What is the entry to record $500 of wages for the carpenter of the bookcase? Hint:...
What is the entry to record $500 of wages for the carpenter of the bookcase? Hint: Ask what kind of cost it is (period or product? If product: DM, DL, indirect? and then decide how it is treated)
Homework Answers
Entry to record $500 of wages for the carpenter of the bookcase will be as under:
| Wages expense | 500 | ||
| Cash | 500 |
Wages expense is a kind of product cost.
Period costs are administrative and selling expenses.
Wages expense is a direct labor.
It is a part of prime cost and thus it is integral part of cost of production.
Kindly comment if you need further assistance. Thanks
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What is the entry to record $500 of wages for the carpenter of
the bookcase? Hint:...
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1.
If the cost object is an airplane, classify each cost as one of
the following: direct material (DM), direct labour (DL),
indirect labour (IL), indirect materials (IM), other
manufacturing overhead (other MOH), or period cost. What is the
total for each type of cost?
2.
Calculate total manufacturing overhead costs.
3.
Calculate total inventoriable product costs.
4.
Calculate total prime costs.
5.
Calculate total conversion costs.
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Calculate total period costs.
An aircraft manufacturer incurred the following costs last...
00 1.25 points Pactory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters $ 3,200 1,050 31,200 2,090 580 875 3,580 155 5,080 4,170 285 1,250 1,090 2,010 8,500 eBook Print Assume that Suzie Whitson has decided to begin production of her outdoor children's toy. References Required: 1 and 2. Identify each...
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production? (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)2. What is the ending balance in Raw Materials?3. What is the journal entry to record the labor costs incurred
during the year? (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)4. What is the total amount of manufacturing overhead applied...
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month of january and what is rhe entry to assign factory labor
production?
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