Answer:
Dr Salaries expense $7,552
Cr Accrued salaries $7,552
Being entries to record salaries payable as at year end
Explanation:
When an expense is incurred but yet to be paid by an organization, the entries required are
Dr Expense (p/l)
Cr Accrued expense (B/s)
when payment is made
Dr Accrued expense (B/s)
Cr Cash account
Given that Zoey Bella Company has a payroll of $9,440 for a five-day workweek and the year ends on a Thursday. As such, the company as at 31 December has incurred salaries for 4 days. This has to be accrued for but first to calculate the amount
= 4/5 * $9,440
= $7,552
Hence adjusting entry required on December 31, assuming the year ends on a Thursday
Dr Salaries expense $7,552
Cr Accrued salaries $7,552
Being entries to record salaries payable as at year end
For the month of September, Florida, Inc., incurs a direct materials cost of $12,000 for 7,500 gallons of strawberry lemonade produced in its Mixing Department. It also incurs conversion costs of $6,000 with 80% completed. If the conversion cost per equivalent unit was $1.15 per gallon in August, what is the difference in the conversion cost per equivalent unit between the two months
Answer:
Florida, Inc.
The difference in the conversion cost per equivalent unit between the two months is:
= $0.15.
Explanation:
a) Data and Calculations:
Direct materials cost = $12,000
Production units (gallons of strawberry lemonade) = 7,500
Conversion costs = $6,000
Degree of completion of conversion = 80%
Equivalent units of conversion = 6,000 (7,500 * 80%)
Therefore, the conversion cost per equivalent unit = $1.00 ($6,000/6,000)
The difference in the conversion cost per equivalent unit between the two months is $0.15 ($1.15 - $1.00)
The Law Firm prepays for advertising in the local newspaper. On January 1, the law firm paid for months of advertising. How much advertising expense should Law Firm record for the two months ending February 28 under the
a. cash basis
b. accrual basis?
Answer and Explanation:
The computation of the advertising expense that should be record for the two month under following basis is
a. For cash basis
It should be recorded at $2,000
b. For accrual basis
= $2,000 ×2 ÷5
= $800
In this way, it should be determined
And, the same should be relevant
The journal entry to record direct labor used in process costing is a(n): Multiple choice question. increase in assets and an increase in equity. decrease in assets and a decrease in liabilities. decrease in assets and a decrease in equity. increase in assets and an increase in liabilities.
Answer:
Increase In Assets and an increase in liabilities
Explanation:
DIRECT LABOUR can be seen or defined as the labour a person or an individual put in the production of goods and services in which they are been paid for as wages.
Therefore The journal entry to record DIRECT LABOR USED IN PROCESS COSTING is a(n):
INCREASE IN ASSETS and AN INCREASE IN LIABILITIES reason been that in direct labour used in process costing an increase in Asset will as well lead to Increase in Liabilities.
Other things the same , as the price level rises, the real value of money a. falls and the exchange rate rises. b. and the exchange rate fall. c. rises and the exchange rate falls. d. and the exchange rate rise.
Answer:
falls and the exchange rate fall.
Explanation:
Increase in general price level is referred to an inflation.
Inflation is a persistent rise in the general price levels
Types of inflation
1. demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise
2. cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect
When price level rises, the real value of money decreases
For example, imagine that price of an apple is $5. If you have $100, you can by 20 apples. If price level increases by 100%, $100 would only buy 10 apples. thus, the real value of money decreases
Also exchange rate falls. exchange rate is the rate at which one currency is exchanged for another currency
If price level increases, domestic currency would become cheaper. As a result, exchange rate falls
A 4-year project has an annual operating cash flow of $42,000. At the beginning of the project, $6,000 in net working capital was required, which will be recovered at the end of the project. The firm also spent $21,900 on equipment to start the project. This equipment will have a book value of $5,460 at the end of the project, but can be sold for $6,920. The tax rate is 21 percent. What is the Year 4 cash flow?
