Homework Answers
The below two options are to be selected:
close it to cost of goods sold.
allocate it to work in process, finished goods and cost of goods sold.
explanation:
when overhead is under applied, the adjusting entry would debit cost of goods sold or work in process, finished goods and cost of goods sold, the credit will be made to manufacturing overhead.
when the overhead is over applied, the adjusting entry would debit manufacturing overhead, credit cost of goods sold or work in process, finished goods and cost of goods sold, as the case may be.
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please help me this ework A Saved Exercise 15-13 Adjusting factory overhead LO P4 The following information is avai...
please help me this
ework A Saved Exercise 15-13 Adjusting factory overhead LO P4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 $52,000 12,000 72,000 $ May 31 70,000 24,900 53,689 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received...
how do i calculate? The following information is available for Lock-Tite Company, which produces special-order security...
how do i calculate?
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $46,500 10,900 66,500 59,000 22,700 42,600 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost...
how do i calculate? The following information is available for Lock-Tite Company, which produces special-order security...
how do i calculate?
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $46,500 10,900 66,500 59,000 22,700 42,600 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost...
T Mgr. Ac... Saved me Insert Draw Design Layout References Mailings Review View Help .....2 ...3.....
T Mgr. Ac... Saved me Insert Draw Design Layout References Mailings Review View Help .....2 ...3.. 1.1.6.7. My Act 2121 -Opter 3 w Somer 20201 3) Dipaola Corporation has provided the following data conceming last month's operations Purchases of raw materials $ 26,000 Indirect materials included in manufacturing overhead $ 6,000 Direct labor cost $ 58,000 Manufacturing overhead applied to Work in Process $ 87,000 Overapplied overhead $ 6,000 Beginning Ending Rematerials entory $ 12,000 $ 18,000 Work in processor...
please help me to correct the question. tks The following information is available for Lock-Tite Company,...
please help me to correct the question. tks
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 $ $46,000 10,800 66,000 May 31 58,000 22,500 41,600 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based...
ter 15 Saved Help Exercise 15-13 Adjusting factory overhead LO P4 The following information is available...
ter 15 Saved Help Exercise 15-13 Adjusting factory overhead LO P4 The following information is available for Lock-Tite Company, which produces special-order security products and uses ajob order costing system. April 301 May 311 Inventories Raw materials Work in process Finished goods $43,000 52,000 21,300 35,600 10,200 63, 000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 210,000 345,000 Indirect materials Indirect labor Other overhead costs 15,000 80,000 120,000 1,400,000...
Exercise 3-9 Applying Overhead; T-accounts; Journal Entries (LO3-1, LO3-2, L03-4) Harwood Company uses a job-order costing...
Exercise 3-9 Applying Overhead; T-accounts; Journal Entries (LO3-1, LO3-2, L03-4) Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.90 per machine-hour was based on a cost formula that estimates $246,500 of total manufacturing overhead for an estimated activity level of 85,000 machine-hours. Required: 1. Assume that during the year the company works only 80,000 machine-hours and incurs the following costs in the Manufacturing Overhead...
1. Calculate and dispose of overapplied or underapplied manufacturing overhead. 2. Calculate the cost of goods...
1. Calculate and dispose of overapplied or underapplied manufacturing overhead. 2. Calculate the cost of goods manufactured and cost of goods sold. 3. Prepare an income statement for a manufacturing firm. 5 ? X . HOME - Sign In FILE INSERT Cost of Goods Manufactured and Cost of Goods Sold - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW AA = % D D A. Alignment Number Conditional Format as Cell - Formatting Table Styles - Calibri B I - Paste...
I need help with my assignment please. Exercise 2-14 Factory overhead computed, applied, and adjusted LO...
I need help with my assignment please.
