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Prepare the journal entries to record the following transactions es to record the following transactions of...
The following transactions occurred in during the month of January: a) Purchased $10,000 of raw materials...
The following transactions occurred in during the month of January: a) Purchased $10,000 of raw materials on account b) Requisitioned $8,000 of materials for Jobs 101-105 c) Requisitioned $500 of materials for general factory use d) Paid factory workers wages $7,500 e) Paid factory supervisor salary of $1,500 f) Paid factory rent and utilities of $4,000 g) Applied factory overhead: predetermined rate is $50 per direct labor hour. January Direct Labor hours = 100 h) Completed jobs 101 and 102...
2) Record the following events as Journal Entries. Also, prepare a t-account for Manufacturing Overhead. a)...
2) Record the following events as Journal Entries. Also, prepare a t-account for Manufacturing Overhead. a) Purchased $10,000 of raw materials on account b) There was $7,000 of materials used, $6,000 of which were direct. c) There was $11,000 of wages, $9,000 of which were direct. d) The company paid a $500 utility bill for electricity to run its factory. e) The budgeted manufacturing overhead for the year was $4,000 and was to be applied based on estimated machine hours...
please help me prepare journal entries to record the event and transactions a through i. Required...
please help me prepare journal entries to record the event and
transactions a through i.
Required information [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...
Job Order Cost; Journal Entries; Ending Work in Process; Inventory Analysis Sultan, Inc. manufactures goods to...
Job Order Cost; Journal Entries; Ending Work in Process; Inventory Analysis Sultan, Inc. manufactures goods to special order and uses a job order cost system. During its first month of operations, the following selected transactions took place: a. Materials purchased on account.... b. Materials issued to the factory $37,000 $2,200 5,700 7,100 1,700 ,350 Job 101 Job 103... For general use in the factory...... Factory wages and salaries earned: Job 101..2,700 Job 102. Job 103.... Job 104 For general work...
how do i calculate? Prepare summary journal entries to record the following transactions for a company...
how do i calculate?
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $102,000. b. Direct materials used in production, $42,500. Indirect materials used in production, $15,000. c. Paid cash for factory payroll, $55,000. Of this total, $37,000 is for direct labor and $18,000 is for indirect labor. d. Paid cash for other actual overhead costs, $8,375. e. Applied overhead at the rate of 125%...
2. Prepare journal entries for the month of April to record the above transactions Need helf...
2.
Prepare journal entries for the month of April to record the above
transactions
Need helf with f2,f3,f4
(The following information applies to the questions displayed below.) Marcelino Co's March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is...
Prepare summary Journal entries to record the following transactions for a company in its first month...
Prepare summary Journal entries to record the following transactions for a company in its first month of operations 00:52:15 a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37.000. Indirect materials used in production, $12,000 c. Pald cash for factory payroll, $35.000. Or this total, $25,000 is for direct labor and $10,000 is for indirect labor d. Pald cash for other actual overhead costs, $7.000. e. Applied overhead at the rate of 120% of direct labor...
record journal entries for the following transactions 23) Record journal entries for the following transactions. a)...
record journal entries for the following transactions
23) Record journal entries for the following transactions. a) Issued S8,000 of direct materials to production in the Carving Department. b) Manufacturing labor in the Carving Department amounted to $7,200. c) Allocate manufacturing labor to the appropriate accounts: 90% direct labor; 10% indirect labor. The pay rate for all direct labor is $20 per hour. d) Allocated manufactured overhead in the Carving Department at $15 direct labor per hour Transferred $8,000 of product...
Job Costing Journal Entries Prepare journal entries to record the following transactions and events for September...
Job Costing Journal Entries Prepare journal entries to record the following transactions and events for September using a job order costing system. (a) Purchased raw materials on credit, $189.000. (b) Raw materials requisitioned: $62,000 direct and $40,000 indirect. (c) Factory payroll accrued $125,000, including $75,000 indirect labor, remainder was direct labor. (d) Paid other actual overhead costs totaling $58,500 with cash. (e) Applied overhead totaling $47.500. (f) Finished and transferred jobs totaling $277,800. (g) Jobs costing $189.800 were sold on...
