At December 31, balances in Manufacturing Overhead are Shimeca Company-debit $2,070, Garcia Company-credit $919.
Prepare the adjusting entry for each company at December 31, assuming the adjustment is made to cost of goods sold. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Journal entry
Date | Account title and explanation | Debit | Credit |
Shimeca Company | |||
Dec 31 | Cost of goods sold | 2070 | |
Manufacturing overhead | 2070 | ||
Garcia Company | |||
Dec 31 | Manufacturing overhead | 919 | |
Cost of goods sold | 919 | ||
At December 31, balances in Manufacturing Overhead are Shimeca Company-debit $2,070
At December 31, balances in Manufacturing Overhead are Shimeca Company--debit $1,850. Garcia Company-credit $1,043. Prepare the adjusting entry for each company at December 31, assuming the adjustment is made to cost of goods sold.
Weygandt, Financial and Managerial, 3e Assignment Gradebook ORION INTRODUCTION TO ACCOUNTING (ACCT 2001/2 Downloadable eTextbook nt CALCULATOR FULL SCREEN BACK Brief Exercise 15-10 At December 31, balances in Manufacturing Overhead are Waterway Company-debit $1,490, Crane Company-credit $1,020 Prepare the adjusting entry for each company at December 31, assuming the adjustment is made to cost of goods sold. (Credit account titles are automatically indented when amount i entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Waterway Company...
please help fill in blue blanks At December 31, balanus in Manufacturing overhead are Shin company - debit $2,50 Grau company - credit & 997 te prepare the adjusting entry for each company at Dec. 31 assuming the adjustment is made to cost of goods sold - Fill in blue banks- Date Account Titles Debit and Explanation Shin company Dec. 31 credit Grace company Dec. 31 Jl 11
Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $300,000 for the year, and machine usage is estimated at 125,000 hours. For the year, $322,000 of overhead costs are incurred and 130,000 hours are used. Manufacturing overhead rate $ per machine hour Manufacturing Overhead $ repare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold. (Credit account titles are automatically...
Vaughn Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $283,725 for the year, and machine usage is estimated at 126,100 hours. For the year, $303,850 of overhead costs are incurred and 130,200 hours are used. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.) Manufacturing overhead rate $ per machine hour SHOW LIST OF ACCOUNTS What is the amount of under- or...
pel Progress At December 31, 2021, Sheridan Company made an accrued expense adjusting entry of $1,870 for salaries. On January 4 2022, it paid salaries of $3,140: $1,870 for December salaries and $1,270 for January salaries. port Your answer is correct. Prepare the December 31 adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account...
Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $347,325 for the year, and machine usage is estimated at 126,300 hours. For the year, $375,125 of overhead costs are incurred and 132,700 hours are used. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, 1.25.) Manufacturing overhead rate per machine hour SHOW LIST OF ACCOUNTS What is the amount of under or overapplied overhead...
Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $326,772 for the year, and machine usage is estimated at 125 200 hours For the year, $363,320 of overhead costs are incurred and 132,000 hours are used. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, eg. 1.52.) Manufacturing overhead rates per machine hour e Textbook and Media List of Accounts What is the amount...
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Kingbird Company determined its ending inventory at cost and at LCNRV at December 31, 2020, December 31, 2021, and December 31, 2022, as shown below. Cost NRV 12/31/20 $707,100 $707,100 12/31/21 807,500 741,400 12/31/22 850,600 777,300 (a) Prepare the journal entries required at December 31, 2021, and at December 31, 2022, assuming that a perpetual inventory system and the cost-of-goods-sold method of adjusting to LCNRV is used. (Credit account titles are automatically indented when amount is entered. Do not indent...