Answer:
The correct answer is D
Explanation:
The journal entry to be recorded for the salary is as:
Salary expense A/c...........................Dr $12,000
Salary Payable A/c...........................Cr $12,000
Being the salary which is paid weekly, become accrued
Working Note:
Single day amount = Weekly payment / Number of days
= $30,000 / 5
= $6,000 per day
So, computing for 2 days (Monday and Tuesday) salary as:
Amount = Per day salary × Number of days
= $6,000 × 2
= $12,000
In what why like packaging labels?
Answer:
the demand for the goods being taxed is perfectly inelastic.
Explanation:
When an indirect tax is levied, its burden can be shared between buyers & sellers. More inelastic demand / supply implies more burden on buyers / sellers respectively. The burden is shared between through price adjustment.
So: the tax levy leads to change in consumer surplus, change in producer surplus, change in government revenue & a deadweight loss which is gained by neither consumers / producers / government.
If demand is perfectly inelastic , entire tax burden is shifted to buyers in form of price rise. The entire consumer surplus lost is gained by government as extra tax revenue. So, their is no deadweight loss in this case.
Answer:
See below
Explanation:
Total manufacturing cost = direct material cost + direct labor cost + manufacturing overhead cost
Where
Direct material cost = Machining direct material cost + assembly direct material cost
= $425 + $175
= $600
The direct labor cost = Machining direct labor cost + Assembly direct labor cost
= $275 + $300
= $575
The machining overhead cost = Manufacturing overhead costs / Machine hours
= $280,000 / 50,000
= $5.6
So, cost = $5.6 × 50 = $280
Assembly overhead cost = Manufacturing overhead costs / direct labor hours
= $360,000 / 20,000
= $18
So, the cost = $18 × 65 = $1,170
= $600 + $575 + $280 + $1,170
= $2,625