Answer:
Total cash flow $54,613
Explanation:
The computation of the year 4 cash flow is given below:
Selling price of equipment $6,920
Book value at year 4 end $5,460
Capital gain $1,460
Tax on capital gain at 21% $306.6
So, net cash flow from the sale of equipment
= $6,920 - $307
= $6,613
Now year 4 cash flow is
Annual operating cash flow $42,000
Release of working capital $6,000
Net cash flow form sale of equipment $6,613
Total cash flow $54,613
2018
Feb. 1 Loaned $12,000 cash to Candace Smith on a one-year, 6% note.
Apr. 6 Sold goods to Park Pro, receiving a 90-day, 12% note for $6,000. Ignore Cost of Goods Sold.
Apr. 30 Made a single entry to accrue interest revenue on both notes.
Required:
Journalize the entires.
Answer:
Journal Entries
2018
Feb. 1 Debit 6% Note Receivable (Candace Smith) $12,000
Credit Cash $12,000
To record receipt of a one-year, 6% note.
Apr. 6 Debit 12% Note Receivable (Park Pro) $6,000
Credit Sales Revenue $6,000
To record receiving a 90-day, 12% note.
Apr. 30 Debit Interest Receivable $230
Credit Interest Revenue $230
To accrue interest revenue for both notes.
Explanation:
a) Data and Analysis:
2018
Feb. 1 6% Note Receivable (Candace Smith) $12,000 Cash $12,000
a one-year, 6% note.
Apr. 6 12% Note Receivable (Park Pro) $6,000 Sales Revenue $6,000, receiving a 90-day, 12% note
Apr. 30 Interest Receivable $230 Interest Revenue $230
($12,000 * 6% * 3/12) + ($6,000 * 12% * 25/360)
= $180 + $50
= $230
Al owned a family high-deductible health policy as part of his MSA for the entire year. What is his maximum permitted contribution to the MSA in 2020 if his deductible is $5,000?
Utica Company has offered to supply Kingston's entire annual requirements of the part for $53 each. If Kingston buys the part from Utica instead of making it, Kingston would have no other use for the facilities and 60 percent of the fixed manufacturing overhead would continue. In deciding whether to make or buy the part, the total relevant costs to make the part internally are
Answer:
$480,000
Explanation:
Calculation to determine what total relevant costs to make the part internally are
First step is to calculate Relevant cost per unit:
Relevant cost per unit:
Direct materials $6
Direct labor $24
Variable manufacturing overhead $12
Fixed manufacturing overhead ($15 × 0.40) $6
Relevant manufacturing cost $48
Now let determine the Total relevant costs to make the part internally
Total relevant costs to take the part internally=($48 × 10,000)
Total relevant costs to make the part internally = $480,000
Therefore total relevant costs to make the part internally are $480,000
Henry has a $10,000 car insurance policy with a $400 per claim deductible. Henry is involved in an accident, and his car sustains $7,000 worth of damage. How
much will Henry's insurance company pay?
Answer:
The answer is $6,600
Explanation:
I know this because i got it right when i answered it
If the U.S. dollar depreciates relative to foreign currency, what is likely to be the result for the U.S. company that has branches abroad
Answer:
it takes more dollars to buy a foreign currency
Starbucks' efforts to expand its distribution beyond traditional outlets, including other restaurant chains, hotels, airlines, universities, and offices, has not been as successful as predicted.
a. Yes
b. No
Answer: False
Explanation:
Starbucks efforts to expand have yielded fruit as it is now more accessible to its ever increasing customer base which is as a result of the brand's recognition and reputation.
They are now more successful as a result and this is proven by the fact that Starbucks revenue has been rising since 2013 from around $14 billion to $26.5 billion in 2019.
Select all the statements that are true about Secondary Markets only.
Answer:
The secondary market is the market in which securities are traded. This market no longer accumulates new financial resources for the issuer, but only reallocates resources among subsequent investors.
As a resale mechanism, it allows investors to freely buy and sell securities. In the absence of a secondary market or its weak organization, the subsequent resale of securities would be impossible or difficult, which would discourage investors from buying all or part of the securities. As a result, society would be left on the losing side, since many, especially the newest, undertakings would not receive the necessary financial support.
