The merchandise inventory account of a company shows a balance of $70,000 but a physical count of inventory shows $67,000 which of the following entries is required to record the shrinkage? (assume a perpetual inventory system.)
a) a $67,000 credit to merchandise inventory
b) a $70,000 debit to cost of goods sold
c) a $7,000 credit to cost of goods sold
d) a $7,000 credit to merchandise inventory

Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6

How many beauty salons in the us offer hair coloring services?

Read the sentence.the team raises most of their money at the bake sale.the error in this sentence is a