Homework Answers
| Date | General Journal | Debit | Credit |
| May 1 | Raw materials inventory | $10,000 | |
| Accounts payable | $10,000 | ||
| ( To record purchase of materials on account) | |||
| May 5 | Work in process | $3,000 | |
| Raw materials inventory | $3,000 | ||
| ( To record issue of direct materials) | |||
| May 7 | Direct labor | $5,000 | |
| Cash | $5,000 | ||
| ( To record direct labor) | |||
| May 8 | Work in process | $1,500 | |
| Manufacturing overhead | $1,500 | ||
| ( To record applied factory overhead) |
Kindly comment if you need further assistance.
Thanks‼!
Add Answer to:
Prepare the journal entries for the following transactions for Miller Products, Inc. which uses a job...
Job Costing Journal Entries Prepare journal entries to record the following transactions and events for September...
Job Costing Journal Entries Prepare journal entries to record the following transactions and events for September using a job order costing system. (a) Purchased raw materials on credit, $189.000. (b) Raw materials requisitioned: $62,000 direct and $40,000 indirect. (c) Factory payroll accrued $125,000, including $75,000 indirect labor, remainder was direct labor. (d) Paid other actual overhead costs totaling $58,500 with cash. (e) Applied overhead totaling $47.500. (f) Finished and transferred jobs totaling $277,800. (g) Jobs costing $189.800 were sold on...
Malone, Inc. uses a job-order cost accounting system and keeps perpetual inventory records. Prepare journal entries...
Malone, Inc. uses a job-order cost accounting system and keeps perpetual inventory records. Prepare journal entries to record the following transactions during the month of July: Jul 2 Purchased raw materials for $23,000 on account. 4 Purchased office supplies for $750 cash. 9 Raw materials requisitioned by production: Direct materials $12,300 Indirect materials 1,760 14 Paid factory utilities, $3,100 and repairs for factory equipment, $3,600. 15 Received property tax bill of $9,850 and accrued for payment at month-end. Sales office...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
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 Inventories Raw materials $ 29,000 $ 56,000 Work in process 9,500 20,600 Finished goods 63,000 34,500 Activities and information for May Raw materials purchases (paid with cash) 172,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 10,000 Indirect labor 34,500 Other overhead costs 114,500 Sales (received in cash) 1,700,000 Predetermined overhead rate based on...
1.General journal entries for factory overhead GGT Products, Inc., uses a job order cost system. Selected...
1.General journal entries for factory overhead GGT Products, Inc., uses a job order cost system. Selected transactions dealing with factory items for the month follow: a. Requisitioned indirect materials from storeroom, $3,200. b. Purchased, on account, factory supplies for future needs, $4,400. c. Purchased parts, on account, for repairing a machine, $1,400. d. Requisitioned factory supplies from storeroom, $900. e. Returned other defective factory supplies to vendor, $700. f. Factory rent accrued for the month, $2,400. g. Returned previously requisitioned...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
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 Inventories Raw materials Work in process Finished goods Activities and informat ion for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials $36,000 $ 51,000 9,100 18,100 68,000 33,000 174,000 250,000 17,000 57,500 Indirect labor Other overhead costs 94,500 Sales (received in cash) Predetermined overhead rate based on direct...
Finn Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. Prepare...
Finn Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. Prepare journal entries to record the following transactions during the month of June. June 1 Purchased raw materials for $20,000 on account. 8 Raw materials requisitioned by production: Direct materials $8,000 Indirect materials 1,000 15 Paid factory utilities, $2,100 and repairs for factory equipment, $8,000. 25 Incurred $108,000 of factory labor. 25 Time tickets indicated the following: Direct...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. 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 Inventories Raw materials $ 29,000 $ 56,000 Work in process 9,500 20,600 Finished goods 63,000 34,500 Activities and information for May Raw materials purchases (paid with cash) 172,000 Factory payroll (paid with cash) 150,000 Factory overhead...
Prepare the journal entries to record the following transactions es to record the following transactions of...
Prepare the journal entries to record the following transactions es to record the following transactions of the Peace Corporation. 1. Material requisitions total $20,000 that was allocated Job # 102--$9,000, and $1,000 of indirect materials. tal $20,000 that was allocated as following: Job #101- -$10,000; material 29000 CASH 29000 Indirect 1,000 Material bone Job 101 wip Materials 10,000 103000 1000 - 9000 Materials so Job 182 WIP 9,00 Materials 2. Time tickets total $15,000 that was allocated as following: Job...
