Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

solve this Sr # Q.1 Q.2 Q.3 Question A particular material is purchased for Rs.3 per unit. Monthly usage is 1500 unit ordering cost are

solve this

image text in transcribed

Sr # Q.1 Q.2 Q.3 Question A particular material is purchased for Rs.3 per unit. Monthly usage is 1500 unit ordering cost are 15 per order and annual carrying cost is 40% Required: Compute the economic order quantity For the first payroll in November, the records on Nans Company show direct labor Rs. 20,000; indirect factory labor Rs. 4000; sales salaries Rs. 5000 and administrative office salaries Rs. 3600. The FICA tax rate is 7.5% and UCI tax 2.5%. State and federal income taxes withheld are Rs. 3000. And the city wage tax is 1% on employee gross earning and it is paid by the employees. Required: Prepare the entry to record payroll liability, distribute the payroll cost and employer payroll taxes, treated as indirect cost. The state UCI tax rate is 3%. And FUTA tax rate is 0.8% and FICA tax rate is 7.5%. The following data of December 31, 19B trail balance of cricket company showed: Prepare cost of goods manufactured and cost of goods sold on the basis of given data -$14,500,500 --2,400,000 Sales Purchase-- Transportation in------ ----$ 32000 Direct Labor----$ 3,204,000 Sales salaries------ Inventories Material Work in Process Finished Goods -$200,000 Sales returns-- Factory overhead------ Advertising expense--- Delivery expense------ Marketing expense DECEMBER 31, 198 $ 567400 136800 196000 $25,200 -$ 1,885,600 S 1,55,000 --$65000 -$ 100000 DECEMBER 31, 19A $620000 129800 176000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting

Authors: William K. Carter

14th edition

759338094, 978-0759338098

More Books

Students also viewed these Accounting questions