Answer:
Date Account Title Debit Credit
January 31 Work in Process $540
Factory Overhead $540
Explanation:
Overhead is applies by linking it to direct labor.
Overhead is $20,000 when Direct labor is $100,000.
= 20,000 / 100,000
= 20%
The overhead for this job must therefore be:
= 20% * 2,700
= $540
Answer:
The demand of a product may increase due to several factors, including a decrease in the product's price, an increase in the price of the competition (substitute products), a decrease in the price of complement, or an increase in consumer income.
The company can only control the price they charge for the product, but they do not control the other external factors. If the supplier is able to increase the quantity supplied, the equilibrium price might not vary at least in the short run. If the external factors continue then the equilibrium will probably increase.
If the quantity demanded for Colgate increases, but the supplier is not able to increase the quantity supplied, then the equilibrium price will increase due to a shortage of the product.
Answer:
Explanation:
Postage expense. 1320
freight out. 1140
miscellaneous exp. 150
Cash. 2610
to replenish petty cash account
note that pettty cash is only debited or credited when you are increasing Or decreasing the petty cash fund. This entry appears to be only replenishing the petty cash account.
Answer:
$260,000
Explanation:
Opening balance = Ending balance - Increase in ending balance
=$66,000 - $10,000
=$56,000
Supplies Expenses = Opening balance + Purchases - Closing balance
=$56,000 + $270,000 - $66,000
=$336,000 - $66,000
=$260,000
Therefore, the amount that will be the adjusting entry to supplies expenses is $260,000
