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BaLLatris [955]
3 years ago
10

During the current month, Wacholz Company incurs the following manufacturing costs. (a) Purchased raw materials of $17,500 on ac

count. (b) Incurred factory labor of $39,900. Of that amount, $30,800 relates to wages payable and $9,100 relates to payroll taxes payable. (c) Factory utilities of $3,500 are payable, prepaid factory property taxes of $2,770 have expired, and depreciation on the factory building is $9,900.
Business
1 answer:
scoundrel [369]3 years ago
6 0

Answer and Explanation:

The journal entries are shown below:

a. Raw material inventory $17,500

        To Account payable $17,500

(Being raw material inventory purchased on account)

b. Factory labor $39,900

       To Factory wages payable $30,800

       To Employer payroll tax payable $9,100

(Being factory labor is recorded)

c.  Factory Overhead $16,170

        To Factory Utilities payable $3,500

         To Prepaid Factory property taxes $2,770

        To Accumulated Depreciation $9,900

(Being Manufacturing costs is recorded)  

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Edwards Company manufactures low-cost wooden chairs and uses activity-based costing. The following information is for the month
Airida [17]

Answer:

$37.80

Explanation:

Particulars                                           Amount       Calculations

Direct materials                                    $7.00

Handling                                               $2.80          ($3,500/5,000*4 parts)

Assembling                                           $9.60          ($12,000/5,000*4 parts)

Packaging                                             <u>$18.40 </u>        ($5,750/1,250*4 parts)

Total manufacturing cost per chair   <u>$37.80</u>

3 0
3 years ago
Assume Zap industries reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $ 1,730,200 $
Mazyrski [523]

Answer:

The amount of Bad Debt Expense reported in 2019 was $16,100.

Explanation:

Our concern is mainly on the allowance for doubtful accounts. Based on the facts given in the question, the opening balance of the allowance account was $79,900 credit balance, while the closing balance was $96,000 credit. Since there were no write-offs or recoveries during 2019, the bad debt expense is simply the difference between the closing balance and the opening balance i.e, $96,000 - $79,900 = $16,100.

The journal entries will be:

Debit Bad debt expense                                           $16,100

Credit Allowance for doubtful account                    $16,100

<em>(To record the bad debt expense for 2019)  </em>

4 0
3 years ago
the 5 basic marketing strategies are called the 5 p's. another name for these strategies is ________.
MatroZZZ [7]
I believe it's the marketing mix?
6 0
3 years ago
The type of engine that contains 2 camshafts mounted in its cylinder head is called a/an A. overhead camshaft engine. B. push ro
vampirchik [111]
C.


Hope this help! :3
6 0
3 years ago
Read 2 more answers
_________ occurs when a good or service is produced at the lowest possible cost.
kolbaska11 [484]

Answer:

The correct option is C,productive efficiency

Explanation:

Allocative efficiency occurs when goods are produced to reflect the preferences of the consumers.This means that the producers are not concerned about deploying their resources in the most efficient manner as the overriding point is the satisfaction of customers' expectations.Hence option B is wrong.

Voluntary exchange refers to process of suppliers and customers engaging  in business transactions with freewill.

However,productive points to effective and efficient allocation of resources to yield maximum output and at the lowest possible cost per unit.No doubt option C is the correct answer.

3 0
3 years ago
Read 2 more answers
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