Cash Acme Company Balance Sheet As of January 5, 2021 (amounts in thousands) 13,700 Accounts Payable 3,200 Debt 5,100 Other Liabilities 15,400 Total Liabilities 2,000 Accounts Receivable 3,600 Inventory 900 6,500 Property Plant & Equipment Other Assets 800 Paid-In Capital Retained Earnings Total Equity 7,200 24,500 31,700 38,200 Total Assets 38,200 Total Liabilities & Equity
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2021
1. Receive payment of $12,000 owed by a customer
2. Purchase equipment for $45,000 in cash
3. Issue $85,000 in stock
4. Borrow $67,000 from a bank
What is the final amount in Accounts Payable?
Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars.
Please specify your answer in the same units as the balance sheet (i.e., enter the number from your updated balance sheet).
Answer:
Acme Company
1. Acme Company
Balance Sheet
As of January 6, 2021 (amounts in thousands)
Cash 13,819
Accounts Receivable 3,188
Inventory 5,100
Property Plant & Equipment 15,445
Other Assets 800
Total Assets 38,352
Liabilities and Equity:
Accounts Payable 2,000
Bank Payable 67
Debt 3,600
Other Liabilities 900
Total Liabilities 6,567
Equity:
Paid-In Capital 7,285
Retained Earnings 24,500
Total Equity 31,785
Total Liabilities & Equity 38,352
2. The final amount in Accounts Payable remains $2,000,000, but the Bank Payable increased from zero to $67,000.
Explanation:
a) Data and Calculations:
Acme Company
Balance Sheet
As of January 5, 2021 (amounts in thousands)
Cash 13,700
Accounts Receivable 3,200
Inventory 5,100
Property Plant & Equipment 15,400
Other Assets 800
Total Assets 38,200
Liabilities and Equity:
Accounts Payable 2,000
Debt 3,600
Other Liabilities 900
Total Liabilities 6,500
Equity:
Paid-In Capital 7,200
Retained Earnings 24,500
Total Equity 31,700
Total Liabilities & Equity 38,200
Transaction Analysis:
1. Cash $12 Accounts receivable $12
2. Equipment $45 Cash $45
3. Cash $85 Paid-in Capital $85
4. Cash $67 Bank payable $67
Cash
Beginning balance 13,700
Accounts receivable 12
2. Equipment (45)
3. Paid-in Capital 85
4. Bank payable 67
Ending balance 13,819
The following is TRUE about Inventory: A. Firms increase inventory because there is an opportunity cost to holding inventory B. Firms increase inventory because more inventory sitting for longer periods of time present more opportunities for damage, errors, rework, theft, and obsolescence C. Firms increase inventory because more inventory means more movement of materials D. Firms increase inventory because there is a risk of significant and unpredictable fluctuations in downstream demand E. Firms increase inventory because the more we spend on inventory, the more we need to spend on other inventory-related expenditures
Answer:
I don't know how it is possible
Ruston Company Income Statement January 1 to December 31, 2017 (amounts in thousands) 7,800 1,560 6,240 780 700 500 4,260 70 4,190 1,676 2,514 Revenue Cost of Goods Sold (COGS) nl Gross Income Sales, General, & Administrative Expenses (SG&A) Depreciation Expense Other Expenses Earnings Before Interest & Taxes (EBIT) Interest Pre-Tax Income Income Taxes Net Income Between January 1 and December 31, 2017:
1. Accounts Receivable increase by $600,000
2. Accounts Payable increase by $300,000
3. Gross Property, Plant, & Equipment increase by $8,300,000
4. Long Term Debt increases by $700,000 Assume no other changes What is the Net Cash Flow?
Answer:
The Net Cash Flow is -$4,686,000.
Explanation:
Note: The data in this question are merged. The complete question with the sorted data are therefore provided before answering the question. See the attached pdf file for the complete question with the sorted data.
