Homework Answers
| Answer | |||
| 1) Record Direct labour | |||
| Transaction | General Journal | Debit | Credit |
| 1 | Work in process (5*500+12*200+100*50) | $ 9,900 | |
| Wages payable | $ 9,900 | ||
| ( To record direct labour) | |||
| 2) Record Overhead applied | |||
| Transaction | General Journal | Debit | Credit |
| 2 | Work in process (5*500+12*200+100*50)*50% | $ 4,950 | |
| Manufacturing overhead | $ 4,950 | ||
| (To record overhead ) | |||
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Ch 150 Exercise 15-19 Job order costing of services LO A1 Diaz and Associates incurred...
Exercise 15-19 Job order costing of services LO A1 Diaz and Associates incurred the following costs...
Exercise 15-19 Job order costing of services LO A1 Diaz and Associates incurred the following costs in completing a tax return for a large company. Diaz applies overhead at 60% of direct labor cost. Labor Hours Used Hourly Rate Partner $ 470 Senior manager 160 Staff accountants 17 110 1. Prepare journal entries to record direct labor and the overhead applied. View transaction list Journal entry worksheet Record direct labor. Note: Enter debits before credits. Transaction General Journal Debit Credit...
Exercise 15-19 Job order costing of services LO A1 Diaz and Associates incurred the following costs...
Exercise 15-19 Job order costing of services LO A1 Diaz and Associates incurred the following costs in completing a tax return for a large company. Dlaz applies overhead at 50 % of direct labor cost. Labor Partner Senior nanager Staff accountants Hours Used Hourly Rate $550 210 14 90 70 1. Prepare journal entries to record direct labor and the overhead applied. View transaction list Journal entry worksheet A B > Record direct labor Note: Enter debits before credts Transaction...
QS 15-14 Job order costing of services LO A1 Check my work An advertising agency used...
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Need help with from C-G ? Ch 15 24 Exercise 15-6 Recording events in job order...
Need help with from C-G ?
Ch 15 24 Exercise 15-6 Recording events in job order costing LO P1, P2, P3, P4 Prepare summary journal entries to record the following transactions for a company in its first month of operations 025 a. Raw materials purchased on account, $90,000 b. Direct materials used in production, $36.500 Indirect materials used in production, $19 200 c. Paid cash for factory payroll, 550,000 of this total, $38,000 is for direct labor and $12,000 is...
Check my During the current month, a company that uses job order costing incurred a monthly...
Check my During the current month, a company that uses job order costing incurred a monthly factory payroll of $235,500. Of this amount, $59,000 is classified as in direct labor and the remainder as direct. Prepare journal entries to record these transactions View transaction list Journal entry worksheet Record the cost of direct labor used. Note: Enter debits before credits. Transaction General Journal Debit Credit Journal entry worksheet Record the cost of indirect labor used. Note: Enter debits before credits...
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Problem 15-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 The following information applies to the questions displayed below.) Widmer Watercraft's predetermined overhead rate for the year 2017 is 200% of direct labor. Information on the company's production activities during May 2017 follows a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the following materials for the month Job 136 Job 137 Job 138 Job 139 Job 140 Total direct...
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Exercise 15-6 Recording events in job order costing LO P1, P2, P3, P4 Prepare summary joumal entries to record the following transactions for a company in its first month of operations a. Raw materials purchased on account, $116 000 b. Direct materials used in production, $16.000. Indirect materials used in production, $20,600 c. Paid cash for factory payroll $55,000. Of this total $41,000 is for direct labor and $14 000 is for indirect labor d. Paid cash for other actual...
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Exercise 15-4 Recording product costs LO P1, P2, P3 Starr Company reports the following information for August...
Exercise 15-4 Recording product costs LO P1, P2, P3 Starr Company reports the following information for August Raw materials purchased on account Direet materials used in production Factory wages earned direct labor) Overhead rate $89,000 $53,800 $21,050 125 of direct labor cost Prepare journal entries to record the following events. 1. Raw materials purchased. 2. Direct materials used in production 3. Direct labor used in production. 4. Applied overhead. View transaction list Journal entry worksheet « А в со Record...
