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Question: Prepare the journal entries for the following: Whe

Question: Prepare the journal entries for the following: Whe

Question: Prepare the journal entries for the following: When raw materials are received, Give an example When raw materials are sent to the factory floor, Give an exampleWhen a job is completed, what happen to the cost, Give an exampleOverhead expenses ( salary) paid by cheque $ 5000 Utilities (Indirect expenses) paid in cash $ 10000 f) Salaries totaling $5,000 are accrued; 35% of these costs are direct labor, 40% are indirect labor and 25% are overhead expense. Prepare the journal entry.g) Overhead costs are allocated to work in process using an allocation rate of 150% of direct labor costs and 300% of overhead expenses. Prepare the journal entry. (Give different examples- examples should not be same) 2-Riyadh Electricity Company manufactures chandeliers . Following is information for next year’s operations, based on an estimated volume of 20,000 units: 4 marks Expected revenues $1,000,000Unit costs:Direct materials $ 6.25Direct labor 15.75Variable overhead 5.50Fixed manufacturing overhead 2.50Total $30.00Other fixed costs:Administration, marketing, etc. $225,000Income tax rate 30%a. What is the breakeven point for next year?b. What is next year’s projected after-tax income?c. Suppose the managers set a target after-tax income of $100,000. Estimate the number of units that must be sold.3-Ahmed has budgeted next year’s sales at 8,000 units. (2 marks )Compute Ahmed’s degree of operating leverage. If P = 1,000, V = 400, F = 850,000.

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