changes or not
.
The mixed cost is a semi-variable cost which include some part of the fixed cost and some part of the variable cost
So, the variable cost includes indirect material, indirect labor, and factory supplies
The fixed cost includes supervision, taxes, and depreciation expense.
And, the mixed cost includes insurance, utilities, etc.
Answer:
It gives the increment of $5,900.
Explanation:
For computing the increment effect, the following things is need to be considered.
1. Incremental sales of reworking cost = Sales price - rework cost
= $58,100 - $6,600
= $51,500
2. Scrap value = $45,600
As in the give question, the incremental value is computed based on reworking rather than scrap value. So, the scrap value amount is to be deducted from the incremental sales of reworking cost.
The amount is equals to
= $55,100 - $45,600
= $5,900
Thus, it gives the increment of $5,900.
Answer and Explanation:
The journal entries are shown below:
On April 8
Cash $9,120
Credit card expense $380 ($9,500 × 0.04)
To Sales $9,500
(Being sale is recorded)
Costs of goods sold $7,021
To Merchandise inventory $7,021
(Being the cost of goods sold is recorded)
On April 12
Cash $7,215
Credit card expense $185 ($7,400 × 2.5%)
To Sales $7,400
(Being sale is recorded)
Costs of goods sold $4,795
To Merchandise inventory $4,795
(Being the cost of goods sold is recorded)
