During the month, Barrera Manufacturing incurred (not paid) $ 50,000 indirect labor costs in Department 1, $ 21,000 direct labor costs in Department 2, and $ 3,500 of indirect labor costs.
Which of the following is not part of the summary journal entry to record these transactions? Process costing is used.

A) debit to Work-in- Process Inventory for $74,500
B) debit to Manufacturing Overhead for $3500
O) debit to Work- in- Process Inventory-Department 1 for $50,000
D) credit to Wages Payable for $74,500

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.

After much consideration, you have chosen cancun over ft. lauderdale as your spring break destination this year. however, spring break is still months away, and you may reverse this decision. which of the following events would prompt you to reverse this decision? a. the marginal cost of going to cancun decreases.b. the marginal cost of going to ft. lauderdale decreases.c. the marginal benefit of going to cancun increases.d. the marginal benefit of going to ft. lauderdale decreases.

Using the smith's bbq report, the cost of wine for next week will increase by 2% from the current week. if all other cost of sales stays constant, what will be the approximate total cost of sales for next week?