a) | Journal Entries | ||||
Particulars | Debit | Credit | |||
GIP - 1010 | $ 136,200.00 | ||||
To Materials | $ 45,000.00 | ||||
To Direct labor | $ 72,000.00 | ||||
To Manu. OH | $ 19,200.00 | ||||
GIP - 1011 | $ 152,800.00 | ||||
To Materials | $ 59,000.00 | ||||
To Direct labor | $ 77,000.00 | ||||
To Manu. OH | $ 16,800.00 | ||||
GIP - 1012 | $ 72,200.00 | ||||
To Materials | $ 35,000.00 | ||||
To Direct labor | $ 30,000.00 | ||||
To Manu. OH | $ 7,200.00 | ||||
GIP - 1013 | $ 78,000.00 | ||||
To Materials | $ 26,000.00 | ||||
To Direct labor | $ 40,000.00 | ||||
To Manu. OH | $ 12,000.00 | ||||
Manufacturing OH | $ 55,800.00 | ||||
To Cash | $ 55,800.00 | ||||
Finished Goods | $ 214,200.00 | ||||
To GIP 1010 | $ 136,200.00 | ||||
To GIP 1013 | $ 78,000.00 | ||||
Cost of Goods sold | $ 214,200.00 | ||||
To Finished Goods | $ 214,200.00 | ||||
Cash | $ 387,000.00 | ||||
To Sales | $ 387,000.00 |
b) | Balance in GIP inventory | $ 152,800.00 | |||
Balance in Finished Goods | $ 72,200.00 | ||||
Factory OH (Under applied) | $ 600.00 | (W.N) | |||
W.N | |||||
Applied OH | |||||
GIP - 1010 | $ 19,200.00 | ||||
GIP - 1011 | $ 16,800.00 | ||||
GIP - 1012 | $ 7,200.00 | ||||
GIP - 1013 | $ 12,000.00 | ||||
$ 55,200.00 | |||||
Actual OH | $ 55,800.00 | ||||
Underapplied OH | $ 600.00 |
4.. Dina Corp. uses a job order cost accounting system. Four jobs were started during the...
This is for my Managerial Accounting class. I need to complete the Job Order Costing journal entries... Please disregard my notes. I need help/answers. Thank you in advance! *GO for Est OH Cost + hours-amt ins text to Graded Problems Problems * Figure out amt overneod & apply it Job Order Costing (15 pts.) est. The Fantasy Company started four jobs last month. All of the jobs were started, Jobs 1010, 1012, and 1013 were completed and Jobs 1010 and...
Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations: a. Materials purchased on account, $2,000. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor $1,960 $1,780 2.400 1,170 4,410 2,390 1,590 5,370 3,410 2,490 670 106 3,360 2.140 2,630 For general factory use c. Factory overhead costs incurred on account, $3,740. d. Depreciation...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations: a. Materials purchased on account, $2,130. b. Materials requisitioned and factory labor used: Job No. Materials $2,720 Factory Labor $2,830 3,820 1,870 3,320 2,200 7,450 7,020 5,350 4,730 3,450 920 106 For general factory use 3,400 4,190 c. Factory overhead costs incurred on account, $5,200. d. Depreciation...