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]
2 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]2 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
Hich correlation coefficient is one most likely to find between hours spent studying each week and cumulative gpa among college
8090 [49]

<u>".30"</u> is one most likely to find between hours spent studying each week and cumulative gpa among college students.


The correlation coefficient is a statistical measure that figures the quality of the connection between the relative developments of the two factors. The scope of qualities for the relationship coefficient limited by 1.0 on a flat out esteem premise or between - 1.0 to 1.0. In the event that the relationship coefficient is more prominent than 1.0 or not exactly - 1.0, the connection estimation is inaccurate. A connection of - 1.0 demonstrates an immaculate negative correlation, while a connection of 1.0 demonstrates a flawless positive correlation. A connection of 0.0 shows zero or no connection between the development of the two factors.

3 0
3 years ago
Consider a production possibilities frontier (PPF) with good X on the horizontal axis and good Y on the vertical axis. The PPF i
Ahat [919]

Answer:

C

Explanation:

The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.  

As more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.

If the PPF is a straight line, it means there is a constant opportunity cost no matter the point one is on the curve

8 0
3 years ago
Witch type of group discussion requires a lot of active participation from the audience?
BARSIC [14]

Class participation

7 0
3 years ago
Read 2 more answers
On January 1, 2017, Grand Haven, Inc., reports net assets of $945,300 although equipment (with a four-year remaining life) havin
sineoko [7]

Answer:

patent on the consolidated estament: 32,000

Explanation:

45,000 x 80% = 36,000

36,000 / 9 = 4,000 amortization per year

 patent of Grand heaven

<u>      debit           credit        </u>

  36,000 recognize at purchase

                        4,000 december 31th amortization

  32,000 balance.

3 0
3 years ago
Under SEC rules, filing of the Form 144, required when selling restricted stock, is the responsibility of the:________. A. issue
IRINA_888 [86]

Answer: C. seller

Explanation:

The filing of SEC Form 144 is the responsibility of a representative of the company that wishes to sell the stock. The company can be represented by an executive officer, a director, or a recognised affiliate of the company.

This form is filled when the restricted stock to be sold either exceeds 5,000 in number or would command a price greater than $50,000.

7 0
3 years ago
Other questions:
  • The idea that the demand for autoworkers stems from the demand for automobiles is
    14·1 answer
  • If a contract term is ambiguous a court can consider extrinsic evidence <br> a. True <br> b. False
    12·2 answers
  • The three types of mathematical simulation models are
    8·1 answer
  • Ritchie Manufacturing Company makes a product that it sells for $150 per unit. The company incurs variable manufacturing costs o
    12·1 answer
  • b. (5 points) Currently, some of Baryla's inventory includes $2.3 million of outdated and damaged goods that simply remain in in
    5·1 answer
  • The HR department at Buckworth Consulting recently developed and employed a certain test in the selection process for managers.A
    13·1 answer
  • 18.On January 1, 2016, the Accounts Receivable and the Allowance for Uncollectible Accounts for Darius Company carried balances
    6·1 answer
  • Journalize the entries for the following transactions. Refer to the Chart of Accounts for exact wording of account titles. (Note
    10·1 answer
  • *<br> What items make an Water based stain?
    6·1 answer
  • When Job 117 was completed, direct materials totaled $5,090; direct labor, $5,838; and factory overhead, $4,042. A total of 1,49
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!