The explanation of the answers is now provided as follows:
Net Cash Flow can be determined by preparing the cash flow statement as follows:
Ruston company
Cash Flow Statement
For the Year Ended December 31, 2017
Details $’000 $’000
Cash Flows from Operating Activity
Net Income 2,514
Adjustment to net income
Depreciation expense 700
Increase in accounts receivable (600)
Increase in accounts payable 300
Net Cash Flows from Operating Activity 2,914
Cash Flows from Investing Activity
Increase in Gross Property, Plant, & Eq. (8,300)
Net Cash Flows from Investing Activity (8,300)
Cash Flows from Financing Activity
Increase in Long Term Debt 700
Net Cash Flows from Financing Activity 700
Net Cash Flow (4,686)
Therefore, the Net Cash Flow is -$4,686,000.
Which of the following is an essential element of a valid real estate contract?
Duress
Legal purpose
Misrepresentation
Mutual mistake
Answer:
Legal purpose
Explanation:
The contract is approved when there is an agreement and agreement should be enforced i.e.
Agreement + enforceability = contract
Now the element of the contract that become the contract to be valid is the legal purpose that means the contract that should be made should be legal in the court point of view i.e. feasible
Therefore the second option is correct
Q.23 :-Your Boss says- ' I want the job done, I do not have time to listen to your
stories. This shows his:
1. Closed mindset
2. Lack of empathy
3.Sympathetic attitude
4.Emotional attitude
5.Extravagant nature
Answer:
closed mindset
Explanation:
because he just want to finish his work only
Wildhorse Co. sells merchandise on account for $2800 to Morton Company with credit terms of 2/8, n/30. Morton Company returns $800 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Wildhorse Co. make upon receipt of the check
Answer: Cash $1,960
Sales returns and allowances $800
Sales discount $40
Accounts receivable $2,800
Explanation:
Sales = $2,800
Sales returns = $800
Discount rate = 2%
The final amount due will be:
= Sales- Sales returns
= $2,800 - $800
= $2,000
Sales discount = 2% × $2,000 = $40
Cash received will be:
Final amount due - Sales discount
= $2,000 - $40
= $1,960
The journal entry will be:
Debit Cash $1,960
Debit Sales returns and allowances $800
Debit Sales discount $40
Credit Accounts receivable $2,800
Job order versus Process Costing Which of the following industries would typically use job order costing, and which would typically use process costing? Steel manufacturing Business consulting Web designer Computer chip manufacturing Candy making Designer clothes manufacturing
Answer:
Job order versus Process Costing
Industries using job order costing:
Business consulting
Web designer
Designer clothes manufacturing
Industries using process costing:
Steel manufacturing
Computer chip manufacturing
Candy making
Explanation:
In job order costing, the manufacturer tracks its prime costs to individual products or jobs. This means that the costs of each job can be computed separately because costs are traced to each job. Under process costing, the prime costs are tracked to the department or process or batch, and not to individual products or jobs.
Quality Motor Company is an auto repair shop that uses standards to control its labor time and labor cost. The standard labor cost for a motor tune-up is given below: Standard Hours Standard Rate Standard Cost Motor tune-up 2.50 $38.00 $95.00 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 58 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate variance $ 450 F Labor spending variance $ 500 U Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly pay rate for tune-ups last week.
