Homework Answers
Journal entry
| No | General Journal | Debit | Credit |
| 1 | Supplies | 1500 | |
| Account payable | 1500 | ||
| 2 | Service contract in process (1200*60%) | 720 | |
| Operating overhead | 480 | ||
| Supplies | 1200 | ||
| 3 | Service contract in process (60000*80%) | 48000 | |
| Operating overhead | 12000 | ||
| Salaries and wages payable | 60000 | ||
| 4 | Operating overhead | 40000 | |
| Cash | 40000 | ||
| 5 | Service contract in process (48000*90%) | 43200 | |
| Operating overhead | 43200 | ||
| 6 | Cost of completed service contracts | 75000 | |
| Service contract in process | 75000 | ||
T account
| Beg Bal | 0 | Cost of completed service contract | 75000 |
| Supplies | 720 | ||
| Salaries and wages payable | 48000 | ||
| Operating overhead | 43200 | ||
| End Bal | 16920 | ||
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Prepare entries for costs of services provided. (LO 2, 4, 5), AP E2-11 Shown below are...
he following are the job cost related accounts for the law firm of Bonita Associates and...
he following are the job cost related accounts for the law firm
of Bonita Associates and their manufacturing equivalents: Law Firm
Accounts Manufacturing Firm Accounts Supplies Raw Materials
Salaries and Wages Payable Factory Wages Payable Operating Overhead
Manufacturing Overhead Service Contracts in Process Work in Process
Cost of Completed Service Contracts Cost of Goods Sold Cost data
for the month of March follow. 1. Purchased supplies on account
$2,100. 2. Issued supplies $3,100 (60% direct and 40% indirect). 3.
Assigned...
Exercise 15-11 a-b (Part Level Submission) The following are the job cost related accounts for the...
Exercise 15-11 a-b (Part Level Submission) The following are the job cost related accounts for the law firm of Sheridan Associates and their manufacturing equivalents: Law Firm Accounts Supplies Salaries and Wages Payable Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Manufacturing Firm Accounts Raw Materials Factory Wages Payable Manufacturing Overhead Work in Process Cost of Goods Sold Cost data for the month of March follow. 1. 2. 3. Purchased supplies on account $3,400. Issued supplies $1,400...
The following are the job cost related accounts for the law firm of Colaw Associates and...
The following are the job cost related accounts for the law firm of Colaw Associates and their manufacturing equivalents: Law Firm Accounts Manufacturing Firm Accounts Supplies Raw Materials Salaries and Wages Payable Factory Labor Operating Overhead Manufacturing Overhead Service Contracts in Process Work in Process Cost of Completed Service Contracts Cost of Goods Sold Cost data for the month of March follow. 1. Purchased supplies on account $3,400. 2. Issued supplies $1,300 (60% direct and 40% indirect). 3. Assigned labor...
(e) What is the gross profit for May, June, and July? Goods Inventory at the end...
(e) What is the gross profit for May, June, and July? Goods Inventory at the end of each monti. -s of E15-11 The following are the job cost related accounts for the law firm of ates and their manufacturing equivalents: of the law firm of Colaw Associ- Law Firm Accounts Supplies Salaries and Wages Payable Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Manufacturing Firm Accounts Raw Materials Factory Wages Payable Manufacturing Overhead Work in Process Cost...
Bonita Company uses a job order cost system. On May 1, the company has a balance...
Bonita Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $3,890 and
two jobs in process: Job No. 429 $2,540, and Job No. 430 $1,350.
During May, a summary of source documents reveals the following.
Job Number Materials Requisition Slips Labor Time Tickets 429
$2,980 $2,100 430 4,000 3,500 431 4,560 $11,540 7,700 $13,300
General use 900 1,670 $12,440 $14,970 Bonita Company applies
manufacturing overhead to jobs at...
7062-40c-899-259407180866/question cer 15 Homework Question 4 of 5 SHOWROTY Current Attempt in Progress The following are...
7062-40c-899-259407180866/question cer 15 Homework Question 4 of 5 SHOWROTY Current Attempt in Progress The following are the job cost related accounts for the law firm of Colaw Associates and their manufacturing equivalent Law Firm Accounts Supplies Salaries and Wages Payable Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Manufacturing Firm Accounts Raw Materials Factory Wages Payable Manufacturing Overhead Work in Process Cost of Goods Sold Cost data for the month of March follow 1 2. 3. Purchased...
Finished Goods Inventory Manufacturing Overhead Operating Overhead Prepaid Insurance Prepaid Property Taxes Property Tax Payable Raw...
Finished Goods Inventory Manufacturing Overhead Operating Overhead Prepaid Insurance Prepaid Property Taxes Property Tax Payable Raw Materials Inventory Salaries and Wages Payable Sales Revenue Service Contracts in Process Service Salaries and Wages Supplies Utilities Payable Fort Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $85,000. 2. Raw Materials of $30,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,000 was classiñed as indirect materials. 3....
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $49,700. 2. Raw Materials...
Crawford Corporation incurred the following
transactions.
1.
Purchased raw materials on account $49,700.
2.
Raw Materials of $41,700 were requisitioned to the factory. An
analysis of the materials requisition slips indicated that $8,100
was classified as indirect materials.
3.
