The Balance in the Wages Payable Account Increased from $24,400

question 11

Multiple Choice

The balance in the Wages Payable account increased from $24,400 at the beginning of the month to $30,000 at the end of the month. Wages accrued during the month totaled $122,000.

• A) Wages paid during the month totaled $116,400.
• B) Wages paid during the month totaled $129,600.
• C) Wages expense for the month totaled $116,400.
• D)Wages expense for the month totaled $152,000.

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Definitions:

Markup Percentage

The percentage added to the cost of goods to achieve a selling price, representing profit margin.

Required Return

The minimum profit or yield that investors expect to receive on an investment, considering the associated risks.

Target Costing

Target costing involves setting a planned cost for a product and then designing the product’s development cycle to meet this cost to maintain profitability.

Desired Return

The target profit or return a company aims to achieve on investment or sales.