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8. During March, Hart Company incurred the following cos Job 122 for the manufacture of 200...
11. During March, Hart Company incurred the following costs on Job 122 for the manufacture of...
11. During March, Hart Company incurred the following costs on Job 122 for the manufacture of 200 motors. Original cost accumulation Direct Materials $2,600 Direct Labor 900 Factory Overhead 1,350 Direct costs of reworking 10 units Direct Materials $100 Direct Labor 180 Factory Overhead 270 The rework costs were attributable to the exacting specifications of Job 122, and the full rework costs were charged to this specific job. What is the cost per finished unit of Job 122? a. $25.00...
12. During March, Hart Company incurred the following costs on Job 122 for the manufacture of...
12. During March, Hart Company incurred the following costs on Job 122 for the manufacture of 200 motors. Original cost accumulation Direct Materials $2,600 Direct Labor 900 Factory Overhead 1,350 Direct costs of reworking 10 units Direct Materials $100 Direct Labor 180 Factory Overhead 270 Assume the rework costs are to be spread over all jobs that go through the production cycle. What is the journal entry needed to record the rework costs? a. Debit - Work in Process 550...
9. Rowe Co.'s Job 401 for the manufacture of 2,200 coats was completed during August at...
9. Rowe Co.'s Job 401 for the manufacture of 2,200 coats was completed during August at the unit costs presented below. Final inspection of Job 401 disclosed 200 spoiled coats that were sold to a jobber for $6,000. Direct Materials $24 Direct Labor 18 Factory Overhead 14 Total Cost $56 Assume that spoilage is attributable to the exacting specifications of Job 401 and is charged to this specific job. What would be the journal entry to record the spoilage? a....
Job Costs At the end of August, Rothchild Company had completed Jobs 40 and 42. Job...
Job Costs At the end of August, Rothchild Company had completed Jobs 40 and 42. Job 40 is for 10,000 units, and Job 42 is for 11,000 units. The following data relate to these two jobs: On August 4, Rothchild Company purchased on account 12,000 units of raw materials at $14 per unit. On August 24, raw materials were requisitioned for production as follows: 5,000 units for Job 40 at $8 per unit and 6,200 units for Job 42 at...
During March, the following costs were incurred for each job: Oak Poplar Magnolia Direct materials $1,200...
During March, the following costs were incurred for each job: Oak Poplar Magnolia Direct materials $1,200 $8,000 $2,100 Direct labor* $1,800 $4,800 $360 *Direct labor wages average $20 per direct labor hour. Pine $3,000 $1,200 The company uses a traditional, normal costing system to allocate manufacturing overhead to production. The predetermined manufacturing overhead rate calculated at the beginning of the year was $5 per direct labor hour. Actual manufacturing overhead for March was $2,000. Given that MOH is closed to...
Cornelius Company produces women's clothing. During the year, the company incurred the following costs: $ 405,500...
Cornelius Company produces women's clothing. During the year, the company incurred the following costs: $ 405,500 351,000 Factory rent Direct labor Utilities-factory Purchases of direct materials 44,800 597,500 80,450 70,200 Indirect materials Indirect labor Inventories for the year were as follows: .ces January 1 $ 33,500 49,250 152,000 December 31 Materials $ 52,750 43,400 84,350 Work-in-Process Finished Goods Required: 1&2. Prepare a statement of cost of goods manufactured and calculate cost of goods sold. Direct materials Materials available Materials used...
Cornelius Company produces women's clothing. During the year, the company incurred the following costs: Factory rent...
Cornelius Company produces women's clothing. During the year, the company incurred the following costs: Factory rent Direct labor Utilities-factory Purchases of direct materials Indirect materials Indirect labor $ 408,500 357,000 45,600 602,500 82,150 71,400 Inventories for the year were as follows: Materials Work-in-Process Finished Goods January 1 $ 34,500 49,750 154,000 December 31 $ 54,250 43,800 85,450 Required: 1&2. Prepare a statement of cost of goods manufactured and calculate cost of goods sold. For the Year Ended December 31 Direct...
Cornelius Company produces women's clothing. During the year, the company incurred the following costs: Factory rent...
Cornelius Company produces women's clothing. During the year, the company incurred the following costs: Factory rent Direct labor Utilities-factory Purchases of direct materials Indirect materials Indirect labor $ 380,000 300,000 38,000 555,000 66,000 60,000 Inventories for the year were as follows: Materials Work-in-Process Finished Goods January 1 $ 25,000 45,000 135,000 December 31 $ 40,000 40,000 75,000 Required: 182. Prepare a statement of cost of goods manufactured and calculate cost of goods sold. Cornelius Company Statement of Cost of Goods...
