The payroll register of Seaside Architecture Company indicates $970 of social security and $257 of Medicare tax withheld on total salaries of $16,500 for the period. Federal withholding for the period totaled $4,235.

Required:
Prepare the journal entry for the period’s payroll. Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTS

Seaside Architecture Company

General Ledger

ASSETS

110 Cash

111 Accounts Receivable

112 Interest Receivable

113 Notes Receivable

115 Inventory

116 Supplies

118 Prepaid Insurance

120 Land

123 Building

124 Accumulated Depreciation-Building

125 Office Equipment

126 Accumulated Depreciation-Office Equipment

LIABILITIES

210 Accounts Payable

213 Interest Payable

214 Notes Payable

221 Salaries Payable

222 Social Security Tax Payable

223 Medicare Tax Payable

224 Employees Federal Income Tax Payable

225 State Withholding Tax Payable

226 Federal Unemployment Tax Payable

227 State Unemployment Tax Payable

228 State Disability Insurance

231 Medical Insurance Payable

232 Retirement Savings Deductions Payable

233 Union Dues Payable

234 Vacation Pay Payable

235 Unfunded Pension Liability

241 Product Warranty Payable

242 EPA Fines Payable

243 Litigation Claims Payable

EQUITY

310 Common Stock

311 Retained Earnings

312 Dividends

313 Income Summary

REVENUE

410 Sales

610 Interest Revenue

EXPENSES

510 Cost of Merchandise Sold

520 Salaries Expense

525 Delivery Expense

526 Repairs Expense

531 Rent Expense

533 Insurance Expense

534 Supplies Expense

535 Cash Short and Over

536 Product Warranty Expense

541 Vacation Pay Expense

542 Pension Expense

543 Payroll Tax Expense

544 Federal Income Tax Expense

545 State Income Tax Expense

561 Depreciation Expense-Building

562 Depreciation Expense-Office Equipment

570 Damage Awards and Fines

590 Miscellaneous Expense

710 Interest Expense

Prepare the journal entry for the period’s payroll on December 31. Refer to the Chart of Accounts for exact wording of account titles.

Following is a list of various costs incurred in producing replacement automobile parts. with respect to the production and sale of these auto parts, classify each cost as either variable costs, fixed costs, or mixed costs. 1. oil used in manufacturing equipment 2. plastic 3. property taxes, $165,000 per year on factory building and equipment 4. salary of plant manager 5. cost of labor for hourly workers 6. packaging 7. factory cleaning costs, $6,000 per month 8. metal 9. rent on warehouse, $10,000 per month plus $25 per square foot of storage used 10. property insurance premiums, $3,600 per month plus $0.01 for each dollar of property over $1,200,000 11. straight-line depreciation on the production equipment 12. hourly wages of machine operators 13. electricity costs, $0.20 per kilowatt-hour 14. computer chip (purchased from a vendor) 15. pension cost, $1.00 per employee hour on the job

On april 1, 2017, jiro nozomi created a new travel agency, adventure travel. the following transactions occurred during the company’s first month. april 1 nozomi invested $30,000 cash and computer equipment worth $20,000 in the company in exchange for common stock.2 the company rented furnished office space by paying $1,800 cash for the first month's (april) rent.3 the company purchased $1,000 of office supplies for cash.10 the company paid $2,400 cash for the premium on a 12-month insurance policy. coverage begins on april 11.14 the company paid $1,600 cash for two weeks' salaries earned by employees.24 the company collected $8,000 cash on commissions from airlines on tickets obtained for customers.28 the company paid $1,600 cash for two weeks' salaries earned by employees.29 the company paid $350 cash for minor repairs to the company's computer.30 the company paid $750 cash for this month's telephone bill.30 the company paid $1,500 cash in dividends. the company's chart of accounts follows: 101 cash 405 commissions earned106 accounts receivable 612 depreciation expense—computer equip.124 office supplies 622 salaries expense128 prepaid insurance 637 insurance expense167 computer equipment 640 rent expense168 accumulated depreciation—computer equip. 650 office supplies expense209 salaries payable 684 repairs expense307 common stock 688 telephone expense318 retained earnings 901 income summary319 dividends use the following information: two-thirds (or $133) of one month’s insurance coverage has expired.at the end of the month, $600 of office supplies are still available.this month’s depreciation on the computer equipment is $500.employees earned $420 of unpaid and unrecorded salaries as of month-end.the company earned $1,750 of commissions that are not yet billed at month-end. required: 1. & 2. prepare journal entries to record the transactions for april and post them to the ledger accounts in requirement 6b. the company records prepaid and unearned items in balance sheet accounts.3. using account balances from requirement 6b, prepare an unadjusted trial balance as of april 30.4. journalize and post the adjusting entries for the month and prepare the adjusted trial balance.5a. prepare the income statement for the month of april 30, 2017.5b. prepare the statement of retained earnings for the month of april 30, 2017.5c. prepare the balance sheet at april 30, 2017.6a. prepare journal entries to close the temporary accounts and then post to requirement 6b.6b. post the journal entries to the ledger.7. prepare a post-closing trial balance.

Which are the best examples of costs that should be considered when creating a project budget?