Homework Answers
34) Manufacturing overhead applied journal entry
| Date | account and explanation | Debit | Credit |
| Work in process | XXX | ||
| Manufacturing overhead | XXX | ||
So answer is c) Work in process inventory account
33) Journal entry
| Date | account and explanation | Debit | Credit |
| Work in process | 82000 | ||
| Manufacturing overhead | 49000 | ||
| Wages expense | 121000 |
So answer is a) Debit work in process inventory $82000; Debit Factory overhead $49000
29) When overhead applied to less than actual overhead its called under applied overhead
So answer is b) Under applied overhead
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2 pts Question 34 In a process costing system, when manufacturing overhead costs are applied to...
Question 37 2 pts Yamada Company applies factory overhead to its production departments on the basis...
Question 37 2 pts Yamada Company applies factory overhead to its production departments on the basis of 90% of direct labor costs. In the Assembly Department, Yamada had $125,000 of direct labor cost, and in the Finishing Department, Yamada had $35,000 of direct labor cost. The entry to apply overhead to these production departments is: Debit Factory Overhead-Assembly $112,500; debit Factory Overhead-Finishing $31.500, credit Work in Process Inventory $144,000. Debit Factory Overhead $144,000; credit Work in Process Inventory-Assembly $112,500; credit...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages Payable is debited and Work in Process Inventory is credited O Work in Process Inventory is debited and Factory Wages Payable is credited Cost of Goods Manufactured is debited and Direct Labor is credited ODirect Labor and Indirect Labor are debited and Factory Wages Payable is credited O Work in Process Inventory is debited and Factory Overhead is credited costs How much overhead Question...
10) Under Pick Co.'s job-order costing system, manufacturing overhead is applied to work- in-process using a...
10) Under Pick Co.'s job-order costing system, manufacturing overhead is applied to work- in-process using a predetermined annual overhead rate. During January, Pick's transactions included the following: Direct materials issued to production $90,000 Indirect materials issued to production 8,000 Manufacturing overhead incurred $125,000 Manufacturing overhead applied 113,000 Direct labor cost 107,000 Pick had neither beginning nor ending work-in-process inventory. What was the cost of jobs completed in January? a) $302.000 b) $310,000 c) $322,000 d) $330,000
Ecola Company uses a job order costing system. Manufacturing overhead is applied on the basis of...
Ecola Company uses a job order costing system. Manufacturing
overhead is applied on the basis of direct labor cost. Total
manufacturing overhead was estimated to be $214,500 for the year;
direct labor was estimated to total $195,000.
(a) Calculate the predetermined overhead rate.
(b) Calculate cost of goods manufactured.
(c) Calculate the over- or underapplied overhead. (Input the
amount as positive value.)
(d) Calculate adjusted cost of goods sold.
Raw Materials Inventory Work in Process Inventory Finished Goods Inventory (1/1)...
(3) Manufacturing Overhead Accounts Payable 52,200 (4) Manufacturing Overhead Accumulated Depreciation-Equipment 16,750 (5) Depreciation Expense 5,000...
(3) Manufacturing Overhead Accounts Payable 52,200 (4) Manufacturing Overhead Accumulated Depreciation-Equipment 16,750 (5) Depreciation Expense 5,000 Accumulated Depreciation-Buildings 'OTDTGLETHU 15,000 X! (6) Work in Process Inventory Manufacturing Overhead (7) Finished Goods Inventory Ex Work in Process Inventory Click if you would like to Show Work for this question: Open Show Work Your answer is partially correct. Try again. Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1....
Please answer all the question!! Thanks a lot！ At Allen Company, manufacturing overhead is applied based...
Please answer all the question!! Thanks a lot！
At Allen Company, manufacturing overhead is applied based on direct labor hours. Overhead was estimated to be $540,000 and direct labor hours were estimated to be 360,000. Actual direct labor hours and actual direct labor costs for the year amounted to 400,000 hours and $700,000. In addition, Allen Company incurred the following actual costs during the year: * Administrative expenses, $100,000 • Depreciation expense on fixed assets, $500,000 (80% of the depreciation...
1. Which of the following statements is true? A. A process costing system will have a...
1. Which of the following statements is true? A. A process costing system will have a single work in process account B. A process costing system will have a separate raw materials account for each of the major processes. C. A process costing system will have a separate work in process account for each of the major processes 2. The journal entry to record the actual Manufacturing Overhead incurred includes A. a debit to Manufacturing Overhead B. a debit to...
Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120%...
Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120% of direct labor cost. An analysis of the related accounts and job order cost sheet indicates that during the year total manufacturing overhead incurred was $525,000 and that at year-end Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold included $75,000, $50,000, and $375,000, respectively, of direct labor incurred during the current year a. Determine the over-applied manufacturing overhead at year-end...
Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on...
Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $51,200 and its total manufacturing overhead cost to be $81,920 Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in second requirement. Required 1. Calculate the predetermined overhead rate termined...
Finlon Upholstery Inc. uses a job-order costing system to accumulate manufacturing costs. The company's work-in-process on...
Finlon Upholstery Inc. uses a job-order costing system to accumulate manufacturing costs. The company's work-in-process on December 31, 2001, consisted of one job (no. 2077), which was carried on the year-end balance sheet at $156,800. There was no finished-goods inventory on this date. Finlon applies manufacturing overhead to production on the basis of direct-labor cost. (The budgeted direct-labor cost is the company's practical capacity, in terms of direct-labor hours multiplied by the budgeted direct-labor rate.) Budgeted totals for 2002 for...
Question 37 2 pts Yamada Company applies factory overhead to its production departments on the basis of 90% of direct labor costs. In the Assembly Department, Yamada had $125,000 of direct labor cost, and in the Finishing Department, Yamada had $35,000 of direct labor cost. The entry to apply overhead to these production departments is: Debit Factory Overhead-Assembly $112,500; debit Factory Overhead-Finishing $31.500, credit Work in Process Inventory $144,000. Debit Factory Overhead $144,000; credit Work in Process Inventory-Assembly $112,500; credit...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages Payable is debited and Work in Process Inventory is credited O Work in Process Inventory is debited and Factory Wages Payable is credited Cost of Goods Manufactured is debited and Direct Labor is credited ODirect Labor and Indirect Labor are debited and Factory Wages Payable is credited O Work in Process Inventory is debited and Factory Overhead is credited costs How much overhead Question...
10) Under Pick Co.'s job-order costing system, manufacturing overhead is applied to work- in-process using a predetermined annual overhead rate. During January, Pick's transactions included the following: Direct materials issued to production $90,000 Indirect materials issued to production 8,000 Manufacturing overhead incurred $125,000 Manufacturing overhead applied 113,000 Direct labor cost 107,000 Pick had neither beginning nor ending work-in-process inventory. What was the cost of jobs completed in January? a) $302.000 b) $310,000 c) $322,000 d) $330,000
Ecola Company uses a job order costing system. Manufacturing
overhead is applied on the basis of direct labor cost. Total
manufacturing overhead was estimated to be $214,500 for the year;
direct labor was estimated to total $195,000.
(a) Calculate the predetermined overhead rate.
(b) Calculate cost of goods manufactured.
(c) Calculate the over- or underapplied overhead. (Input the
amount as positive value.)
(d) Calculate adjusted cost of goods sold.
Raw Materials Inventory Work in Process Inventory Finished Goods Inventory (1/1)...
(3) Manufacturing Overhead Accounts Payable 52,200 (4) Manufacturing Overhead Accumulated Depreciation-Equipment 16,750 (5) Depreciation Expense 5,000 Accumulated Depreciation-Buildings 'OTDTGLETHU 15,000 X! (6) Work in Process Inventory Manufacturing Overhead (7) Finished Goods Inventory Ex Work in Process Inventory Click if you would like to Show Work for this question: Open Show Work Your answer is partially correct. Try again. Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1....
Please answer all the question!! Thanks a lot！
At Allen Company, manufacturing overhead is applied based on direct labor hours. Overhead was estimated to be $540,000 and direct labor hours were estimated to be 360,000. Actual direct labor hours and actual direct labor costs for the year amounted to 400,000 hours and $700,000. In addition, Allen Company incurred the following actual costs during the year: * Administrative expenses, $100,000 • Depreciation expense on fixed assets, $500,000 (80% of the depreciation...
Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120% of direct labor cost. An analysis of the related accounts and job order cost sheet indicates that during the year total manufacturing overhead incurred was $525,000 and that at year-end Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold included $75,000, $50,000, and $375,000, respectively, of direct labor incurred during the current year a. Determine the over-applied manufacturing overhead at year-end...
Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $51,200 and its total manufacturing overhead cost to be $81,920 Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in second requirement. Required 1. Calculate the predetermined overhead rate termined...
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