Factory labor costs incurred were $61,900, of which $50,500
pertained to factory wages payable and $11,400 pertained to
employer payroll taxes payable.
4.
Time tickets indicated that $55,400 was direct labor and $6,500
was indirect labor.
5.
Manufacturing overhead costs incurred...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $47,000. 2. Raw Materials...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $47,000. 2. Raw Materials of $44,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,300 was classified as indirect materials. 3. Factory labor costs incurred were $60,100, of which $51,000 pertained to factory wages payable and $9,100 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,400 was direct labor and $5,700 was indirect labor. 5. Manufacturing overhead costs incurred...
I am looking to solve (b) Question 4 of 5 10/ No. Account Titles and Explanation...
I am looking to solve (b)
Question 4 of 5 10/ No. Account Titles and Explanation Debit Credit 1. Supplies 3000 Accounts Payable 3000 2. Service Contracts in Process 1200 Operating Overhead 800 Supplies 2000 3. Service Contracts in Process 62080 Operating Overhead 15520 Service Salaries and Wages 77600 4. Operating Overhead 46700 Cash 46700 5. Service Contracts in Process 55872 Operating Overhead 55872 6. Cost of Completed Service Contracts 83600 Service Contracts in Process 83600 e Textbook and Media...
he following are the job cost related accounts for the law firm
of Bonita Associates and their manufacturing equivalents: Law Firm
Accounts Manufacturing Firm Accounts Supplies Raw Materials
Salaries and Wages Payable Factory Wages Payable Operating Overhead
Manufacturing Overhead Service Contracts in Process Work in Process
Cost of Completed Service Contracts Cost of Goods Sold Cost data
for the month of March follow. 1. Purchased supplies on account
$2,100. 2. Issued supplies $3,100 (60% direct and 40% indirect). 3.
Assigned...
Exercise 15-11 a-b (Part Level Submission) The following are the job cost related accounts for the law firm of Sheridan Associates and their manufacturing equivalents: Law Firm Accounts Supplies Salaries and Wages Payable Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Manufacturing Firm Accounts Raw Materials Factory Wages Payable Manufacturing Overhead Work in Process Cost of Goods Sold Cost data for the month of March follow. 1. 2. 3. Purchased supplies on account $3,400. Issued supplies $1,400...
(e) What is the gross profit for May, June, and July? Goods Inventory at the end of each monti. -s of E15-11 The following are the job cost related accounts for the law firm of ates and their manufacturing equivalents: of the law firm of Colaw Associ- Law Firm Accounts Supplies Salaries and Wages Payable Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Manufacturing Firm Accounts Raw Materials Factory Wages Payable Manufacturing Overhead Work in Process Cost...
Bonita Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $3,890 and
two jobs in process: Job No. 429 $2,540, and Job No. 430 $1,350.
During May, a summary of source documents reveals the following.
Job Number Materials Requisition Slips Labor Time Tickets 429
$2,980 $2,100 430 4,000 3,500 431 4,560 $11,540 7,700 $13,300
General use 900 1,670 $12,440 $14,970 Bonita Company applies
manufacturing overhead to jobs at...
7062-40c-899-259407180866/question cer 15 Homework Question 4 of 5 SHOWROTY Current Attempt in Progress The following are the job cost related accounts for the law firm of Colaw Associates and their manufacturing equivalent Law Firm Accounts Supplies Salaries and Wages Payable Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Manufacturing Firm Accounts Raw Materials Factory Wages Payable Manufacturing Overhead Work in Process Cost of Goods Sold Cost data for the month of March follow 1 2. 3. Purchased...
Finished Goods Inventory Manufacturing Overhead Operating Overhead Prepaid Insurance Prepaid Property Taxes Property Tax Payable Raw Materials Inventory Salaries and Wages Payable Sales Revenue Service Contracts in Process Service Salaries and Wages Supplies Utilities Payable Fort Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $85,000. 2. Raw Materials of $30,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,000 was classiñed as indirect materials. 3....
Crawford Corporation incurred the following
transactions.
1.
Purchased raw materials on account $49,700.
2.
Raw Materials of $41,700 were requisitioned to the factory. An
analysis of the materials requisition slips indicated that $8,100
was classified as indirect materials.
3.
Factory labor costs incurred were $61,900, of which $50,500
pertained to factory wages payable and $11,400 pertained to
employer payroll taxes payable.
4.
Time tickets indicated that $55,400 was direct labor and $6,500
was indirect labor.
5.
Manufacturing overhead costs incurred...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $47,000. 2. Raw Materials of $44,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,300 was classified as indirect materials. 3. Factory labor costs incurred were $60,100, of which $51,000 pertained to factory wages payable and $9,100 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,400 was direct labor and $5,700 was indirect labor. 5. Manufacturing overhead costs incurred...
I am looking to solve (b)
Question 4 of 5 10/ No. Account Titles and Explanation Debit Credit 1. Supplies 3000 Accounts Payable 3000 2. Service Contracts in Process 1200 Operating Overhead 800 Supplies 2000 3. Service Contracts in Process 62080 Operating Overhead 15520 Service Salaries and Wages 77600 4. Operating Overhead 46700 Cash 46700 5. Service Contracts in Process 55872 Operating Overhead 55872 6. Cost of Completed Service Contracts 83600 Service Contracts in Process 83600 e Textbook and Media...
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