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horrorfan [7]
3 years ago
6

Diaz and Associates incurred the following costs in completing a tax return for a large company. Diaz applies overhead at 50% of

direct labor cost. LaborHours Used Hourly Rate Partner 5 $450 Senior manager 13 160 Staff accountants 100 70 1. Prepare journal entries to record direct labor and the overhead applied.
Business
1 answer:
muminat3 years ago
4 0

Answer:

Date                   Accounts Receivable                               Debit            Credit

XX-XX-XXXX    Work in Process                                    $11,330

                          Wages Payable                                                         $11,330

Date                   Accounts Receivable                               Debit            Credit

XX-XX-XXXX     Work in Process                                    $5,665

                           Manufacturing overhead                                            $5,665

<u>Working</u>

Total labor cost:

= Partner cost + Senior manager cost + Staff accountants

= (5 * 450) + (13 * 160) + (100 * 70)

= $11,330

Overhead is 50% of direct labor cost:

= 11,330 * 50%

= $5,665

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The group of retired executives that work with small businesses as advisors on a wide range of issues is called the:
VLD [36.1K]

Answer:

Service Corps of Retired Executives (SCORE

Explanation:

The SCORE is a non profit organization. Their members are retired executives who are engaged with the provision of free consultation and counseling services and also giving advices to entrepreneurs and small business owners.

This organization has offices in most parts of the united states and their services can be rendered in person or online. Their counseling services are in all areas and the client bears no charges.

7 0
2 years ago
ou are considering implementing a lockbox system for your firm. The system is expected to reduce the collection time by 3 days.
Taya2010 [7]

The net present value of this lockbox arrangement is $1,205,378.06.

Since you are considering implementing a lockbox system for your firm, and on an average day, your firm receives 1,370 checks with an average value of $ 880 each, and the daily interest rate on Treasury bills is 0.01 percent, and the bank charge per check would be $ 0.25, to determine what is the net present value of this lockbox arrangement, the following calculation must be performed:

  • ((1370 x 880) x 1.0001) - (1370 x 0.25) = X
  • 1,205,720.56 - 342.5 = X
  • 1,205,378.06 = X

Therefore, the net present value of this lockbox arrangement is $1,205,378.06.

Learn more about maths in brainly.com/question/25903947

5 0
2 years ago
Gross Domestic Product Title: Grantham Copyright - Description: Grantham Copyright 2018Use the data chart to answer the question
adoni [48]

Answer:

1. $ 750

2.  - $ 50

3.   $ 600

4.  $ 600

Explanation:

1. Using the data  GDP = C+I+G+ (X-M)

GDP=  $500 +$100 + $ 200 + ($50-$100)

GDP= $ 800 + (-50)

GDP = $ 750

2. NET EXPORTS = EXPORTS - IMPORTS= $ 50- $ 100= -$50

3. PCE=  Consumption+ Private Domestic Investment= $ 500 + $ 100= $ 600

4. GDP 2017= $ 750 *80%=  $ 600

7 0
3 years ago
Assume that the money demand function is (M / P)d = 2,200 – 200r, where r is the interest rate in percent. If the price level is
Wittaler [7]

Answer:

The money supply should be set at 800

Explanation:

In this question, we are asked to calculate the value at which Fed should set the money supply at after fixing the interest rate at 7 percent.

We proceed as follows;

Let the new money supply be M.

To fix the interest rate at 7%, r= 7 and P = 2

(M/P)d = 2,200 - 200r

= 2200 - 200(7)

=2200-1400

= 800

M = 800

8 0
2 years ago
Match each situation with the method of government intervention used to rectify it.
Natali5045456 [20]
1:People have too much money, and there is a danger of inflation. - <span>B contractionary fiscal policy
</span><span>
2:The GDP has fallen to an all-time low, and there is low demand for most goods. - </span><span>D:expansionary fiscal policy
</span><span>
3:Few farmers produce cotton because profits are at the equilibrium price. - </span><span>A:price floor
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4:Prices of staple foods have shot up because of shortages after an earthquake. - </span>C:price ceiling
5 0
2 years ago
Read 2 more answers
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