Overhead rate = 249600/62400 = $4 per machine hour
a) Journal entries
Date | account and explanation | debit | credit |
Finished goods (8400+5000+2900*4) | 25000 | ||
Work in process | 25000 | ||
(To record completion of job 102) |
b) Journal entries
Date | account and explanation | debit | credit |
Cash/Account receivable | 50600 | ||
Sales revenue | 50600 | ||
(To record sales) | |||
Cost of goods sold (10900+17000+4000) | 31900 | ||
Finished goods | 31900 | ||
(To record cost of good sold) |
c) Applied overhead = 4800*4 = 19200; actual overhead = 14200
Over applied overhead = 19200-14200 = $5000
Date | account and explanation | debit | credit |
Manufacturing overhead | 5000 | ||
Cost of goods sold | 5000 | ||
(To record over applied) |
Tyler Tooling Company uses a job order cost system with overhead applied to products on the...
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $219,450 and total machine hours at 62,700. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labo cost, and machine hours for each job: Direct materials used Direct labor Machine hours Job 101 $ 11,700...
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $234,840 and total machine hours at 61,800. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Job 101 Job 102 Job 103 Total Direct materials used $...
Tyler Tooling Company uses a job order cost system with overhead
applied to products on the basis of machine hours. For the upcoming
year, the company estimated its total manufacturing overhead cost
at $252,400 and total machine hours at 63,100. During the first
month of operations, the company worked on three jobs and recorded
the following actual direct materials cost, direct labor cost, and
machine hours for each job: Job 101 Job 102 Job 103 Total Direct
materials used $...
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $205,920 and total machine hours at 62,400. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Job 101 Job 102 Job 103 Total Direct materials used $10,800...
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $213,520 and total machine hours at 62,800. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Job 101 Job 102 Job 103 Total Direct materials used $...
Chapter 2. Job Order Costing
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the total machine hours at 63,000. During the first month of operations, the company worked on three jobs and recorded the following a r, the company estimated its total manufacturing overhead cost at $245,700 and irect materials cost, direct labor cost, and machine hours for each job Job 101 Job 102 S 7,100 S...
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $239,020 and total machine hours at 62,900. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Job 101 Job 102 Job 103 Total Direct materials used $...
5. Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $201,600 and total machine hours at 63,000. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Job 101 Job 102 Job 103 Total Direct materials used...
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $228,660 and total machine hours at 61,800. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Job 101 Job 102 Job 103 Total Direct materials used $...
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $217,700 and total machine hours at 62,200. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job Job 101 Job 102 Job 103 $ 5,600 $ 4,700 Total...