Journal Entries Paulson Manufacturing Company uses the perpetual inventory system to account for its manufacturing inventories....
Journal Entries Paulson Manufacturing Company uses the perpetual inventory system to account for its manufacturing inventories. The following are Paulson's transactions during July 2016: july Received material costing $2,000 from a supplier. The material was purchased on account. Requisitioned $6,000 of material for use in the factory, consisting of $5,000 of direct material and $1,000 of indirect 9 mrial. 11 Recorded the factory payroll: $13,500 of direct labor and $1,500 of indirect labor. 17 Incurred various overhead costs totaling $14,000....
2) Record the following events as Journal Entries. Also, prepare a t-account for Manufacturing Overhead. a) Purchased $10,000 of raw materials on account b) There was $7,000 of materials used, $6,000 of which were direct. c) There was $11,000 of wages, $9,000 of which were direct. d) The company paid a $500 utility bill for electricity to run its factory. e) The budgeted manufacturing overhead for the year was $4,000 and was to be applied based on estimated machine hours...
please help me prepare journal entries to record the event and
transactions a through i.
Required information [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...
Job Order Cost; Journal Entries; Ending Work in Process; Inventory Analysis Sultan, Inc. manufactures goods to special order and uses a job order cost system. During its first month of operations, the following selected transactions took place: a. Materials purchased on account.... b. Materials issued to the factory $37,000 $2,200 5,700 7,100 1,700 ,350 Job 101 Job 103... For general use in the factory...... Factory wages and salaries earned: Job 101..2,700 Job 102. Job 103.... Job 104 For general work...
how do i calculate?
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $102,000. b. Direct materials used in production, $42,500. Indirect materials used in production, $15,000. c. Paid cash for factory payroll, $55,000. Of this total, $37,000 is for direct labor and $18,000 is for indirect labor. d. Paid cash for other actual overhead costs, $8,375. e. Applied overhead at the rate of 125%...
2.
Prepare journal entries for the month of April to record the above
transactions
Need helf with f2,f3,f4
(The following information applies to the questions displayed below.) Marcelino Co's March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is...
Prepare summary Journal entries to record the following transactions for a company in its first month of operations 00:52:15 a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37.000. Indirect materials used in production, $12,000 c. Pald cash for factory payroll, $35.000. Or this total, $25,000 is for direct labor and $10,000 is for indirect labor d. Pald cash for other actual overhead costs, $7.000. e. Applied overhead at the rate of 120% of direct labor...
record journal entries for the following transactions
23) Record journal entries for the following transactions. a) Issued S8,000 of direct materials to production in the Carving Department. b) Manufacturing labor in the Carving Department amounted to $7,200. c) Allocate manufacturing labor to the appropriate accounts: 90% direct labor; 10% indirect labor. The pay rate for all direct labor is $20 per hour. d) Allocated manufactured overhead in the Carving Department at $15 direct labor per hour Transferred $8,000 of product...
Job Costing Journal Entries Prepare journal entries to record the following transactions and events for September using a job order costing system. (a) Purchased raw materials on credit, $189.000. (b) Raw materials requisitioned: $62,000 direct and $40,000 indirect. (c) Factory payroll accrued $125,000, including $75,000 indirect labor, remainder was direct labor. (d) Paid other actual overhead costs totaling $58,500 with cash. (e) Applied overhead totaling $47.500. (f) Finished and transferred jobs totaling $277,800. (g) Jobs costing $189.800 were sold on...
Journal Entries Paulson Manufacturing Company uses the perpetual inventory system to account for its manufacturing inventories. The following are Paulson's transactions during July 2016: july Received material costing $2,000 from a supplier. The material was purchased on account. Requisitioned $6,000 of material for use in the factory, consisting of $5,000 of direct material and $1,000 of indirect 9 mrial. 11 Recorded the factory payroll: $13,500 of direct labor and $1,500 of indirect labor. 17 Incurred various overhead costs totaling $14,000....
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