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3 years ago

How pay for workers is determined?

1 answer:

3 0

According to most economics textbooks, our wages are determined just like any other price: by supply and demand. People supply their labor, and companies demand it, creating a market for labor.

I hope this answer helps you :D

And have a great day!

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The recording of the factory labor incurred for general factory use would include a debit to:

DanielleElmas [232]

It would be a debit to FOH (Factory Overhead).

7 0

3 years ago

Costs of goods sold of a manufacturing represents the costs related to building a product that are expensed when it is sold. to

Anastasy [175]

There are 3 types of Inventory as below:

1) Raw Material Inventory

2)Work in Process Inventory

3)Finished Goods Inventory

Schedule for Work in Process Inventory is as below:

Beginning Balance of Work in Process...................................................................XXX

Direct Materials

Beginning Balance of Direct Materials................................XXX

Add: Purchase of Raw Materials...........................................XXX

Total Raw Materials Available...............................................XXX

Less: Ending Balance of Raw Materials..............................(XXX)

Raw Materials Consumed.....................................................................XXX

Direct Labour...........................................................................................XXX

Manufacturing Costs

Indirect Labour....................................XXX

Factory Repairs...................................XXX

Factory Utility......................................XXX

Total Manufacturing Overhead............................................................XXX

Total Manufacturing Costs....................................................................................XXX

Total Cost of Work in Process..............................................................................XXX

Less: Ending Balance of WIP................................................................................(XXX)

Cost of Goods Manufactured................................................................................XXX

3 0

4 years ago

Serile Pharma places 800 units in production during the month of January. All 800 units are completed during the month. It had n

liberstina [14]

Answer:

Per unit cost will be $197.5

Explanation:

We have given number of units produced = 800

Direct material cost added in January = $74000

And conversion cost added in January = $84000

So total cost = $74000+$84000 = $158000

We have to find the per unit cost of product produced

So per unit cost is given by total cost divided by total number of units produced

So per unit cost $=\frac{158000}{800}=$197.5$

4 0

4 years ago

Android Products, Inc., agreed to accept a $1,000, one-year, 10 percent note from C. Mate. On its maturity date of December 16,

kodGreya [7K]

Answer:

Dr Cash $1,100

Cr Notes receivable $1000

Cr Interest revenue $100

Explanation:

The $1,100 receipt of cash from C.Mate comprises of $1000 principal and $100 interest revenue,the $1000 should be credited to notes receivable since it is a reduction in asset and $100 credited to interest revenue as an increase in income.

The debit would be to cash account as an increase in cash and cash equivalents in the balance sheet of Android Products Inc,under the current assets section.

8 0

4 years ago

Suppose a company owns a warehouse that costs $500,000 and depreciates at $10,000 per year. If the interest rate is 5%, what is

netineya [11]

Answer: $35,000

Explanation:

Implicit rental price = Interest payment + Depreciation

Interest payment = 5% * 500,000

= $25,000

Implicit rental price is therefore:

= 25,000 + 10,000

= $35,000

4 0

3 years ago