1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Maru [420]
2 years ago
13

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. Labor Hours Used Hourly Rate Partner 5 $ 500 Senior manager 12 200 Staff accountants 100 50 1. Prepare journal entries to record direct labor and the overhead applied.
Business
1 answer:
attashe74 [19]2 years ago
8 0

Answer:

1. Dr Services in process inventory9,900

Cr Service salaries payable9,900

Dr Services in process inventory4,950

Cr Services overhead4,950

2. Dr Cost of services provided14,850

Cr Services in process inventory14,850

Explanation:

1.Preparation of journal entries to record direct labor andthe overhead applied.

Dr Services in process inventory9,900

Cr Service salaries payable9,900

[(5 × $500) + (12 × $200) + (100 × $50) = $9,900]

Dr Services in process inventory4,950

Cr Services overhead4,950

($9,900 x 50% = $4,950)

2.Preparation of the journal entry to record the cost of services provided.

Dr Cost of services provided14,850

Cr Services in process inventory14,850

($9,900+$4,950=14,850)

[(5 × $500) + (12 × $200) + (100 × $50) = $9,900]

+($9,900 x 50% = $4,950)

You might be interested in
Accumulating capitala. requires that society sacrifice consumption goods in the present.b. allows society to consume more in the
Leokris [45]

Answer: A

Explanation: capital accumulation is increasing the capital structure of a society in form of profitable investments. means the gathering of objects of value; the increase in wealth; or the creation of wealth. And this can be enhance by motivating the public to sacrifice some consumer goods for some industrial good or asset.

6 0
3 years ago
Read 2 more answers
Which of the following is not one of the four components of the business process
FrozenT [24]
Do you have a list of the components? 
4 0
3 years ago
What is a buying plan and why is it important?
Fed [463]
Buying plan is often promised free or deeply discounted products
8 0
3 years ago
The lower the user's switching costs:
JulijaS [17]

Answer:

more intense the competitive pressures posed by substitute products.

Explanation:

The lower the user's switching costs: the more intense the competitive pressures posed by substitute products.

Switching costs can be defined as the cost of a consumer switching from a product to a substitute good.

Therefore when such switching costs are low, it will be easier to switch from one product to another, implying that the competitive pressure from substitute goods are higher.

8 0
3 years ago
Read 2 more answers
Productivity is a measure of:
Crazy boy [7]

I think the answer you're looking for is 'D' if you're asking what productivity is in a generalized sense.

5 0
3 years ago
Other questions:
  • Getting a loan you have to repay is known as
    10·1 answer
  • Under the retail method, in determining the cost-to-retail percentage for the current year: Multiple Choice Net markups are incl
    6·1 answer
  • Elisa grew up speaking Spanish, but learned to speak English as an adult, and she now works as a translator for a U.S. company t
    14·1 answer
  • House Loan. Suppose you take out a home mortgage for $180,000 at a monthly interest rate of 0.5%. If you make payments of $1000/
    10·1 answer
  • Suppose Value Home and Garden Imports issued 400,000 shares of $0.10 par common stock at $4 per share. Which journal entry corre
    12·1 answer
  • If contracting parties attach materially different meanings to a contract word or term subject to more than one reasonable inter
    15·1 answer
  • You deposit $1,000 into a 2 year Certificate of Deposit (CD), which earns 2% interest per year. During those 2 years, the inflat
    13·1 answer
  • Huron has provided the following year-end balances:Cash, $30,000Patents, $8,800Accounts receivable, $9,800Property, plant, and e
    14·1 answer
  • Tulane Tires wrote a contract for a $104,000 sale of tires to the new Garden District Tour Company. Tulane only anticipates a sl
    7·1 answer
  • how would you expect judge oh to rule in a case where a toy manufacturer is being sued for producing a toy that led to the death
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!