3.
Date | Account | Debit | Credit |
31-Dec | Overhead control | $172,500 | |
Lease payable | $6,800 | ||
Accumulated depreciation | 19,340 | ||
Wages payable | 90,400 | ||
Utilities payable | 14,560 | ||
Other payables | 41,400 | ||
31-Dec | Work in process ($129,600/13,500*18,100) | $173,760 | |
Overhead control | $173,760 |
4. Overhead is overapplied by $1,260 ($173,760-172,500)
Specifically looking for help with question number 3 and question number 4. On question 3 there...
Specifically looking for help with question #5 about Job 32. The answers shown in the Photo from my attempt are incorrect. Pretermined Overeates, Variances, Coulos Bawyer Costume Company located in New York Owners and m anymore anym oroduces th e one Ow Instinctions 210.000 Complete Overhead Cost of Goods Sold 210,000 Job 32 was the only in process of the end of the first quarter. A total of 1000 direct labor hours 1510 per hour were charged to Job 32...
Predetermined Overhead Rates, Variances, Cost Flows Barrymore Costume Company, located in New York City, sews costumes for plays and musicals. Barrymore considers itself primarily a service firm, as it never produces costumes without a preexisting order and only purchases materials to the specifications of the particular job. Any finished goods ending inventory is temporary and is zeroed out as soon as the show producer pays for the order. Overhead is applied on the basis of direct labor cost. During the...
At the beginning of the year, Smith Company budgeted overhead of $129,600 as well as 13,500 direct labor hours. During the year, Job K456 was completed with the following information: direct materials cost, $2,750; direct labor cost, $5,355. The average wage for Smith Company employees is $17 per hour. By the end of the year, 18,100 direct labor hours had actually been worked, and Smith incurred the following actual overhead costs for the year: Equipment lease $ 6,800 Depreciation on...
Chart of Accounts Factory Overhead General Journal Instruction The Winston Company estimates that the factory overhead for the following year will be 5716,400. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 39,800 hours. The total machine hours for the year were 54,400 hours. The actual factory Overhead for the year was 993000 Required aj Determine the total factory overhead amount oled Dj Calculate the replied or under led...
Sundance Solar Company operates two factories. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Factory 1 $1,504,500 Factory 2 $914,400 Estimated factory overhead cost for fiscal year beginning March 1 Estimated direct labor hours for year Estimated machine hours for year 25,400 50,150 Actual factory overhead costs for...
During April, Almerinda Company incurred factory overhead costs as follows: indirect materials, $42,800; indirect labor, $99,200; utilities cost, $18,200; and factory depreciation, $49,000. Journalize the entry on Apr. 30 to record the factory overhead incurred during April. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTSAlmerinda CompanyGeneral Ledger ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies...
Can I get some help solving this problem Instructions Old School Publishing Inc. began printing operations on January 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets, Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charged directly to...
Instruction Winston Company estimates that the factory overhead for the following year will be $1,148,400. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 39,600 hours. The total machine hours for the year were 54,600 hours. The actual factory overhead for the year was $1,606,000. Required: a. Determine the total factory overhead amount applied. b. Compute the overapplied or underapplied amount for the year. Enter the amount as a...
Direct laber costs Instructions Journal Chart of Accounts Instructions During May, Bargan Company accumulated 2.500 hours of drect abor costs on Job 200 and 3,000 hous on Job 305. The total direct labor was incumed at a rate of $28 per direct isbor hour for Job 200 and S24 per dnect abor hour for Job 305 Joumale the enty to recond the low of labor costs into produeton duning May Reter to the Chart of Aacounts for axact wonding of...
A summary of the time tickets for the current month follows: Job No. Amount 100 $ 3,690 101 4,010 104 23,040 108 21,440 Indirect 6,000 111 6,880 115 7,620 117 34,540 Journalize the entry on Dec. 31 to record the factory labor costs. Refer to the Chart of Accounts for exact wording of account titles. Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in...