Answer:
Explanation:
Journal entries:
Oct 1
Dr Cash 41,000
Cr Common stock 41,000
Oct 2
No entry
Oct 3
Dr Equipment 4,400
Cr Accounts payable 4,400
Oct 6
Dr Accounts receivable 13,000
Cr Sales 13,000
Oct 10
Dr Cash 170
Cr Service revenue 170
Oct 27
Dr Accounts Payable 880
Cr Cash 880
Oct 30
Dr Salaries expense 2,500
Cr Cash 2,500
Answer:
I dont know what you are saying
Explanation:
Answer:
Overhead budget:
Variable overhead= 274,400
Fixed overhead= 180,000
Total overhead= $454,400
Explanation:
Giving the following information:
Production= 4,900 units
Each unit requires 5 hours of direct labor at a rate of $16 per hour.
Variable factory overhead is budgeted to be 70% of direct labor cost
Fixed factory overhead is $180,000 per month.
First, we need to determine the direct labor cost:
Direct labor cost= (4,900*5)*16= $392,000
Now, we can calculate the overhead budget:
Overhead budget:
Variable overhead= (0.7*392,000)= 274,400
Fixed overhead= 180,000
Total overhead= $454,400
Answer:
D. total variable costs
Explanation:
A purely competitive firm should produce in the short run if its total revenue is sufficient to cover its <u>total variable costs</u>.
In short run, fixed cost had to be incurred even if it shuts down. So it should operate as long as price is greater than average variable cost.
Answer:
$16,850
Explanation:
The computation of first-year depreciation is shown below:-
Cost minus salvage = $68,400 - $1,000
= $67,400
First-year depreciation = Cost minus salvage ÷ Annual depreciation expense
= $67,400 ÷ 4
= $16,850
Therefore for computing the first year depreciation we simply annual depreciation expense by cost minus salvage.
