Reference no: EM132560967
Thal Engineering has its factory located at Gharo and has its head office at Shaheed e Millat Road Karachi. Following are the selected transactions from the record of Thal Engineering for the month of October 2018:
i. Direct material of Rs 20 Million was purchased on account.
ii. The factory payroll for Rs 4.5 Million Direct labor and Rs 0.9 Million was mailed to the head office. The head office payroll was Rs 1.5 \Million for Marketing and Sales Salaries and Rs 2.1 Million for Administrative Salaries. Employee payroll deductions were recorded at the home office at these rates; 6.5% for FICA tax; 18% for Federal Income Tax.
iii. Employer payroll tax expense is recorded at the home office. State unemployment tax rate 1.8%; Federal unemployment tax rate 0.7%.
iv. Direct material of Rs. 8000 was returned to store room and defective raw material of Rs. 25000 was returned to the supplier which was purchased on account.
v. Depreciation on machinery amounting to Rs. Rs 100,000, and other factory expenses paid amounting to Rs. 245,000
vi. Goods completed with a total cost of Rs 200 Million were transferred to finished goods.
vii. Sales were Rs 180 Million costing Rs 127 Million to produce.
Required
Question 1: How to Construct general entries to record the above transactions
Calculate total production costs for the month
: Assume Alta intends to produce 400 units next month. Calculate total production costs for the month. Describe the production costs in equation form Y = f + vX
|
Understanding diversity through social identities
: What was your concept of "diversity" before you enrolled in this course, and in what ways, if any, has that concept been affirmed/modified/changed
|
Which of the behavioral components does burns exemplify
: Exhibit 9.4 identifies transformational and charismatic leader behaviors. In your opinion, which of the behavioral components does Ms. Burns exemplify.
|
What is the amount of funds received from the investors
: Jane decides to obtain additional funding through the issuance of $10,000,000 in bonds, What is the amount of funds received from the investors
|
How to construct general entries to record the transactions
: How to Construct general entries to record the transactions? Thal Engineering has its factory located at Gharo and has its head office at Shaheed
|
What is the correct entry for flores on november
: On November 10 of the current year, Flores Mills sold carpet to a customer for $8,100 with credit terms 2/10, n/30. What is the correct entry for Flores
|
Investigate a popular dietary supplement
: Investigate a popular dietary supplement (some examples include: Echinacea, ephedra, zinc tablets, DHEA, chondroitin
|
Solve the unit manufacturing cost of the serta and the tempu
: Solve the unit manufacturing cost of the Serta and the Tempu using activity-based costing. Show your calculations using a simple Excel spreadsheet.
|
IP Communication For Crucial Conversations
: In your leadership role, you have to make a difficult decision about restructuring the department. What affect will these lay-offs have on the budget?
|