Question 7 6 out of 6 points Complete the following journal entry regarding this payroll...(DO NOT USE the "$") Use account names as they appear on the General Ledgers but only the first letter of each word should be capitalized [a] 1‚418.87 [b] [c] Specified Answer for: a Payroll Cash Specified Answer for: b Cash Specified Answer for: c 1‚418.87 Correct Answers
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1. Conversion cost is the sum of direct labor cost and direct materials cost. F 2. Depreciation on office equipment would be included in product costs. F 3. When the predetermined overhead rate is based on direct labor-hours‚ the amount of overhead applied to a job is proportional to the estimated amount of direct labor-hours for the job. F 4. Indirect materials are charged to specific jobs. F 5. When a job is completed‚ the goods are transferred from the production department to the finished goods
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this change the researcher will design a proposed system for Robles Bakery that would therefore answer the needs or the establishment in their method of giving in their employee’s salary. The purpose of this is to make their way of computing the payroll easier. Background of the Study Robles Bakery was established on June 21‚ 1985‚ by Mr. Mario Larcia at 50 M. Paulino Street San Pablo City Laguna. Robles Bakery was came from the owner’s surname‚ Mr. Ruperto Robles. It aims to produce and sell
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impact on the profession of accounting. With the rapid growth of technology today‚ there is no doubt that computer will become a common asset in all profession. The program also allows the monthly payroll schedule to be calculated accurately. Just by having all employees’ info like name‚ working hours‚ wages etc to enter in the database. Therefore‚ payroll can be done with the guide of the program. The system is good in for its specialty in the fields of accounting. It is easy to use‚ effective
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Case Study 7.18 A discussion on the inherent risks that arise from the audit of Dreamland ltd in regards to several claims made by Ms Monica Fasola. As the change in the payroll system is a technological change in IT (Simnett‚ R.‚ pg 311)‚ there is an increase in inherent risk within several areas. The change in IT systems may lead to errors that may occur through the conversion of systems‚ the information from the old system may not be compatible with the new system regardless of how similar the
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EXERCISES E1-1 The variances for kitchen wages and utilities were favorable for September‚ whereas the variances for food and supplies were unfavorable. On a year-to-date basis‚ the only expense that did not have the same pattern as September was utilities which had a $120 F variance for the month‚ but an $850 U year-to-date variance. E1-2 No‚ the performance report should not be prepared just once a year. It should be furnished to managers at regular intervals‚ in this case monthly‚ on a
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impact on the profession of accounting. With the rapid growth of technology today‚ there is no doubt that computer will become a common asset in all profession. 2. The program also allows the monthly payroll schedule to be calculated accurately. Just by having all employees’ info like name‚ working hours‚ wages etc to enter in the database. Therefore‚ payroll can be done with the guide of the program. The system is good in for its specialty in the fields of accounting. It is easy to use‚ effective
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Cost Accounting: A Managerial Emphasis‚ 14th Edition Horngren‚ Datar and Rajan Check Figures for Exercises and Problems Chapter 2. An Introduction to Cost Terms and Purposes 2-16 1. S‚ $1.1856 D‚ $1.0213 R‚ $0.6400 2-17 1. yeast D/V‚ flour D/V‚ pkg D or I/V‚ dep ov I/F or V‚ dep mix I/F or V‚ rent I/F‚ ins I/F‚ fact util I/F and V‚ fin labor D/V or F‚ mix mgr I/F‚ matl hand I/F or V‚ cust I/F‚ guard I/F‚ mach I/F or V‚ mach maint I/F or V‚ maint sup I/V‚ clean sup I/F. 2. Dep. M&M‚ MDM‚ MH‚ Mac.
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services at a low price. The current payroll system being of Citylane Grocery Store‚ Rosario branch is still being manually done. The employees time in and out with the use of Bundy clock and time cards. Then the accounting personnel will manually input the time in/out data of a certain employee to a Microsoft Excel Spreadsheet. In addition‚ viewing‚ adding‚ and editing employee information are also being manually done on MS Excel. Furthermore‚ the payroll computations are also being done by hired
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GLOBAL RECIPROCAL COLLEGES GRC Bldg Rizal Avenue cor 9th Ave. Caloocan City Payroll System In Partial Fulfillment of the requirements For the Subject ITCS 211 Submitted by: Lu‚ Lyn‚ L. Sanchez‚ Frecis Balingit‚ Jembert Ballester‚ Gerlie Amandog‚ Jinine II- Galatians Submitted to: Mrs. Tupaz I.T. Professor Introduction As computer technology changes at such fast phase‚ many businesses
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