Kingston manufacturing has the solve this question Kingston Manufacturing has the following labor costs:Factory Gross wagesFactory Net wages$390,000320,000Employer Payroll Taxes Payable 90,000The entry to record the cost of factory labor and the associated payroll taxexpense will include a debit to Factory Labor for:A. $340,000.B. $440,000.C. $370,000.D. $480,000.

Step 1: Define Manufacturing OverheadManufacturing overhead is an indirect production cost related…

Answered: Kingston Manufacturing has the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Kline Manufacturing has the following labor costs. Factory - Gross wages = $195,000 Factory - Net wages = $160,000 Employer Payroll Taxes Payable = $25,000 The entry to record the cost of factory labor and the associated payroll tax expense will include a debit to Factory Labor for what amount?
unland Company has the following labor costs: Factory—Gross wages $540000 Factory—Net wages 440000 Employer Payroll Taxes Payable 54000 The amount recorded as an increase to Factory Labor will be $540000. $594000. $486000. $494000.
Swifty Corporation has the following labor costs: Factory-Gross wages Factory-Net wages Employer Payroll Taxes Payable $580000 O $638000. O $580000. $528000. $522000. 470000 58000 The entry to record the cost of factory labor and the associated payroll tax expense will include a debit to Factory Labor for
Sundland Company has the following labor costs: Factory-Gross wages 540000, Factory-Net wages 440000, Employer Payrol Taxes Payable 54000. The entry to record the cost of factory labor and the associated payroll tax expense will include a debit to Factory Labor for?
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K Rios Corporation reports costs for the year as follows: Direct Materials Used Wages to Line Workers Office Rent Indirect Materials Used How much is the total product costs for the year? A. $605,000 OB. $1,155,000 OC. $550,000 OD. $1,199,500 $430,000 120,000 44,500 605,000
Jamie Hopen, CPA, prepares tax returns. The production costs and the number of tax returns prepared for the month of September are as follows: Direct materials $ 200 CPA staff salaries 4,000 Overhead 1,800 Total $6,000 Number of tax returns 300What is the unit cost per tax return? a.$20.00 b.$0.67 c.$3.33 d.$15.00
Harrison , Inc : Advertising Costs President's Salary Tax Payments Factory Repair and Maintenance Direct Materials Used $10,600; 230000; 12, 500 920 Direct Labor Administrative Salaries 27, 500; 36, 22000 How much were Harrison's product costs ? Select one : a . $64,420 Ob . $86,420 . $65,620 Od . $339,520
Assume RIOO 000 direct material was issued to the company. Direct labourpaid amounted to R30 000, Factory supervisor salary R4 000, Electricity forthe factory R3 000 and rent for the factory building was R20 000 . Supposethe Work - in - progress in the beginning of the year was R9 000 and at theend of the year was R6 000 . What is the value of the Finished goods that istransferred to the Sales department?A. R154 OOOB. R160 OOOC. R103 OOOD. R157 OOO
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Subject: Cost management & accounting QUESTION – 13.The payroll records of the Weber Company show payments for labor of Rs. 400,000, of which Rs. 80,000 is indirect labor. Materials requisitions show Rs. 300,000 for materials used, of which Rs. 280,000 represents direct materials. Other manufacturing expenses total Rs. 124,000. Finished goods on hand at the end of the period are stated at cost, Rs. 176,000, of which Rs. 40,000 is direct materials cost. Factory overhead is allocated on the basis of direct labor cost.REQUIRED:The amount of direct labor and the amount of factory overhead in Finished Goods

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