Homework Answers
| Option D is the answer | |
| The debit balance in manufacturing overhead account is adjusted by debiting manufacturing overhead applied account and crediting manufacturing overhead account |
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Question 13 3 pts At end of the year, a company has a $1.200 debit balance...
True or false erlap 1. A movie production company would likely use a job costing system...
True or false
erlap 1. A movie production company would likely use a job costing system to track revenues and costs. 2. A process costing system is used by companies that make identical units of product in batches. 3. The journal entry for recording timesheet submissions by employees working on various jobs will include a debit to the Direct Labor account. 4. When a manufacturing company purchases raw materials, the Raw Materials Inventory account is debited. 5. When direct materials...
2 pts Question 34 In a process costing system, when manufacturing overhead costs are applied to...
2 pts Question 34 In a process costing system, when manufacturing overhead costs are applied to the cost of production, they are debited to: the Finished Goods Inventory account. the Cost of Goods Sold account. the Work in Process Inventory account. the Manufacturing Overhead account. the Raw Materials Inventory account. one must be able to reasonable Question 33 201 Wilturner Company incurs $82,000 of labor related directly to the product in the Assembly Department, $31,000 of labor related to the...
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...
Question 11 3 pts For the year, the Pittsburgh Forging Company budgeted $7,500,000 for manufacturing overhead,...
Question 11 3 pts For the year, the Pittsburgh Forging Company budgeted $7,500,000 for manufacturing overhead, budgeted 250,000 machine hours, had $7.400,000 actual overhead costs, had 240,000 actual machine hours, and had 500.000 direct labor hours. The company applies overhead based on machine hours. What is the over or under applied overhead for the year? (Only enter the amount. The next question will ask whether it was under or over applied.) Question 12 1 pts Is the amount in the...
Aspen Company estimates its manufacturing overhead to be $608,400 and its direct labor costs to be $507,000 for year 2....
Aspen Company estimates its manufacturing overhead to be $608,400 and its direct labor costs to be $507,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $272,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $340,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $68,000. Actual...
Please answer the question which are CIRCLED IN RED！！ Thanks a lot At Allen Company, manufacturing...
Please answer the question which are CIRCLED IN RED！！ Thanks a
lot
At Allen Company, manufacturing overhead is applied at the rate of 160% of 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...
13&14) Question 13 2 pts The debit balance in Cash Short and Over at the end...
13&14)
Question 13 2 pts The debit balance in Cash Short and Over at the end of an accounting period is reported as O an expense on the income statement income on the income statement an asset on the balance sheet a liability on the balance sheet Question 14 2 pts A check drawn by a company in payment of a voucher for $965 was recorded in the journal as $695. What entry is required in the company's accounts? debit...
QUESTION 4 Before disposing of is year-end manufacturing overhead balance, Delphi Corporation had the following amounts...
QUESTION 4 Before disposing of is year-end manufacturing overhead balance, Delphi Corporation had the following amounts in Manufacturing Overhead and Cost of Goods Sold: Applied manufacturing overhead $100.000 Actual manufacturing overhead 90,000 Unadjusted cost of goods sold 800,000 If Delphi closes the balance of its Manufacturing Overhead account directly to Cost of Goods Sold, how much is adjusted cost of goods sold? 8. $790,000 5 $810,000 5890 000 0 3900.000 . None of the above. QUESTIONS The Manufacturing Overhead account...
Question 22 4 pts The floor supervisor for the manufacturing division of Appep Products, Inc., a...
Question 22 4 pts The floor supervisor for the manufacturing division of Appep Products, Inc., a company that uses the job order costing method of accounting for product, requisitions raw materials from the RM storeroom and put this material in the manufacturing process. The journal entry that should be made by Appep to account for this requisition is debit raw materials inventory, credit work in process inventory. O debit raw materials inventory, credit finished goods inventory. O credit raw materials...
Kelsh Company has the following estimated costs for next year: $ 10,000 30,000 40,000 20,000 4.000...
Kelsh Company has the following estimated costs for next year: $ 10,000 30,000 40,000 20,000 4.000 1. Direct materials Direct labor Sales commissions Salary of production supervisor Indirect materials Advertising expense Rent on factory equipment 8,000 10,000 Kelsh estimates that 10,000 machine hours will be worked during the year. The overhead rate per machine hour will be (Hint: Choose which of the above costs are Overhead costs, add them together, and divide the total by 10,000): a.$6.80. Os3.40. d. S8.20...
True or false
erlap 1. A movie production company would likely use a job costing system to track revenues and costs. 2. A process costing system is used by companies that make identical units of product in batches. 3. The journal entry for recording timesheet submissions by employees working on various jobs will include a debit to the Direct Labor account. 4. When a manufacturing company purchases raw materials, the Raw Materials Inventory account is debited. 5. When direct materials...
2 pts Question 34 In a process costing system, when manufacturing overhead costs are applied to the cost of production, they are debited to: the Finished Goods Inventory account. the Cost of Goods Sold account. the Work in Process Inventory account. the Manufacturing Overhead account. the Raw Materials Inventory account. one must be able to reasonable Question 33 201 Wilturner Company incurs $82,000 of labor related directly to the product in the Assembly Department, $31,000 of labor related to the...
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...
Question 11 3 pts For the year, the Pittsburgh Forging Company budgeted $7,500,000 for manufacturing overhead, budgeted 250,000 machine hours, had $7.400,000 actual overhead costs, had 240,000 actual machine hours, and had 500.000 direct labor hours. The company applies overhead based on machine hours. What is the over or under applied overhead for the year? (Only enter the amount. The next question will ask whether it was under or over applied.) Question 12 1 pts Is the amount in the...
Please answer the question which are CIRCLED IN RED！！ Thanks a
lot
At Allen Company, manufacturing overhead is applied at the rate of 160% of 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...
13&14)
Question 13 2 pts The debit balance in Cash Short and Over at the end of an accounting period is reported as O an expense on the income statement income on the income statement an asset on the balance sheet a liability on the balance sheet Question 14 2 pts A check drawn by a company in payment of a voucher for $965 was recorded in the journal as $695. What entry is required in the company's accounts? debit...
QUESTION 4 Before disposing of is year-end manufacturing overhead balance, Delphi Corporation had the following amounts in Manufacturing Overhead and Cost of Goods Sold: Applied manufacturing overhead $100.000 Actual manufacturing overhead 90,000 Unadjusted cost of goods sold 800,000 If Delphi closes the balance of its Manufacturing Overhead account directly to Cost of Goods Sold, how much is adjusted cost of goods sold? 8. $790,000 5 $810,000 5890 000 0 3900.000 . None of the above. QUESTIONS The Manufacturing Overhead account...
Question 22 4 pts The floor supervisor for the manufacturing division of Appep Products, Inc., a company that uses the job order costing method of accounting for product, requisitions raw materials from the RM storeroom and put this material in the manufacturing process. The journal entry that should be made by Appep to account for this requisition is debit raw materials inventory, credit work in process inventory. O debit raw materials inventory, credit finished goods inventory. O credit raw materials...
Kelsh Company has the following estimated costs for next year: $ 10,000 30,000 40,000 20,000 4.000 1. Direct materials Direct labor Sales commissions Salary of production supervisor Indirect materials Advertising expense Rent on factory equipment 8,000 10,000 Kelsh estimates that 10,000 machine hours will be worked during the year. The overhead rate per machine hour will be (Hint: Choose which of the above costs are Overhead costs, add them together, and divide the total by 10,000): a.$6.80. Os3.40. d. S8.20...
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