Use the Following Information to Calculate Cash Paid for Wages

question 108

Multiple Choice

Use the following information to calculate cash paid for wages and salaries: $$\begin{array} { | l | r } \text { Salaries expense } & \$ 168,000 \\\hline \text { Salaries payable, January 1 } & 6,400 \\\hline \text { Salaries payable, December 31 } & 10,600\end{array}$$

• A) $172,200.
• B) $157,400.
• C) $168,000.
• D) $163,800.
• E) $174,400.

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Definitions:

Multiply

The mathematical operation of repeated addition of a number by itself a specified number of times.

Simplify

The process of reducing an expression to its simplest form.

Average Cost

The total cost of production divided by the number of goods produced.

Setup Cost

The initial expense required to create a new product or establish a new process, including costs for equipment, facilities, and labor.