Exercise 2-14 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to the questions displayed below.] In December 2014. Custom Mfg, established its predetermined overhead rate for jobs produced during year 2015 by using the following cost predictions: overhead costs, $720,000, and direct labor costs, $300,000. At year-end 2015, the company's records show that actual overhead costs for the year are $1,317,900. Actual direct labor cost had been assigned...
Updates N Sane updane Help S Exercise 3-9 Applying Overhead; T-accounts; Journal Entries [LO3-1, LO3-2, LO3-4...
Updates N Sane updane Help S Exercise 3-9 Applying Overhead; T-accounts; Journal Entries [LO3-1, LO3-2, LO3-4 Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.40 per machine-hour was based on a cost formula that estimates $192,000 of total manufacturing overhead for an estimated activity level of 80,000 machine-hours. Required 1. Assume that during the year the company works only 75,000 machine-hours and incurs the...
please help me this
ework A Saved Exercise 15-13 Adjusting factory overhead LO P4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 $52,000 12,000 72,000 $ May 31 70,000 24,900 53,689 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received...
how do i calculate?
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $46,500 10,900 66,500 59,000 22,700 42,600 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost...
how do i calculate?
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $46,500 10,900 66,500 59,000 22,700 42,600 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost...
T Mgr. Ac... Saved me Insert Draw Design Layout References Mailings Review View Help .....2 ...3.. 1.1.6.7. My Act 2121 -Opter 3 w Somer 20201 3) Dipaola Corporation has provided the following data conceming last month's operations Purchases of raw materials $ 26,000 Indirect materials included in manufacturing overhead $ 6,000 Direct labor cost $ 58,000 Manufacturing overhead applied to Work in Process $ 87,000 Overapplied overhead $ 6,000 Beginning Ending Rematerials entory $ 12,000 $ 18,000 Work in processor...
please help me to correct the question. tks
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 $ $46,000 10,800 66,000 May 31 58,000 22,500 41,600 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based...
ter 15 Saved Help Exercise 15-13 Adjusting factory overhead LO P4 The following information is available for Lock-Tite Company, which produces special-order security products and uses ajob order costing system. April 301 May 311 Inventories Raw materials Work in process Finished goods $43,000 52,000 21,300 35,600 10,200 63, 000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 210,000 345,000 Indirect materials Indirect labor Other overhead costs 15,000 80,000 120,000 1,400,000...
Exercise 3-9 Applying Overhead; T-accounts; Journal Entries (LO3-1, LO3-2, L03-4) Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.90 per machine-hour was based on a cost formula that estimates $246,500 of total manufacturing overhead for an estimated activity level of 85,000 machine-hours. Required: 1. Assume that during the year the company works only 80,000 machine-hours and incurs the following costs in the Manufacturing Overhead...
1. Calculate and dispose of overapplied or underapplied manufacturing overhead. 2. Calculate the cost of goods manufactured and cost of goods sold. 3. Prepare an income statement for a manufacturing firm. 5 ? X . HOME - Sign In FILE INSERT Cost of Goods Manufactured and Cost of Goods Sold - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW AA = % D D A. Alignment Number Conditional Format as Cell - Formatting Table Styles - Calibri B I - Paste...
I need help with my assignment please.
Exercise 2-14 Factory overhead computed, applied, and adjusted LO P3, P4 [The following information applies to the questions displayed below.] In December 2014. Custom Mfg, established its predetermined overhead rate for jobs produced during year 2015 by using the following cost predictions: overhead costs, $720,000, and direct labor costs, $300,000. At year-end 2015, the company's records show that actual overhead costs for the year are $1,317,900. Actual direct labor cost had been assigned...
Updates N Sane updane Help S Exercise 3-9 Applying Overhead; T-accounts; Journal Entries [LO3-1, LO3-2, LO3-4 Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.40 per machine-hour was based on a cost formula that estimates $192,000 of total manufacturing overhead for an estimated activity level of 80,000 machine-hours. Required 1. Assume that during the year the company works only 75,000 machine-hours and incurs the...
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