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
Olegator [25]
3 years ago
15

During the current month, Wacholz Company incurs the following manufacturing costs. Purchased raw materials of $18,000 on accoun

t. Incurred factory labor of $40,000. Of that amount, $31,000 relates to wages payable and $9,000 relates to payroll taxes payable. Factory utilities of $3,100 are payable, prepaid factory property taxes of $2,700 have expired, and depreciation on the factory building is $9,500. Prepare journal entries for each type of manufacturing cost. (Use a summary entry to record manufacturing overhead.)
Business
1 answer:
Allushta [10]3 years ago
7 0

Answer:

A. Dr materials inventory $18,000

Cr Accounts payable $18,000

B. Dr Factory labor $40,000

Cr Factory wages payable $31,000

Cr Employer Payroll Taxes Payable $9,000

C. Dr Manufacturing overhead $15,300

Cr Prepaid Property Taxes $2,700

Cr Accumulated Depreciation-Buildings $9,500

Cr Utilities Payable $3,100

Explanation:

Preparation of the journal entries for each type of manufacturing cost.

A. Dr materials inventory $18,000

Cr Accounts payable $18,000

(Being the Purchased of raw materials on account)

B. Dr Factory labor $40,000

Cr Factory wages payable $31,000

Cr Employer Payroll Taxes Payable $9,000

(Being to record Incurred factory labor)

C. Dr Manufacturing overhead $15,300

($2,700+$9,500+$3,100)

Cr Prepaid Property Taxes $2,700

Cr Accumulated Depreciation-Buildings $9,500

Cr Utilities Payable $3,100

(Being to record Manufacturing overhead)

You might be interested in
Most employees who use flextime prefer to work independently of others. In order to accommodate this preference, businesses perm
Drupady [299]
I think that the answer is True, because this is a good schedule to these people
3 0
3 years ago
On December 31, 2017, Jerome Company has an accounts receivable balance of $316,000 before any year-end adjustments.
katovenus [111]

Answer:

The Allowance for Uncollectible Accounts at December 31, 2017 is $10,430

Explanation:

In order to calculate the Allowance for Uncollectible Accounts at December 31, 2017 we would have to make the following calculation:

Allowance for Uncollectible Accounts at December 31, 2017=Estimated Allowance 1-30 days+Estimated Allowance 31-60 days+Estimated Allowance 61-90 days+Estimated Allowance over 90 days

Estimated Allowance 1-30 days=Balance*% Uncollectible

Estimated Allowance 1-30 days=$152,000*1%=$1,520

Estimated Allowance 31-60 days=$87,000*2%=$1,740

Estimated Allowance 61-90 days=$50,000*3%=$1,500

Estimated Allowance over 90 days=$27,000*21%=$5,670

Allowance for Uncollectible Accounts at December 31, 2017=$1,520+$1,740+$1,500+$5,670

Allowance for Uncollectible Accounts at December 31, 2017=$10,430

5 0
3 years ago
Duane and Evan orally agree to a transfer of forty acres of farmland. Evan asks Finance Bank to lend him the funds to buy the la
harina [27]

Answer:

a. Finance Bank

Explanation:

According to Statute of Fraud, the agreement must be in writing to be within the statute and enforceable.  The oral contracts are usually enforceable but the transfer of land needs to be in writing to be enforceable according to law of Statute of Fraud. If the contract is in writing it would be adequate to be enforceable. While the contract with bank must have some written form which will make it enforceable contract by the finance bank.

8 0
3 years ago
Read 2 more answers
Young children are permitted to work in the manufacturing of soccer balls in Pakistan, but this would not be legal in the United
e-lub [12.9K]

Answer:

no jodas

Explanation:

6 0
3 years ago
You are choosing between these four investments and you want to be​ 95% certain that you do not lose more than 8.00 % on your in
MakcuM [25]

Answer:

option B

Explanation:

In other to know how return fluctuation can be predicted with for instance, x%, predictability, one has to look at the normal distribution curve of return (average returns) to standard deviation of those returns. (check the attached file for additional details).

Hence, to be 95% sure that investment losses are less than 8% one needs to look at 95% of all returns which infact Mean return plos or minus 20. If the lower bound of this interval is less than 8% then the investment needs to be selected

check attached file for additional details

8 0
3 years ago
Other questions:
  • Blossom Electric sold $3,800,000, 8%, 10-year bonds on January 1, 2020. The bonds were dated January 1 and pay interest annually
    12·1 answer
  • Can someone type a paper for me
    9·2 answers
  • Passerine runs a tapestry shop in Rome, weaving historical images for the tourism industry. Lately, her arthritis has gotten wor
    12·1 answer
  • Select the sentence that is completely correct. Most American cars are delivered fob Detroit; however, imports are not. Most Ame
    13·1 answer
  • You have been provided with the following information: If sales decrease by 500 units, how much will fixed expenses have to be r
    8·1 answer
  • Levered, Inc., and Unlevered, Inc., are identical in every way except their capital structures. Each company expects to earn $29
    10·1 answer
  • Bolt Corp. dismissed Ace as its general sales agent and notified all of Ace’s known customers by letter. Young Corp., a retail o
    7·1 answer
  • C
    13·2 answers
  • if there was a shirt that looks identical but came out in two different seasons how do you explain the price difference to the c
    5·1 answer
  • The fact that you cannot isolate the production of a ride through a ride-share service such as uber or lyft from its consumption
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!