Prepare journal entries to record the following production activities. 1. Incurred total labor cost of $77,000, which
Question:
1. Incurred total labor cost of $77,000, which is paid in cash.
2. Used $58,000 of direct labor in production.
3. Used $19,000 of indirect labor
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
1 Factory Payroll 77000 Cash 77000 Incurred direct la...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Question Posted:
Students also viewed these Managerial Accounting questions
-
Prepare journal entries to record the following transactions for DesmondCorporation: Apr. June Dec. 15 30 31 Declared a $48,000 cash dividend payable to common shareholders Paid the dividend declared...
-
Prepare journal entries to record the following grant-related transactions of an enterprise fund activity. Explain how these transactions should be reported in the enterprise funds financial...
-
Prepare journal entries to record the following transactions and events of Kash Company. 2011 Jan. 2 Purchased 30,000 shares of Bushtex Co. common stock for $204,000 cash plus a brokers fee of $3,480...
-
You are considering an investment that will be valued at $1,000 one year from now. Your next best alternative investment opportunity would yield an annual rate of return of 8%, In other words, if you...
-
For the acetone (1)/methanol(2) system a vapor mixture for which z1 = 0,25 and z2 = 0.75 is cooled to temperature T in the two-phase region and flow* into a separation chamber at a pressure of 1 bar....
-
Use the following adjusted trial balance of Wilson Trucking Company to prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, 2017. The K. Wilson,...
-
Describe primary and foreign keys. How do they differ?
-
Julie Company came into existence with a $2,000 cash investment by owners on January 1, 2011, and entered into the following transactions during 2011: Sales . . . . . . . . . . . . . . . . . . . . ....
-
During an experiment with moving sound sources, students notice a change in pitch. As a train approaches, the whistle's pitch appears higher, and as it moves away, the pitch seems lower. This change...
-
Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 9,000 travel locks for Grant, Inc. GRANT, INC. Flexible Budget...
-
Prepare journal entries to record its following production activities. 1. Purchased $80,000 of raw materials on credit. 2. Used $34,000 of direct materials in production. 3. Used $41,000 of indirect...
-
Refer to information in Exercise 20-3. Prepare journal entries to record the following production activities. 1. Paid overhead costs (other than indirect materials and indirect labor) of $22,000. 2....
-
Solve the equation, using the quadratic formula. If the equation has no real solution, so state. 2x 2 - 5x - 2 = 0
-
John Jefferson dies on November 10, 2019. John is on the cash basis of accounting for tax purposes. On November 29, 2019, a $4,000 paycheck covering the period November 1 November 8, 2019, is mailed...
-
Mary Beth is a CPA, devoting 3,000 hours per year to her practice. She also owns an office building in which she rents out space to tenants. She devotes none of her time to the management of the...
-
Richard Johnson held $50,000 of U.S. government savings bonds on the date of his death, December 11, 2019. The bonds mature in 2020. Unreported interest income on these bonds at the date of Richard's...
-
The trust instrument requires the trustee to distribute $40,000 annually to Carl Smith, the grantor's son. Any residual income may be distributed or accumulated for Bob Jones, Sam Smith, Earl Litt,...
-
Hershel Barker was the president and majority shareholder in Bulldog Inc. He was a cash-basis taxpayer who reported his income on a calendar-year basis. On March 1, 2019, Hershel was killed in a...
-
What incentive issue has been commonly resolved by the issuance of a convertible bond by the management of a firm?
-
Find the area of the surface generated by revolving the para- metric curve x = cos 1, y = sin? 1 (0 < I sa/2) about the y-axis.
-
Katherine acquired a 40-year lease on a property on 31 August 1999 for 75,000. On 31 August 2017 she assigned the lease to Francesco for 97,500. The property was never Katherine's residence. Compute...
-
Suncoast Company set the following standard costs for one unit of its product. Direct materials (4.5 lb. @ $ 6 per kg.) . . . . . . . . . $ 27 Direct labor (1.5 hrs. @ $ 12 per hr.) . . . . . . . . ....
-
Guadelupe Company has set the following standard costs per unit for the product it manufactures. Direct materials (10 lbs. @ $ 3.00 per lb.) . . . . . . .$ 30.00 Direct labor (4 hr. @ $ 6 per hr.) ....
-
Kenya Companys standard cost accounting system recorded this information from its June operations. Standard direct materials cost . . . . . . . . . . . . . . . . . . . . . . . . $ 130,000 Direct...
-
Explain a typical structural engineering project shown in figure. Planning Preliminary structural design Load estimation Structural analysis Safety/serviceability Yes Construction No Revised...
-
What are the 4 specialties of structural engineering? Any resources for core principles of structural engineering?
-
what are the role of structural analysis in structural engineering? What is the difference between structural engineering and structural analysis?
Study smarter with the SolutionInn App