The Following Totals for the Month of April Were Taken

question 58

Multiple Choice

The following totals for the month of April were taken from the payroll records of Metz Company. Salaries $30,000
FICA taxes withheld 2,295
Income taxes withheld 6,600
Medical insurance deductions 1,200
Federal unemployment taxes 240
State unemployment taxes 1,500
The journal entry to record the monthly payroll on April 30 would include a

• A) debit to Salaries and Wages Expense for $30,000.
• B) credit to Salaries and Wages Payable for $30,000.
• C) debit to Salaries and Wages Payable for $30,000.
• D) debit to Salaries and Wages Expense for $19,905.

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Definitions:

Resource Consumption

The amount of resources used by an organization or process, often analyzed for efficiency improvements or environmental impact.

Idle Capacity

The portion of a company's resources or production capacity that is not being used in production but still incurs costs.

Activity-Based Costing

A costing methodology that assigns overhead and indirect costs to related products and services based on the activities they require.

Resource Consumption

The act of using resources, such as materials, time, and energy, in the process of producing goods and services.