Question

Extra Credit Chapter 19 PAR The the ather to deponebees w othe e c al year Direct materials Director 417000 210.000 Factory evad is applied to the rate of direct labor cost. The factory incurred for March was 579.500. Jobs completed during the moo d 692.100 (a) Prepare the mal entries to read the application of factory over production during March and the completed during March () What is the balance of the factory overhead count on March 317 (c) was story cheerapplied or underapplied on March 317 (d) Determine the cost of the unfinished on March 31. 2. The Forging Department cepted Job 507 on May 15ch to make 1,000 widgets To complete the job they requisitioned 2,100 sheets at 2.10 per sheet and 3.150 grommets at 50 51 per set The cost drher that the Forging Departm e sis drop-forgestrekes which are counted on machine mounted counter 5452 lied e rhead for each drop-forge stroke. Additionally, $425.00 of overhead is to each job due to sup and teardown Direct laboris $25.20 per hour for the machine operate and 516.30 for the machine loader. The job required 29 hours of labor by the team When the job was complete Job 507 was transferred to Finished Goods Inventory (PGI) When the job was trundered, 60 Sheets were returned used to w material inventory. 95 promet sets were returned, and there were)115 strokes on the counter Journaline all events depicted as of May 15th

Answer 1

1. (a)

Account Titles	Debit	Credit
Work in Process	$           84,000
Factory Overhead		$           84,000
(Factory overhead applied)
Finished Goods Inventory	$        692,100
Work in Process		$         692,100
(Jobs completed)

Factory Overhead applied = $210000 x 40% = $84000

(b) Factory Overhead Account Balance = $84000 - 79500 = $4500 (Credit)

(c) Since the factory overhead account has credit balance, Factory overhead is overapplied

(d) Cost of unfinished jobs = $182000+417000+210000+84000-692100 = $200900

As per HOMEWORKLIB RULES, we can answer only 1 question, i have answered 1, so kindly post others separately