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Business, 28.08.2019 19:10 theoriginalstal4234
Abc company has the following costs for the year: direct materials used $100,000 direct labor incurred 50,000 manufacturing overhead incurred 20,000 selling expenses 40,000 administrative expenses 15,000 what is the amount of conversion costs for the year?
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Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.
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