PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN: 9781337619783
Author: BIEG
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Question
Chapter 6, Problem 2QD
To determine
List few costs that are incurred by a company as a part of ‘total package’ of salary cost.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Which of the following is not a period cost?
Group of answer choices
Sales commissions.
Public relations costs.
The salary of a company's chief financial officer (CFO).
Legal costs.
Wages of assembly-line workers.
The salary paid to the president of a company would be classified on the income statement as a(n):
Multiple Choice
direct labor cost.
O selling expense.
administrative expense.
manufacturing overhead cost.
Below is a table showing the various costs incurred by various companies. In each column, indicate the proper classification of these costs. Write NA if not applicable.
Cost
Manufacturing/Product (M) or Non-Manufacturing/Period (NM)
Direct Materials (DM), Direct Labor (DL) or Factory Overhead (FOH)
General and Administrative (GA) or Marketing and Selling (MS)
m. Commissions paid to sales personnel
n. Salaries of the executive staff
o. Car leases for sales agents
p. Electricity to run machineries in a lumber yard
q. Food for company banquet
r. Sugar in a bakeshop
Chapter 6 Solutions
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Ch. 6 - The totals from the payroll register of Olt...Ch. 6 - Olt Companys gross payroll for the week of January...Ch. 6 - _____ 1. 1. Employees earnings record A. Expense...Ch. 6 - Prob. 1QRCh. 6 - For what reason are distribution columns sometimes...Ch. 6 - Prob. 3QRCh. 6 - Prob. 4QRCh. 6 - Prob. 5QRCh. 6 - Prob. 6QRCh. 6 - Prob. 7QR
Ch. 6 - What portions of an employees take-home pay are...Ch. 6 - Prob. 9QRCh. 6 - Prob. 10QRCh. 6 - Prob. 11QRCh. 6 - What must the employer do with unclaimed...Ch. 6 - What special accounts must usually be opened in...Ch. 6 - Prob. 14QRCh. 6 - Prob. 15QRCh. 6 - Prob. 16QRCh. 6 - What accounts are debited and credited when an...Ch. 6 - Prob. 18QRCh. 6 - Prob. 19QRCh. 6 - Prob. 20QRCh. 6 - Prob. 1QDCh. 6 - Prob. 2QDCh. 6 - Prob. 3QDCh. 6 - Prob. 1PACh. 6 - Prob. 2PACh. 6 - a. Cal Ruther, an employer, is subject to FICA...Ch. 6 - The employees of Donnelly Music Company earn total...Ch. 6 - Vulcra, Inc., has a semimonthly payroll of 67,000...Ch. 6 - Prob. 6PACh. 6 - Prob. 7PACh. 6 - The employees of Pelter Company earn wages of...Ch. 6 - The following information pertains to a weekly...Ch. 6 - Prob. 10PACh. 6 - On December 31, 20--, Karmansky Company needed to...Ch. 6 - Kelsey Gunn is the only employee of Arsenault...Ch. 6 - Prob. 13PACh. 6 - At the end of April, Hernandez Company had a...Ch. 6 - Prob. 15PACh. 6 - In the Illustrative Case in this chapter, payroll...Ch. 6 - Prob. 1PBCh. 6 - Prob. 2PBCh. 6 - Prob. 3PBCh. 6 - The employees of Carson Bakery Company earn total...Ch. 6 - Purnell, Inc., has a semimonthly payroll of 53,900...Ch. 6 - Adams, Inc., pays its employees weekly wages in...Ch. 6 - Prob. 7PBCh. 6 - The employees of Portonegra Company earn wages of...Ch. 6 - The following information pertains to a weekly...Ch. 6 - Prob. 10PBCh. 6 - Prob. 11PBCh. 6 - Prob. 12PBCh. 6 - Prob. 13PBCh. 6 - At the end of June, Morton Company had a balance...Ch. 6 - Prob. 15PBCh. 6 - In the Illustrative Case in this chapter, payroll...Ch. 6 - Frank Flynn is the payroll manager for Powlus...
