Payroll entries are made with data from the
a. wage and tax statement
b. employee's earning record
c. employer's quarterly federal tax return
d. payroll register
d
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The journal entry to record $1600 of direct labor and $200 of indirect labor incurred will include debit(s) to the ________.
A) Manufacturing Overhead account for $1800 B) Work-in-Process Inventory account for $1600 and Finished Goods Inventory account for $200 C) Finished Goods Inventory account for $1800 D) Work-in-Process Inventory account for $1600 and Manufacturing Overhead account for $200
Partner A purchases Partner B's $3,000 interest from Partner B for $5,000. The entry to record the transaction is for $3,000
Indicate whether the statement is true or false
Peter Drucker stated that since it is the customer who defines value, the business enterprise has only two business functions: marketing and innovation.
Answer the following statement true (T) or false (F)
Wineman Incorporated makes a single product-an electrical motor used in many long-haul trucks. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted (Planned) Overhead: Budgeted variable manufacturing overhead$153,425 Budgeted fixed manufacturing overhead 352,925 Total budgeted manufacturing overhead$506,350 Budgeted production (a) 25,000units Standard hours per unit (b) 1.90machine-hours Budgeted hours (a) × (b) 47,500machine-hours Applying Overhead: Actual production (a) 23,000units Standard hours per unit (b) 1.90machine-hours Standard hours allowed for
the actual production (a) × (b) 43,700machine-hours Actual Overhead and Hours: Actual variable manufacturing overhead$107,000 Actual fixed manufacturing overhead 336,925 Total actual manufacturing overhead$443,925 Actual hours 42,800machine-hours ?The variable overhead rate variance is: A. $31,901 F B. $31,244 F C. $31,901 U D. $31,244 U