QUESTION 1 Using the Job Order Costing method, prepare journal entries for the following transactions: In...
QUESTION 1 Using the Job Order Costing method, prepare journal entries for the following transactions: In this transaction for the month of October, the Jobs are Job A, Job B and Job C October1 Purchased direct materials on account, $107,700. 2 Purchased indirect materials on account, $24,750. 4 Requested direct materials costing $96,600 (all used on Job A) and indirect materials costing $19,050 for production. 10 Paid the following overhead costs: utilities, $2,200; manufacturing rent, $1,900; and maintenance charges, $1,950....
The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
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 Inventories Raw materials $ 32,000 $ 46,000 Work in process 9,900 20,700 Finished goods 52,000 33,700 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 200,000 Factory overhead Indirect materials 9,000 Indirect labor 46,000 Other overhead costs 110,500 Sales (received in cash) 1,600,000 Predetermined overhead rate based on...
Job Costing Journal Entries Prepare journal entries to record the following transactions and events for September using a job order costing system. (a) Purchased raw materials on credit, $189.000. (b) Raw materials requisitioned: $62,000 direct and $40,000 indirect. (c) Factory payroll accrued $125,000, including $75,000 indirect labor, remainder was direct labor. (d) Paid other actual overhead costs totaling $58,500 with cash. (e) Applied overhead totaling $47.500. (f) Finished and transferred jobs totaling $277,800. (g) Jobs costing $189.800 were sold on...
1.General journal entries for factory overhead GGT Products, Inc., uses a job order cost system. Selected transactions dealing with factory items for the month follow: a. Requisitioned indirect materials from storeroom, $3,200. b. Purchased, on account, factory supplies for future needs, $4,400. c. Purchased parts, on account, for repairing a machine, $1,400. d. Requisitioned factory supplies from storeroom, $900. e. Returned other defective factory supplies to vendor, $700. f. Factory rent accrued for the month, $2,400. g. Returned previously requisitioned...
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 Inventories Raw materials Work in process Finished goods Activities and informat ion for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials $36,000 $ 51,000 9,100 18,100 68,000 33,000 174,000 250,000 17,000 57,500 Indirect labor Other overhead costs 94,500 Sales (received in cash) Predetermined overhead rate based on direct...
Prepare the journal entries to record the following transactions es to record the following transactions of the Peace Corporation. 1. Material requisitions total $20,000 that was allocated Job # 102--$9,000, and $1,000 of indirect materials. tal $20,000 that was allocated as following: Job #101- -$10,000; material 29000 CASH 29000 Indirect 1,000 Material bone Job 101 wip Materials 10,000 103000 1000 - 9000 Materials so Job 182 WIP 9,00 Materials 2. Time tickets total $15,000 that was allocated as following: Job...
Most questions answered within 3 hours.
-
Please solve with excel and mention the excel function.
Thanks
Kevin deposits $10,000 in a savings...
asked 30 seconds ago -
Which Special Journal would the following transaction be
journalized in?
Sold merchandise on account to Customer...
asked 12 minutes ago -
Assuming 100% dissociation, calculate the freezing point (?fTf)
and boiling point (?bTb) of 1.45 ? K3PO4(aq)1.45...
asked 14 minutes ago -
An inflated helium balloon with a volume of 0.35L at
sea level (1.0 atm) was allowed...
asked 16 minutes ago -
Python 3.0 Please
Write a function that takes, as arguments, a binary string, a
list of...
asked 44 minutes ago -
(a) Calculate the momentum of a 2150 kg elephant charging a
hunter at a speed of...
asked 32 minutes ago -
all the following is an example of a fixed cost except: any cost
that changes in...
asked 34 minutes ago -
Briefly describe the changes in pupil diameter that occur with
changes in light intensity or distance...
asked 34 minutes ago -
A small sample from a vial of phenol melts at 39-40 °C. A larger
sample from...
asked 36 minutes ago -
Draw a δ-lysine amino acid and label all the carbons (alpha,
beta, gamma, etc.)
asked 49 minutes ago -
A uniform thin rod of length 0.97 m and mass 2.2 kg lies in a
horizontal...
asked 42 minutes ago -
A 110 kg horizontal beam is supported at each end. A 340 kg
piano rests at...
asked 43 minutes ago