Answer and Explanation:
The computation is shown below:
1
Labor efficiency variance = Labor spending variance+Labor rate variance
= $450 + $500
= $950U
Now as we know that
Labor efficiency variance = SR × (AH-SH)
950 = $38 × (AH - 58 × 2.50)
950 = $38 × (AH - 145)
25 = AH - 145
AH = 145 + 25
= 170
Actual labor hours = 170 hours
2
Labor rate variance = AH × (SR-AR)
450 = 170 × ($38 - AR)
2.65 = 38 - AR
AR = 38 - 2.65
= $35.35
On January 1, 2021, Red Inc. issued stock options for 250,000 shares to a division manager. The options have an estimated fair value of $7 each. To provide additional incentive for managerial achievement, the options are not exercisable unless divisional revenue increases by 6% in three years. Red initially estimates that it is probable the goal will be achieved. Ignoring taxes, what is compensation expense for 2021
Answer: $583,333
Explanation:
Compensation expense for 2021 = Total compensation / Vesting period
Total compensation:
Assuming the goal given is probable, the total compensation is:
= Number of shares * fair value
= 250,000 * 7
= $1,750,000
Vesting period = number of years goal is to be in effect = 3 years
Compensation expense 2021 = 1,750,000 / 3
= $583,333
. A Real estate broker has a fiduciary responsibility to her client and her responsibilities include financial references, orders and examine reports, and must follow ADA title lll. This broker is most likely working for the client as:
A) An affiliate
B) An escrow officer
C) A property manager
D) A designated broker
Answer:
D) A designated broker
Explanation:
In the case when the responsibilities involved the financial references, orders and viewing the reports also at the same time we need to follow ADA title III so this means that the broker should be working for the client as the designated broker
So according to the given scenario, the option d is right
And, the same is to be considered
You have been newly employed in a very reputable organisation in one of the following industries: agriculture, banking, “oil and gas”, telecommunication, owing to your background in quality management you have been tasked to develop a Quality Manual to provide a framework for the operationalization of a Quality Management System (QMS). With reference to your choice of industry (selected from above), prepare a Quality Manual that captures the seven auditable clauses of the ISO 9001.
i. Context of the organization
(perform a stakeholder analysis of the organization)
ii. Leadership
(develop a quality policy, quality statement, mission and vision)
iii. Planning
(based on the quality policy, develop 5 quality objectives)
iv. Support
(design a hierarchy of QMS documentation required by the ISO standard and how each level contributes to the QMS, denoting whether they or time-dependent or time-independent by way of their classification)
v. Operation
(develop Standard Operating Procedures (SOPs) for two core processes).
vi. Performance Evaluation
(how will you evaluate one of the core processes above for performance)
vii. Improvement
(identify one quality program for continual improvement of one core process identified above)
Answer:
We have to answer all the questions.
Outback Corp. recorded sales of $1,300,000 in 2010, in addition the company's accounts receivable balance grew from $120,000 at the beginning of 2010 to $165,000 at the end of 2010. How much cash did Outback collect from customers in 2010
Answer:
$1,255,000
Explanation:
The increase in accounts receivable is the portion of the current year sales revenue that has not been received in cash, hence, the cash collected from customers in the year 2010 is simply the sales adjusted for the impact of accounts receivable as shown below:
cash collection=sales revenue+beginning accounts receivable-ending accounts receivable
sales revenue=$1,300,000
beginning accounts receivable=$120,000
closing accounts receivable=$165,000
cash collection=$1,300,000+$120,000-$165,000
cash collection=$1,255,000
Rodriguez Company pays $363,285 for real estate with land, land improvements, and a building. Land is appraised at $198,000; land improvements are appraised at $66,000; and a building is appraised at $176,000. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.
Answer:
1.Land $163,478
Land Improvement $54,493
Building $145,314
2.Dr Land $163,478
Dr r Land Improvement $54,493
Dr Building $145,314
Cr Cash $363,285
Explanation:
1. Calculation to Allocate the total cost among the three assets
First step is to Add up all expenditure costs Total Expenditure costs =$198,000+$66,000+$176,000
Total Expenditure costs =$440,000
Second step is to divide each expenditure up by the total amount
Land=($198,000/$440,000= 0.45)
Land improvement=($66,000/$440,000= 0.15)
Building=($176,000/$440,000= 0.40)
Now let Allocate the total cost among the three assets
Land=0.45* $363,285
Land = $163,478
Land improvement=0.15*$363,285
Land Improvement=$54,493
Building=0.40*$363,285
Building=$145,314
Total $363,285
($163,478+$54,493+$145,314)
Therefore the total allocation cost among the three assets is:
Land $163,478
Land Improvement $54,493
Building $145,314
2. Preparation of the journal entry to record the purchase
Dr Land $163,478
Dr r Land Improvement $54,493
Dr Building $145,314
Cr Cash $363,285
(To record purchase)
Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labor
Answer:
a. Paying higher wages can reduce a firm's training costs. b. Higher wages attract a more competent pool of workers. d. Paying higher wages helps workers to be healthier in some developing countries.Explanation:
Paying higher than average wages will help a company retain staff who would appreciate being paid so much. There will therefore be less workers leaving the company which means that there would be no need to train new staff.
