Demonstrate which the journal entry would include

Assignment Help Managerial Accounting
Reference no: EM132758872

Problem 1: When the actual direct labor hours are less than the standard direct labor hours allowed for the actual output of the period, the journal entry would include

a. Credit to wages payable, credit to labor efficiency variance
b. Credit to work in process, credit to labor efficiency variance
c. credit to wages payable, debit to labor efficiency variance
d. credit to work in process, debit to labor efficiency variance

Reference no: EM132758872

Questions Cloud

Evaluate how many units sold to achieve a target profit : Evaluate how many units must be sold to achieve a target profit of $5,000? Oslo Company prepared the following contribution format income statement
Impact on the financial system : The role of credit rating agencies and their impact on the financial system
Wacc based on the current capital structure : XYZ limited has the following capital structure equity share (200,000 share) Rs. 4,000,000
What is the total rate of return on the bond : Consider a bond paying a coupon rate of 10% per year semiannually when the market interest rate is only 4% per half-year. The bond has three years until maturit
Demonstrate which the journal entry would include : When the actual direct labor hours are less than the standard direct labor hours allowed for the actual output of the period, the journal entry would include
Explain the concept of efficient frontier : Explain the concept of Efficient Frontier. CML
What projects will be undertaken if there is no lending : If they do borrow from and lend to each other, what projects will be undertaken and what will the interest rates be?
Calculate the cost of the property on initial recognition : Calculate the cost of the property on initial recognition and explain why some of the items mentioned above are not capitalized and explain how they should be
How should the change of inventory valuation basis be : In applying the principle of comparability, how should the change of inventory valuation basis be accounted for? The change should be disclosed.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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