What balance should remain in the factory payroll account

Assignment Help Accounting Basics
Reference no: EM131538511

Question: 1. Assume that a company produces a single product by processing it first through a single production department. Direct labor costs flow through what accounts in this company's process cost system?

2. After all labor costs for a period are allocated, what balance should remain in the Factory Payroll account?

3. Explain why equivalent units of production for both direct labor and overhead can be the same as, and why they can be different from, equivalent units for direct materials.

Reference no: EM131538511

Questions Cloud

Describe implications for practice and future research : Describe strategies to take if outcomes do not provide positive results. Describe implications for practice and future research
Identify the main focus in process costing : Are the journal entries that match cost flows to product flows in process costing primarily the same or much different than those in job order costing? Explain.
Compare the assembly line in china to that in san francisco : Consider the two categories of products that Timbuk2 makes and sells.Axe their competitive priorities different for the new laptop bags sourced in China?
What is the most common type of sweat gland : What is the most common type of sweat gland? What kind of gland is it? (endocrine or endocrine) What tissue type is it composed of?
What balance should remain in the factory payroll account : Assume that a company produces a single product by processing it first through a single production department. Direct labor costs flow through what accounts.
Successful contestant in history of the television jeopardy : As the most successful contestant in the history of the television Jeopardy, Ken Jennings won more show than $2.5 million.
Lactate for optimal performance : Explain the benefits of lactate for optimal performance in the sprinter phase in football
Defined the nursing practices of your selected issue : Provide insights that concisely address the following: The court decisions that have defined the nursing practices of your selected issue
Determining the genetically modified organisms : Recombinant DNA technology is used to make genetically modified organisms (GMOs). No doubt you are aware of the current debate about GMO food.

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