Austin company pays daily wages of $645 (monday - friday). paydays are every other friday. prepare the monday, january 31 adjusting entry, assuming that the previous payday was friday, january 21. b. prepare the journal entry to record the austin company’s payroll on friday, february 4. c. annual depreciation expense on the company’s fixed assets is $39,600. prepare the adjusting entry to recognize depreciation for the month of january. d. the company’s office supplies account shows a debit balance of $3,755. a count of office supplies on hand on january 31 shows $635 worth of supplies on hand. prepare the january 31 adjusting entry for office supplies.

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

12. to produce a textured purée, you would use a/an a. food processor. b. wide-mesh sieve. c. immersion blender d. food mill.

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above