Give the journal entry for direct and indirect labor costs incurred. Explain how this transaction affects the
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
Date Accounts and Explanation Debit Credit WorkInProces...View the full answer
Answered By
Muhammad Salman Alvi
Well, I am a student of Electrical Engineeing from Information Technology University of Punjab. Just getting into my final year. I have always been good at doing Mathematics, Physics, hardware and technical subjects. Teaching profession requires a alot of responsibilities and challenges.
My teaching experience started as an home tutor a year ago. When I started teaching mathematics and physic subjects to an O Level student. He was about 14 years old. His name was Ibrahim and I used to teach him for about 2 hours daily. Teaching him required a lot of patience but I had to be polite with him. I used to give him a 5 min break after 1 hour session. He was quite weak in basic maths and calculation. He used to do quite a lot of mistakes in his homework which I gave him weekly. So I decided to teach him basics from scratch. He used to say that he got the concept even if he didn't. So I had to ask him again and again. I worked on his basics for a month and after that I started taking a weekly test sesions. After few months he started to improve gradually. Now after teaching him for about a year I can proudly say that he has improved alot. The most important thing was he managed to communicate all the difficullties he was facing. He was quite capable and patient. I had a sincere desire to help him reach to its full potential. So I managed to do that. We had a very good honest relationship of a student and a teacher. I loved teaching him as a tutor. Now having an experience of one year teaching I can read students quite well. I look forward to work as an online tutor who could help students in solving their all sort of difficulties, problems and queries.
4.90+
29+ Reviews
43+ Question Solved
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Question Posted:
Students also viewed these Managerial Accounting questions
-
Give the journal entry for raw materials purchased on account. Explain how this transaction affects the accounting equation.
-
Give the journal entry for the completion of a job. How is the accounting equation affected?
-
Explain the difference between direct and indirect labor and give examples of each for a manufacturer such as Boeing Company.
-
Informative Speech Critique Evaluating Rhetorical Choices You may just number the questions and add a paragraph or two to answer - 1. Did you find the speaker credible? Why or why not? 2. Did the...
-
What kind of subshell is being filled in Groups IA and IIA? In Groups IIIA to VIIIA? In the transition elements? In the lanthanides and actinides?
-
Statoll, the national oil company of Norway, has acquired debt capital in a variety of foreign currencies (see Exhibit 7.11). After borrowing the capital, however, Statoil swapped its currency...
-
Identify the four major social media and describe how brand managers integrate them into marketing actions.
-
As the bookkeeper of Panji?s Plowing, you have been asked to complete the entire accounting cycle for Panji from the following information. Adjustment Data 1. Snow supplies on hand, $300. 2. Rent...
-
On December 7, 2022, the NFL sells $2,000,000 worth of tickets for cash for the Superbowl to be played on February 12, 2023. The full amount sold appears where
-
A metal ball is dropped into a tall cylinder of oil. The ball initially accelerates but soon reaches a terminal velocity. a. By considering the forces on the metal ball bearing, explain why it first...
-
Explain the terms accumulate, assign, allocate, and adjust as they apply to job order costing.
-
Why does the sale of a completed job require two journal entries? What are they?
-
What products are formed from acid-catalyzed hydration of racemic ()-4-methyl- 1-hexenc? What can you say about the relative amounts of the products? Is the product mixture optically active?
-
Turn this information into an excel sheets with the excel formulas being shown P12.2 (LO 1, 2) (Liability Entries and Adjustments) Listed below are selected transactions of Schultz Department Store...
-
1. Consider an undirected random graph on the set of four vertices {A, B, C, D} such that each of the 4 2 = 6 potential edges exists with probability 0.2, independently of the presence/absence of any...
-
Basic Net Present Value Analysis Jonathan Butler, process engineer, knows that the acceptance of a new process design will depend on its economic feasibility. The new process is designed to improve...
-
Determine the support reactions at the smooth collar A and the normal reaction at the roller support B. 800 N 600 N B 0.8 m 0.4 m 0.4 m 0.8 m
-
A plant hopes to cool a steam line by sending it through a throttling valve to expand it to atmospheric pressure. The steam enters the valve at 550C and 250 bar. The expansion in the valve happens so...
-
For the coming year, a British subsidiary of an American company is expected to incur an after-tax loss of 50 million and its depreciation charge is estimated at 10 million. The exchange rate is...
-
A Bloomberg Businessweek subscriber study asked, In the past 12 months, when traveling for business, what type of airline ticket did you purchase most often? A second question asked if the type of...
-
Consider the payoff depicted in the following figure, depending on ST , the price of an underlying stock share at time T. Find a trading strategy that replicates this payoff. You may use...
-
Return to S163, the Heinz Ltd. investment in Kuzawa Corporation bonds. Journalize the following transactions on Heinz Ltd.s books, along with an explanation: 1. Purchase of the bond investment on...
-
Heinz Ltd. owns vast amounts of corporate bonds. Suppose the company buys $1,000,000 of Kuzawa Corporation bonds on January 2, 2020, at a price of 97. The Kuzawa bonds pay cash interest at the annual...
-
How would you measure the net income of a parent company with three subsidiaries? Assume that two subsidiaries are wholly owned (100 percent) and that the parent owns 60 percent of the third...
-
thumbs up if correct A stock paying no dividends is priced at $154. Over the next 3-months you expect the stock torpeither be up 10% or down 10%. The risk-free rate is 1% per annum compounded...
-
Question 17 2 pts Activities between affiliated entities, such as a company and its management, must be disclosed in the financial statements of a corporation as O significant relationships O segment...
-
Marchetti Company, a U.S.-based importer of wines and spirits, placed an order with a French supplier for 1,000 cases of wine at a price of 200 euros per case. The total purchase price is 200,000...
Study smarter with the SolutionInn App