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Marguerite Inc..expects to sell 20,000 pool cues for $20.00 each.Direct materials costs are $2.00,direct manufacturing labour is $12.00,and manufacturing overhead is $0.80 per pool cue.Each pool cue requires 0.5 kilograms (kg) of material which is all added at the start of production.The units in work-in-process beginning and ending inventory were half complete as to direct labour and manufacturing overhead costs;the units in beginning inventory are completed before new units are started..Each pool cue requires one hour of direct labour,and manufacturing overhead is allocated based on direct labour hours.The following inventory levels are expected to apply to 2016:
-How many pool cues need to be produced in 2016?
Adjusting Journal Entries
Entries made in the accounting records to correct any discrepancies or to make non-cash adjustments.
Wages Expense
The total cost incurred by an employer for paying the hourly earnings of its employees.
Wages Payable
The total amount of wages earned by employees that the company has not yet paid.
End-Of-Period Spreadsheet
An End-Of-Period Spreadsheet is a document used in accounting to compile balances from journals and ledgers, facilitating adjustments and preparing financial statements.
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