Knowledge Booster
Similar questions
- Walsh & Coggins, a professional accounting firm, collects cost information about the services they provide to their clients. Describe the types of cost data they would collect and explain the importance of analyzing this cost data.arrow_forwardThe accompanying figures depict a number of cost behavior patterns that might be found in a company's cost structure. The vertical axis on each graph represents total cost, and the horizontal axis on each graph represents level of activity (volume). For each of the given situations, identify the graph that illustrates the cost pattern involved. Any graph may be used more than once. (Adapted originally from the CPA exam; also found in R.H. Garrison and E.W. Noreen, Managerial Acco11111ing, 9th edition, Irwin, 2009.)(a) Electricity bill-a flat-rate fixed charge plus a variable cost after a certainnumber of kilowatt-hours are used.(b) City water bill, which is computed as follows:First 1,000,000 gallons $1,000 flat, or lessNext 10,000 gallons $0.003 per gallon usedNext 10,000 gallons $0.006 per gallon usedNext 10,000 gallons $0.009 per gallon used(c) Depreciation of equipment, where the amount is computed…arrow_forwardAssume you are the department B manager for Marley's Manufacturing. Marley's operates under a cost-based transfer structure. Assume you receive the majority of your raw materials from department A, which sells only to department B (they have no outside sales). After calculating the operating income in dollars and operating income in percentage, analyze the following financial information to determine costs that may need further investigation.arrow_forward
- Manufacturing overhead costs would include:a. Marketing costs related to selling the product.b. The salary of the production line supervisor.c. The chief executive officer’s salary.d. Research and development costs for a new product.arrow_forwardRegarding the development of the standard cost for each unit of input, which of these statements are true? Multiple select question. The human resources department will be involved in establishing standard labor rates. The production and purchasing departments will provide data for estimating the various overhead costs. The purchasing agent will provide input for raw material costs. The human resources department will not be involved.arrow_forwardClassic manufacturing costing system uses a three-part classification of direct materials, direct manufacturing labor, and manufacturing overhead costs. The following items (in millions) pertain to Classic Corporation. Requirement Prepare an income statement and a supporting schedule of cost of goods manufactured. Begin by preparing the supporting schedule of cost of goods manufactured (in millions). Start with the direct materials and direct labor costs, then indirect manufacturing costs, and complete the schedule by calculating cost of goods manufactured. For Specific Date Work-in-process inventory, January 1, 2020 $12 Direct materials inventory, December 31, 2020 8 Finished-goods inventory, December 31, 2020 11 Accounts payable, December 31, 2020 20 Accounts receivable, January 1, 2020 59 Work-in-process inventory, December 31, 2020 1 Finished-goods inventory, January 1, 2020 46 Accounts receivable, December 31,…arrow_forward
- Listed as follows are various costs found in businesses. Classify each cost as a fixed or variable cost, and as a product and/or period cost. a. Wages of administrative staff b. Shipping costs on merchandise sold C. Wages of workers assembling computers d. Cost of lease on factory equipment e. Insurance on factory f. Direct materials used in production of lamps g. Supervisor salary, factory h. Advertising costs_ i. Property taxes, factory j. Health insurance cost for company executives k. Rent on factoryarrow_forwarda) Compute the firm’s predetermined overhead rate, which is based on direct-labour hours. b) Calculate the over-applied or under-applied overhead for 2021. c) Prepare a journal entry to close out the Manufacturing Overhead Account into Cost of Goods Sold. d) Activity based costing (ABC) is an alternative method of allocating overheads. How is ABC useful to managers?arrow_forwardConcepts and terminology From the choices presented in parentheses, choose the appropriate term for completing each of the following sentences: The salaries of salespeople are normally considered a (period, product) cost. The plant manager’s salary would be considered (direct, indirect) to the product. Long-term plans are called (strategic, operational) plans.arrow_forward
- Why should an employee have some understanding of costing if they are not in the accounting department? Explain how the method of costing used will impact the company with: (A) the quoting of customer jobs and (B) gross margin/profit on the Income statementarrow_forwardKLP provides consulting services and uses a job-order system to accumulate the cost of client projects. Traceable costs are charged directly to individual clients; in contrast, other costs incurred by KLP, but not identifiable with specific clients, are charged to jobs by using a predetermined overhead application rate. Clients are billed for directly chargeable costs, overhead, and a markup. KLP anticipates the following costs for the upcoming year: KLP's partners desire to make a $480,000 profit for the firm and plan to add a percentage markup on total cost to achieve that figure.On May 14, KLP completed work on a project for Lawson Manufacturing. The following costs were incurred: professional staff salaries, $68,000; administrative support staff, $8,900; travel, $10,500; and other operating costs, $2,600.REQUIRED:(a) Determine KLP's total traceable costs for the upcoming year and the firm's total anticipated overhead.(b) Calculate the predetermined overhead rate. The…arrow_forwardAssume you are the department B manager for Marley's Manufacturing. Marley's operates under a cost-based transfer structure. Assume you receive the majority of your raw materials from department A, which sells only to department B (they have no outside sales). After calculating the operating income in dollars and operating income in percentage, analyze the following financial information to determine costs that may need further investigation. The cost that needs further investigation is cost allocated from corporate. In Department A the percentage of cost allocated based on sales is 10% where as in Department B this is 29.41% based on sales. This needs further investigation beacuse of this cost there is operating loss in Department B. Income Statement Month ending August 31, 2019 Dept. A % Dept. B % Sales $22,000 100 $51,000 100 Cost of Goods Sold 10,560 48 26,520 52 Gross profit $11,440 52 $24,480 48 Utility expenses 1,000 4.55…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax College
Principles of Cost AccountingAccountingISBN:9781305087408Author:Edward J. Vanderbeck, Maria R. MitchellPublisher:Cengage Learning
Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
Principles of Cost Accounting
Accounting
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Cengage Learning
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub