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maria [59]
4 years ago
13

What would be included in the entry to record actual Manufacturing Overhead costs incurred in a process​ department?

Business
1 answer:
stira [4]4 years ago
5 0

Answer:

debit to manufacturing overhead.

Explanation:

When a product is manufactured, some costs are associated with the production processes. These costs are indirect costs which includes but not limited to; depreciation, rent of buildings, salaries(maintenance and managers) , wages, utilities for the factory etc. Manufacturing overhead consist of all production costs except direct material and labor.

With regards to the above, when actual manufacturing overhead costs(machine maintenance, supervisor salary, factory utilities) are incurred in a given period, they are recorded as debit in the manufacturing over head account while the credit entry goes to account payable.

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what budget is a type of financial report that scrutinizes the inflow of money in a given financial year?
earnstyle [38]

That is known as a cash flow statement.

6 0
4 years ago
Adrian Atwood, a senior manager at MNC, spends a lot of his time assigning group members to particular tasks and scheduling thei
Triss [41]

Answer:

According to the Ohio state studies , we can say that the Adrian as leader is high in initiating structure.

Explanation:

Initiating structure can be defined as the particular degree to which a leader would define his or her role and also specify and organize the role of employees too, in order to achieve the organizations goals.

Adrian is also doing the same thing here, as she has given a lot of time in assigning employees their particular tasks and scheduling their work , in such a way that goals are achieved.

3 0
4 years ago
Why is the U.S. economy sometimes referred to as a modified free enterprise system?
Tcecarenko [31]
The United States economy is sometimes referred to as a modified free enterprise system due to the fact that it is capitalist. This means that there is no monopoly on a particular aspect of trade or business, so anybody can start a company.
8 0
4 years ago
Patricia, a professional gambler, had the following income and expenses in her business: Gambling winnings$275,000Expenses Fees
Yuliya22 [10]

Answer:

C. $258,000.

Explanation:

The computation of the net income reported is shown below:

= Gambling winnings - Travel costs - Office expenses - Supplies - Business long-distance phone charges

= $275,000 - $8,000 - $5,000 - $3,000 - $1,000

= $258,000

For computing this we ignored the illegal cost related to the illegal parking and the illegal information

5 0
3 years ago
For Goody Company, the budgeted cost for one unit of product is direct materials $10, direct labor $20, and manufacturing overhe
dybincka [34]

Answer:

$475,000

Explanation:

Direct materials (M) = $10 per unit

Direct labor (L) = $20 per unit

Manufacturing overhead (O) = 80% of L = 0.8 *$20 =$16 per unit

Selling Price (S) = $65 per unit

Units sold (N) = 25,000 units

The budgeted gross profit for 25,000 units is:

P = N*(S-(M+L+O))\\P=25,000*(\$65-(\$10+\$20+\$16))\\P=\$475,000

The budgetd gross profit for Goody Company is $475,000

6 0
3 years ago
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