Homework Answers
Answer:
Debit to factory overhead
Credit to cost of good sold
.
| Date | Account Titles and Explanation | Debit | Credit |
| Factory overhead | XXX | ||
| Cost of Goods Sold | XXX | ||
| (To reduce the cost of goods sold for the overapplied overhead) |
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If the factory overhead is overapplied, then the adjusting journal entry to close the factory overhead...
Calculator Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost...
Calculator Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May I would be $470,500, and total direct labor costs would be $362,000. During May, the actual direct labor cost totaled $31,000, and factory overhead cost incurred totaled $41,900. a. What is the predetermined factory overhead rate based on direct labor cost? Enter...
Exercise 15-13 Adjusting factory overhead LO P4 The following information is available for Lock-Tite Company, which...
Exercise 15-13 Adjusting factory overhead LO P4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 May 31 $ $48,000 11,280 68,888 62,000 23,300 45,600 220, 80e 365,000 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead...
Record the journal entry to close over- or underapplied factory overhead to Cost of Goods Sold...
Record the journal entry to close over- or underapplied factory overhead to Cost of Goods Sold for each of the two companies below. Storm Concert Promotions Valle Home Builders Actual indirect materials costs $ 12,500 $22,000 Actual indirect labor costs 46,000 46,500 Other overhead costs 17,000 47,000 Overhead applied 88,200 105,200
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account balance The chief cost...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account balance The chief cost accountant for Kenner Beverage Co estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May I would be $723,600, and to labor costs would be $603,000. During May, the actual direct labor cost totaled 552,000, and factory overhead cost incurred totaled $64,900 direct .. What is the predetermined factory overhead rate based on direct labor cost Enter...
please help me this ework A Saved Exercise 15-13 Adjusting factory overhead LO P4 The following information is avai...
please help me this
ework A Saved Exercise 15-13 Adjusting factory overhead LO P4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 $52,000 12,000 72,000 $ May 31 70,000 24,900 53,689 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be $602,600, and total direct labor costs would be $524,000. During February, the actual direct labor cost totaled $45,000, and factory overhead cost incurred totaled $53,800. a. What is the predetermined factory overhead rate based on direct labor cost? Enter...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be $549,600, and total direct labor costs would be $458,000. During February, the actual direct labor cost totaled $39,000, and factory overhead cost incurred totaled $48,650. a. What is the predetermined factory overhead rate based on direct labor cost? Enter...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May 1 would be $469,300, and total direct labor costs would be $361,000. During May, the actual direct labor cost totaled $31,000, and factory overhead cost incurred totaled $41,900. a. What is the predetermined factory overhead rate based on direct labor cost? Enter your...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The chief cost...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The chief cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May 1 would be $600,300, and total direct labor costs would be $522,000. During May, the actual direct labor cost totaled $45,000, and factory overhead cost incurred totaled $53,800. a. What is the predetermined factory overhead rate based on direct labor cost? Enter...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be $624,800, and total direct labor costs would be $568,000. During February, the actual direct labor cost totaled $49,000, and factory overhead cost incurred totaled $56,050. a. What is the predetermined factory overhead rate based on direct labor cost? Enter...
Calculator Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May I would be $470,500, and total direct labor costs would be $362,000. During May, the actual direct labor cost totaled $31,000, and factory overhead cost incurred totaled $41,900. a. What is the predetermined factory overhead rate based on direct labor cost? Enter...
Exercise 15-13 Adjusting factory overhead LO P4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 May 31 $ $48,000 11,280 68,888 62,000 23,300 45,600 220, 80e 365,000 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead...
Record the journal entry to close over- or underapplied factory overhead to Cost of Goods Sold for each of the two companies below. Storm Concert Promotions Valle Home Builders Actual indirect materials costs $ 12,500 $22,000 Actual indirect labor costs 46,000 46,500 Other overhead costs 17,000 47,000 Overhead applied 88,200 105,200
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account balance The chief cost accountant for Kenner Beverage Co estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May I would be $723,600, and to labor costs would be $603,000. During May, the actual direct labor cost totaled 552,000, and factory overhead cost incurred totaled $64,900 direct .. What is the predetermined factory overhead rate based on direct labor cost Enter...
please help me this
ework A Saved Exercise 15-13 Adjusting factory overhead LO P4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 $52,000 12,000 72,000 $ May 31 70,000 24,900 53,689 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be $602,600, and total direct labor costs would be $524,000. During February, the actual direct labor cost totaled $45,000, and factory overhead cost incurred totaled $53,800. a. What is the predetermined factory overhead rate based on direct labor cost? Enter...
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be $624,800, and total direct labor costs would be $568,000. During February, the actual direct labor cost totaled $49,000, and factory overhead cost incurred totaled $56,050. a. What is the predetermined factory overhead rate based on direct labor cost? Enter...
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