Job Costs At the end of May, Bergan Company had completed Jobs 200 and 305. Job...
Job Costs At the end of May, Bergan Company had completed Jobs 200 and 305. Job 200 is for 2,390 units, and Job 305 is for 2,053 units. The following data relate to these two jobs: On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5...
Job Costs At the end of May, Bergan Company had completed Jobs 200 and 305. Job...
Job Costs At the end of May, Bergan Company had completed Jobs 200 and 305. Job 200 is for 2,390 units, and Job 305 is for 2,053 units. The following data relate to these two jobs: On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5...
11. During March, Hart Company incurred the following costs on Job 122 for the manufacture of 200 motors. Original cost accumulation Direct Materials $2,600 Direct Labor 900 Factory Overhead 1,350 Direct costs of reworking 10 units Direct Materials $100 Direct Labor 180 Factory Overhead 270 The rework costs were attributable to the exacting specifications of Job 122, and the full rework costs were charged to this specific job. What is the cost per finished unit of Job 122? a. $25.00...
12. During March, Hart Company incurred the following costs on Job 122 for the manufacture of 200 motors. Original cost accumulation Direct Materials $2,600 Direct Labor 900 Factory Overhead 1,350 Direct costs of reworking 10 units Direct Materials $100 Direct Labor 180 Factory Overhead 270 Assume the rework costs are to be spread over all jobs that go through the production cycle. What is the journal entry needed to record the rework costs? a. Debit - Work in Process 550...
9. Rowe Co.'s Job 401 for the manufacture of 2,200 coats was completed during August at the unit costs presented below. Final inspection of Job 401 disclosed 200 spoiled coats that were sold to a jobber for $6,000. Direct Materials $24 Direct Labor 18 Factory Overhead 14 Total Cost $56 Assume that spoilage is attributable to the exacting specifications of Job 401 and is charged to this specific job. What would be the journal entry to record the spoilage? a....
Job Costs At the end of August, Rothchild Company had completed Jobs 40 and 42. Job 40 is for 10,000 units, and Job 42 is for 11,000 units. The following data relate to these two jobs: On August 4, Rothchild Company purchased on account 12,000 units of raw materials at $14 per unit. On August 24, raw materials were requisitioned for production as follows: 5,000 units for Job 40 at $8 per unit and 6,200 units for Job 42 at...
During March, the following costs were incurred for each job: Oak Poplar Magnolia Direct materials $1,200 $8,000 $2,100 Direct labor* $1,800 $4,800 $360 *Direct labor wages average $20 per direct labor hour. Pine $3,000 $1,200 The company uses a traditional, normal costing system to allocate manufacturing overhead to production. The predetermined manufacturing overhead rate calculated at the beginning of the year was $5 per direct labor hour. Actual manufacturing overhead for March was $2,000. Given that MOH is closed to...
Cornelius Company produces women's clothing. During the year, the company incurred the following costs: $ 405,500 351,000 Factory rent Direct labor Utilities-factory Purchases of direct materials 44,800 597,500 80,450 70,200 Indirect materials Indirect labor Inventories for the year were as follows: .ces January 1 $ 33,500 49,250 152,000 December 31 Materials $ 52,750 43,400 84,350 Work-in-Process Finished Goods Required: 1&2. Prepare a statement of cost of goods manufactured and calculate cost of goods sold. Direct materials Materials available Materials used...
Cornelius Company produces women's clothing. During the year, the company incurred the following costs: Factory rent Direct labor Utilities-factory Purchases of direct materials Indirect materials Indirect labor $ 408,500 357,000 45,600 602,500 82,150 71,400 Inventories for the year were as follows: Materials Work-in-Process Finished Goods January 1 $ 34,500 49,750 154,000 December 31 $ 54,250 43,800 85,450 Required: 1&2. Prepare a statement of cost of goods manufactured and calculate cost of goods sold. For the Year Ended December 31 Direct...
Cornelius Company produces women's clothing. During the year, the company incurred the following costs: Factory rent Direct labor Utilities-factory Purchases of direct materials Indirect materials Indirect labor $ 380,000 300,000 38,000 555,000 66,000 60,000 Inventories for the year were as follows: Materials Work-in-Process Finished Goods January 1 $ 25,000 45,000 135,000 December 31 $ 40,000 40,000 75,000 Required: 182. Prepare a statement of cost of goods manufactured and calculate cost of goods sold. Cornelius Company Statement of Cost of Goods...
Job Costs At the end of May, Bergan Company had completed Jobs 200 and 305. Job 200 is for 2,390 units, and Job 305 is for 2,053 units. The following data relate to these two jobs: On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5...
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