Higher wages also attracts more competent workers because competitive wages attract better talent who would want to work for a company that adequately compensates them for their higher skillset.
Developing countries tend to have low minimum or rather low equilibrium wage rates in order to get companies to employ more people. This usually does not reflect the economic situation in he country so paying above this rate will ensure that the employees are better taken care of which would leave them healthier.
Coomb's Fashions forecasts sales of $125,000 for the quarter ended December 31. Its gross profit rate is 20% of sales, and its September 30 inventory is $32,500. If the December 31 inventory is targeted at $41,500, budgeted purchases for this quarter should be:
Answer:
Total purchase= $109,000
Explanation:
To calculate the budgeted purchases, we need to use the following formula:
Purchases= production + desired ending inventory - beginning inventory
Budgeted purchase:
Production= 125,000*0.8= 100,000
Desired ending inventory= 41,500
Beginning inventory= (32,500)
Total purchase= $109,000
Refer to the demand schedule below: Price ($) Quantity demanded 80 0 70 50 60 100 50 150 40 200 30 250 20 300 10 350 0 400 a. Suppose the price increases from $10 to $20. Demand is (Click to select) and total revenue (Click to select) . b. Suppose the price increases from $30 to $40. Demand is (Click to select) and total revenue (Click to select) . c. Suppose the price increases from $50 to $60. Demand is (Click to select) and total revenue (Click to select) .
Answer:
a. inelastic
increases
b. inelastic
increases
c. elastic
decreases
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes. An increase in price would lead to decrease in total revenue
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one. An increase in price would increase total revenue
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases
Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.
Elasticity when price increases from $10 to $20 : -0.143 / 1 = -0.143
Percentage change in quantity demanded = (300 / 350) - 1 = -0.143
Percentage change in price = (20 /10) - 1 = 1
Demand is inelastic
Elasticity when price increases from $30 to $40 : -0.2 / 0.33 = 0.6
Percentage change in quantity demanded = (200 / 250) - 1 = -0.2
Percentage change in price = (40 /30) - 1 = 0.33
Demand is inelastic
Elasticity when price increases from $50 to $60 : -0.33 / 0.2 = 1.65
Percentage change in quantity demanded = (100 / 150) - 1 = -0.33
Percentage change in price = (60 /50) - 1 = 0.2
Demand is elastic
1. A beverage company is having trouble with the production of the dye in their drinks. The color of their drink mix is supposed to be a pale green color, but they often get different results. For each unwanted result, choose the most plausible explanation to help the company improve the formula. (1pts) The color of the drink is too pale after adding the dye to the drink because
Answer: • not enough dye was added to the drink.
Explanation:
The color of the drink is too pale after adding the dye to the drink because (not enough dye was added to the drink)
It should be noted that the reason why the color of the drink is too pale is due to the fact that not enough due was added to the drink.
It should be noted that as more dye is added to the drink, the color intensifies and the reason for the paleness of the colour is because less dye was added.
The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Work in Process Credit Credit Debit Beginning Balance Debit Beginning Balance 9,000 22,200 5,000 5,200 4,100 6,200 8,500 8,300 Finished Goods Manufacturing Overhead Credit Debit Credit Debit Beginning Balance 20,400 8,300 2,200 22,200 2,800 3,500 3,200 Cost of Goods Sold Debit Wages & Salaries Payable Credit 20,400 Beginning Balance Debit Credit 20,400 2,500 12,000
The direct labor cost was:
a. $20,400
b. $13.100
Answer:
$8,500
Explanation:
The computation of the direct labor cost is given below
The raw material issued should be
= 6,200 + 2,800
= 9,000
The manufacturing overhead applied is 8,300
So, here the amount should be from both work in process and manufacturing overhead
Therefore the remaining amount i.e. $8,500 should be the direct labor cost
