The gross earnings of the factory workers for vargas

Assignment Help Accounting Basics
Reference no: EM13580851

The gross earnings of the factory workers for Vargas Company during the month of January are $66,100. The employer's payroll taxes for the factory payroll are $9,100. The fringe benefits to be paid by the employer on this payroll are $5,700. Of the total accumulated cost of factory labor, 85% is related to direct labor and 15% is attributable to indirect labor.

(a)
Prepare the entry to record the factory labor costs for the month of January.
(b)
Prepare the entry to assign factory labor to production.

(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Account Titles and Explanation

Debit

Credit

(a)

pixel.gif

pixel.gif

pixel.gif


pixel.gif

pixel.gif

pixel.gif


pixel.gif

pixel.gif

pixel.gif


pixel.gif

pixel.gif

pixel.gif

(b)

pixel.gif

pixel.gif

pixel.gif


pixel.gif

pixel.gif

pixel.gif


pixel.gif

pixel.gif

pixel.gif

Reference no: EM13580851

Questions Cloud

Riven corporation has a single product whose selling price : riven corporation has a single product whose selling price is 14. at an expected sales level of 1470000 the companys
The bill in congress urges the fasb to develop a rule that : the following two items appeared on the internet concerning the gaap requirement to expense stock options.washington
After numerous campus interviews alex sanchi a student at : after numerous campus interviews alex sanchi a student at bc received two office interview invitations from the orlando
A description of the adjustment and why it is necessary : 1 prepaid expenses 2 unearned revenues 3 accrued expenses and a 4 accrued revenues. select one specific adjusting entry
The gross earnings of the factory workers for vargas : the gross earnings of the factory workers for vargas company during the month of january are 66100. the employers
Sprint nextel is one of the largest digital wireless : break-even analysis i would like to also know how each step was obtained.sprint nextel is one of the largest digital
Calculate the net present value of cash flows using total : ben ryatt professor of languages at a southern university owns a small office building adjacent to the university
Do you agree with the sales manager that the company should : midwest mills has a plant that can mill wheat grain into a cracked wheat cereal and then further mill the cracked wheat
Prepare a quantitative comparison of the traditional and : requirement 3prepare a quantitative comparison of the traditional and activity-based cost assignments. do not round

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd