Answer: a). Debit Factory Payroll Payable $160,000; credit Cash $160,000.
Explanation: Direct labor refers to the manpower used in production. They are the factory workers involved in using the raw materials to produce finished goods.
Expense on direct labor is provided for during the production by a debit to factory payroll expense and a credit to factory payroll payable.
As such, the journal entry will be a debit to factory payroll payable $160,000 and a credit to cash $160,000. This means cash will reduce by $160,000 as the factory workers are paid while payables which is a provision account will reduce as well on the cash book by the same amount.
Answer:
Explanation:
The expenses that Ryan can deduct for the business trips he had is calculated by summing up the expenses he had with regards to gasoline and the depreciation.
Cost of gasoline = (3,760 miles)($1,590/18,800 miles) = $318
Cost of depreciation = $4,800
Adding the costs will give us an answer of $5118.
Answer: $5,118
Answer:
$2.10
Explanation:
The computation of the cost per equivalent unit for direct material is shown below:
= (Direct material cost + Beginning inventory cost) ÷ (equivalent units for the materials)
where,
Equivalent units would be
= Completed and transferred units + beginning work in progress units + additional units
= 25,000 + 110,000 + 30,000
= 165,000 units
And, all the other things would remain the same
= ($253,000 + $93,500) ÷ (165,000 units)
= $2.10
Since all the units are completed with 100% and we consider it same
Answer:
During the initiation phase, what does project selection help to do?
The initiation phase entails the starting point of the project, project selection comes in after the scope, objectives and how it would be delivered has been defined thoroughly. Project selection helps to make decision to know when the project would be ready for delivery, also the format of execution would be known, furthermore, any deviation from the initiation would be detected early and corrected if there is any
Explanation:
Answer:
The marginal return of production of the second worker or marginal product of the second worker is 10 cones.
Explanation:
One worker can make 15 cones of ice cream in an hour.
Two workers can make 25 cones in the same time.
While three workers can make 30 cones in an hour.
The marginal return of the production of the second worker is the contribution of the second worker in the total output.
Marginal return
= 25 cones - 15 cones
= 10 cones