How much is Work in Process-Direct Labor? NN Company operates on a 6-day week, with time and one-quarter for all hours over eightduring the regular days. The time cards for the week ending November 30 showed:Wed88No.Fri8Name001 JakeTibsRamonTeddyArtReneAgaMon8TuesThurs88Sat8Rate/hrP120808002867400388870004888984707080800058880069840078844 An analysis of the job time tickets and payroll records showed:Thurs8No. Job No.001 Supervisor002 701702003Tues87WedFriSatMon88886621747017028488850047024470386278600570347370425006704476444705704240078434470556Previous earnings in June (November 1- 24)No.001 19,210.0000200300400500600716,204.0012,814.0012,706.0012,528.0016,102.0014,538.00TC

Payroll The process of payroll to calculate the total labor hours which are included in the time…

Answered: How much is Work in Process-Direct…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter18: The Management Of Accounts Receivable And Inventories

Section: Chapter Questions

Problem 9P

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Similar questions

Metlock, Inc. employs a 5-day workweek and a September 30 year-end. Normal weekly wages amount to $40320. If September 30 ends on a Wednesday, what is the appropriate journal entry at fiscal year-end? Dr Salaries and Wages Expense $24192 Cr Salaries and Wages Payable $24192 Dr Salaries and Wages Expense $40320 Cr Salaries andWages Payable $40320 Dr Salaries and Wages Expense $24192 Cr Cash $24192 Dr Salaries and Expense $8064 Cr Salaries and Wages Payable $8064
Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May, and June if 60% of sales are collected in the month of sale, 30% are collected the month after the sale, and 10% are collected the second month after the sale?
TERM OF A NOTE Calculate total time in days for the following notes. (Assume there are 28 days in February.)
Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment schedule for January using this data: in December through February, it purchased $22,000, $25,000, and $23,000 respectively.
Fitbands estimated sales are: What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?
The following table gives the average monthly balances for one bank customer for April through June. Calculate the weighted average balance for the three-month period. Note that each average monthly balance must be weighted by the number of days in that month. Round to the nearest cent. April-$435.21 May- $377.93 June- $261.79
A company's telephone bill consists of two elements. One is a quarterly rental charge, payable in advance; the other is a quarterly charge for calls made, payable in arrears. At 1 April 20X9, the previous bill dated 1 March 20X9 had included line rental of $90. Estimated call charges during March 20X9 were $80. During the following 12 months, bills totalling $2,145 were received on 1 June, 1 September, 1 December 20X9 and 1 March 20Y0, each containing rental of $90 as well as call charges. Estimated call charges for March 20Y0 were $120. What is the amount to be charged to the statement of profit or loss for the year ended 31 March 20Y0? A $2,185 B $2,205 C $2,155 D $2,215 Please provide detailed answer with proper explanation that why and what is done .. thankyou
ABC, Incorporated, has a beginning receivables balance on January 1st of $620. Sales for January through April are $380, $410, $490 and $510, respectively. The accounts receivable period is 60 days. How much did the firm collect in the month of March? Assume 365 days per year.
Fitbands’ estimated sales are: Oct. $131,989 Nov. 195,710 Dec. 249,288 Jan 124,318 Feb. 124,276 Mar. 124,361 What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale? Round your answers to two decimal places. Ending Balance January February March
The university satellite office operates five days per week with a daily payroll of $5,000. Employees are paid every Saturday for the workweek just completed (Monday through Friday). The last day of the month is Wednesday, October 31. What is the effect of the correct adjustment at October 31? A. Decrease Wages Expense and increase Wages Payable by $15,000 B. Increases Wages Payable and increases Wages Expense by $25,000 C. Increase Wages Payable and decreases Cash by $10,000 D. Increases Wages Expense and increases Wages Payable by $15,000
The following company information is available: Days sales outstanding 27 Days sales in inventory 19 Days accounts payable outstanding 29 How long is the company's operating cycle? Group of answer choices 56 days 8 days 75 days 46 days
Assuming that the average customer ticket is $6, determine: Number of customers per day the first month they are open (January) __________ Number of customers per day the 6th month they are open (June) __________ Number of customers per day the 12th month they are open (December)________

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