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2 years ago

Kennedy Company reports the following costs and expenses in May.

Business

1 answer:

mamaluj [8]2 years ago

4 0

Answer:

a. $161,350

b. $398,050

c. $81,140

Explanation:

Total amount of manufacturing overhead

Factory utilities $16,500

Depreciation on factory equipment $12,650

Indirect factory labor $48,900

Indirect materials $70,800

Factory manager's salary $8,000

Property taxes on factory building $2,500

Factory repairs $2,000

Total $161,350

Note : Manufacturing Overheads are Indirect Manufacturing Costs that can not be easily traced to the Product being manufactured.

The total amount of product costs

Direct materials used $157,600

Direct labor $79,100

Manufacturing Overhead $161,350

Total $398,050

Note : Product Costs are Direct Manufacturing Costs that can be easily traced to the Product being manufactured.

The total amount of period costs

Depreciation on delivery trucks $3,800

Sales salaries $48,400

Repairs to office equipment $1,300

Advertising $23,000

Office supplies used $4,640

Total $81,140

Note : All Non Manufacturing Costs are Period Cost. Period Costs are expensed in the Income Statement.

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Zoey Bella Company has a payroll of $9,440 for a five-day workweek. Its employees are paid each Friday for the five-day workweek

Ratling [72]

Answer:

Dr Salaries expense $7,552

Cr Accrued salaries $7,552

Being entries to record salaries payable as at year end

Explanation:

When an expense is incurred but yet to be paid by an organization, the entries required are

Dr Expense (p/l)

Cr Accrued expense (B/s)

when payment is made

Dr Accrued expense (B/s)

Cr Cash account

Given that Zoey Bella Company has a payroll of $9,440 for a five-day workweek and the year ends on a Thursday. As such, the company as at 31 December has incurred salaries for 4 days. This has to be accrued for but first to calculate the amount

= 4/5 * $9,440

= $7,552

Hence adjusting entry required on December 31, assuming the year ends on a Thursday

Dr Salaries expense $7,552

Cr Accrued salaries $7,552

Being entries to record salaries payable as at year end

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3 years ago

Which research method involves manipulating a variable in order to determine how it affects another variable (in a cause and eff

Ipatiy [6.2K]

The research method that involves manipulating a variable in order to determine how it affects another variable (in a cause and effect relationships) is the experimental method. In this method, the experimenter would undergo several processes and along the way, he would manipulate the variables in order to see how it affects the other variable thus uncovering the cause and effect relationships of these variables.

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3 years ago

What are the roles of agriculture is to maximize the production in the agricultural sector ?

Serhud [2]

Answer:

introduction of modern machines for harvesting

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3 years ago

Jamal purchased a Subway franchise in a great location across the street from an outlet mall. After two years in business, Jamal

Alchen [17]

The correct answer to this open question is the following.

Although the question is incomplete because it does not attach the model to answer it we can comment on the following.

The problem is that Jamal, trying to increase profits, decided to sell two different products that are not part of the Subway products. When the franchisor visited Jamal's location, it realized the changes and set an ultimatum to Jamal to respect the franchise agreement.

The cause of the problem is that although Jamal wanted to diversify the products to have more income, this contradicts and is against the franchise agreement he signed when he bought the Subway franchise. The contract clearly states that the owner of the franchise can only sell products authorized in the contract by Subway. That is exactly one of the characteristics of a franchise. That you visit one of them any place in the world, and you are going to find de the same products with the same quality. That is the product guarantee of a franchise like Subway.

So the effects for the company are that its reputation an image can be questioned for selling different products that are hot approved by Subway. It is a major risk the company is not going to allow. Furthermore, it is stated in the contract. So Jamal has no right to break it.

One possible solution is that Jamal respects those 30 days to make the proper corrections, follow the guidelines established in the Subway's manuals, offer a sincere apology, and commit himself to operate the franchise just as it is stated on the agreement.

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3 years ago

Naomi is sixteen and she would like to open a savings account. Select each of the steps she will need to take.

shtirl [24]

I think its all the above except for they might be trying to trick you because at sixteen a guardian or parent has to sign aswell.

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3 years ago