The correct answer is: [A]: "TRUE" .
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The journal entry to record the factory labor costs (as per the time tickets) is as follows:
<h3>Journal Entry</h3>
Debit Work in Process:
Job 100 $2,680
Job 101 2,220
Job 104 4,070
Job 108 4,640
Job 111 2,830
Job 115 1,860
Job 117 12,570
Debit Factory overhead $14,280
Credit Factory Labor costs $45,150
<h3>Data Analysis:</h3>
Job No. Amount
100 $2,680
101 2,220
104 4,070
108 4,640
111 2,830
115 1,860
117 12,570
Factory overhead (Indirect labor costs) $14,280
Thus, the factory labor costs are <u>debited</u> to the Work in Process for various jobs and the factory overhead (indirect costs), while the <u>credit</u> entry goes to the Factory Labor Costs account.
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Answer:
The entry made by Trust Company on January 1 to record the proceeds and issuance of the note is
Debit Credit
Cash $100,000
Notes Payable $100,000
The right answer is c
Explanation:
According to the given data the interest will not be adjusted at the time of loan proceed and issuance of note
Therefore, The entry made by Trust Company on January 1 to record the proceeds and issuance of the note is the following:
Debit Credit
Cash $100,000
Notes Payable $100,000
To record the borrowing
The marginal cost of the second candy bar is:$0.61.
<h3>Marginal cost</h3>
Using this formula
Marginal cost=Selling price for two-Selling price for one
Where:
Selling price for one=$0.89
Selling price for two=$1.50
Let plug in the formula
Marginal cost=$1.50-$0.89
Marginal cost=$0.61
Inconclusion the marginal cost of the second candy bar is:$0.61.
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I believe it may be D, hope that helps. Forgive me if not. :(