Exercise 15-19 Job order costing of services LO A1 Diaz and Associates incurred the following costs in completing a tax return for a large company. Diaz applies overhead at 60% of direct labor cost. Labor Hours Used Hourly Rate Partner $ 470 Senior manager 160 Staff accountants 17 110 1. Prepare journal entries to record direct labor and the overhead applied. View transaction list Journal entry worksheet Record direct labor. Note: Enter debits before credits. Transaction General Journal Debit Credit...
Exercise 15-19 Job order costing of services LO A1 Diaz and Associates incurred the following costs in completing a tax return for a large company. Dlaz applies overhead at 50 % of direct labor cost. Labor Partner Senior nanager Staff accountants Hours Used Hourly Rate $550 210 14 90 70 1. Prepare journal entries to record direct labor and the overhead applied. View transaction list Journal entry worksheet A B > Record direct labor Note: Enter debits before credts Transaction...
QS 15-14 Job order costing of services LO A1 Check my work An advertising agency used 83 hours of direct labor in creating advertising for a music festival. Direct labor costs $52 per hour. The agency applies overhead at a rate of $42 per direct labor hour. Prepare journal entries to record the agency's direct labor and the applied overhead costs for this job. View transaction list Journal entry worksheet А B Record direct labor. Note: Enter debits before credits...
Need help with from C-G ?
Ch 15 24 Exercise 15-6 Recording events in job order costing LO P1, P2, P3, P4 Prepare summary journal entries to record the following transactions for a company in its first month of operations 025 a. Raw materials purchased on account, $90,000 b. Direct materials used in production, $36.500 Indirect materials used in production, $19 200 c. Paid cash for factory payroll, 550,000 of this total, $38,000 is for direct labor and $12,000 is...
Check my During the current month, a company that uses job order costing incurred a monthly factory payroll of $235,500. Of this amount, $59,000 is classified as in direct labor and the remainder as direct. Prepare journal entries to record these transactions View transaction list Journal entry worksheet Record the cost of direct labor used. Note: Enter debits before credits. Transaction General Journal Debit Credit Journal entry worksheet Record the cost of indirect labor used. Note: Enter debits before credits...
Problem 15-3A Source documents, journal entries, and accounts in job order costing LO P1, P2, P3 The following information applies to the questions displayed below.) Widmer Watercraft's predetermined overhead rate for the year 2017 is 200% of direct labor. Information on the company's production activities during May 2017 follows a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the following materials for the month Job 136 Job 137 Job 138 Job 139 Job 140 Total direct...
Exercise 15-6 Recording events in job order costing LO P1, P2, P3, P4 Prepare summary joumal entries to record the following transactions for a company in its first month of operations a. Raw materials purchased on account, $116 000 b. Direct materials used in production, $16.000. Indirect materials used in production, $20,600 c. Paid cash for factory payroll $55,000. Of this total $41,000 is for direct labor and $14 000 is for indirect labor d. Paid cash for other actual...
Waterway and Associates, a CPA firm, uses job order costing to capture the costs of its audit jobs. There were no audit jobs in process at the beginning of November. Listed below are data concerning the three audit jobs conducted during November. Direct materials Auditor labor costs Auditor hours Waters Inc. $690 $5,600 77 Renolds Inc. $480 $6,900 89 Bayfield Inc. $250 $3,675 46 Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead...
Exercise 15-4 Recording product costs LO P1, P2, P3 Starr Company reports the following information for August Raw materials purchased on account Direet materials used in production Factory wages earned direct labor) Overhead rate $89,000 $53,800 $21,050 125 of direct labor cost Prepare journal entries to record the following events. 1. Raw materials purchased. 2. Direct materials used in production 3. Direct labor used in production. 4. Applied overhead. View transaction list Journal entry worksheet « А в со Record...
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