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The gross earnings of the factory workers for Vargas Company during the month of January are $66,000. The employer's payroll taxes for the factory payroll are 8,000. The fringe benefits to be paid by the employer on this payroll are $6,000. Of the total accumulated cost of factory labor, 85% is related to direct labor and 15% is attributable to indirect labor:
Instructions:
a) Prepare the entry to record the factory labor cost for the month of Januaryb) Prepare the entry to assign factory labor to production.
Profit Analysis and Cost Volume or CVP Analysis CVP Analysis checks the relationship between profit, activity level and the cost. CVP Analysis assists in a broad range of p
Conceptualizing Job Costing Start to develop an understanding of job costing by thinking about the simple illustration. Jack Castle owns an electrical constricting company, Cas
conclusion
You work for a firm of accountants as a junior accounts assistant and part of your role is to prepare clients' ledgers accounts from incomplete records. A client of the firm you
Assumptions of CVP This chapter has given information on how to apply CVP for the business analysis. Most of this analysis is keyed to the model of how profitability is impacte
format of manufacturing,tradind,p/l a/c
is sale of salvage from capital project recorded as gain/loss or applied back to project costs
Principles of Marginal Costing The principles of marginal costing are as given: 1. Period fixed costs are similar, for any volume of sales and production provided suc
The San Carlos Company is an electronics business with eight product lines. Income data for one of the products (XT-107) for June 2011 are as follows: Revenues, 200,000 units at av
M aterials mix variance : It can be described as that portion of direct material usage variance which is the variation between the actual quantities of ingredients used in a mi
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