1) Journal entry
No | General Journal | Debit | Credit |
Work in process | 567600 | ||
Raw material | 567600 | ||
2) Ending balance in raw materials = 84500+614000-567600 = 130900
3) Journal entry
No | General Journal | Debit | Credit |
Work in process | 450000 | ||
Manufacturing overhead | 150000 | ||
Selling and administrative salaries expense | 290000 | ||
Wages payable | 890000 |
4) Manufacturing overhead applied = 41000*12.50 = 512500
1. what is the journal entey to record raw materials used in production? (if no entry...
1. what is the journal entey to record raw materials used in production? (if no entry is required for a transaction/event, select "no journal entey required" in the first account field.) 2. What is the ending balance in Raw Materials? 3. What is the journal entry to record the labor costs incurred during the year? 4. What is the total amount of manufacturing overhead applied to production during the year? 5. What is the total manufacturing cost added to Work...
1. What is the journal entry to record raw materials used in production? 2. What is the ending balance in Raw Materials? 3. What is the journal entry to record the labor costs incurred during the year? 4. What is the total amount of manufacturing overhead applied to production during the year? Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials Work in process Finished goods $ 79,000...
Return to ques 13 were as follows: Raw materials Work in proces Pinished goods $ 84,500 $ 35,000 $ 44,100 Part 13 of 15 1 points The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $12.50 per direct labor-hour was based on a cost formula that estimated $500,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded...
1. What is the journal entry to record raw materials used in production? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)2. What is the ending balance in Raw Materials?3. What is the journal entry to record the labor costs incurred during the year? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)4. What is the total amount of manufacturing overhead applied...
were as TOHOWS. Raw materials Work in process Pinished goods $ 84,500 $ 35,000 $ 44,100 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $12.50 per direct labor-hour was based on a cost formula that estimated $500,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year: a. Raw materials were purchased on account,...
Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company’s inventory balances were as follows: Raw materials $ 84,500 Work in process $ 35,000 Finished goods $ 44,100 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company’s predetermined overhead rate of $12.50 per direct labor-hour was based on a cost formula that estimated $500,000 of total manufacturing overhead for an estimated activity level of 40,000 direct...
Journal entry one is given. Journal entry 2 record the raw materials used in production, 189,000 (151,200 direct materials and 37,800 indirect materials). Journal entry 3 record the entry for accrued direct Labor costs incurred, 50,000; indirect Labor cost incurred, 22,000. Journal entry 4 depreciation recorded on factory equipment, 105,000. Journal entry 5 other manufacturing overhead costs accrued during October, 130,000. Journal entry 6 The company applies manufacturing overhead cost to production on the basis of 6$ per machine hour....
During June, Buttrey Corporation incurred $84.000 of Grect labor costs and $24,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a Multiple Choice debt to work in Process of 504.000 Cred to work in Process of SOB,000 o o debit to Work in Process of $100,000 o credit to Work in Process of 4000 Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's Inventory balances were as...
Dacosta Corporation had only one job in process on May 1. The job had been charged with $1,850 of direct materials. $6.990 of direct labor, and $9.950 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $18.50 per direct labor-hour. During May, the following activity was recorded: $ 8,550 $38,050 $39,350 Raw materials (all direct materials Beginning balance Purchased during the month Used in production Labor: Direct labor-hours worked during the month...
please complete the JOURNAL ENTRY to record the manufactured goods completed during this year Line Following information applies 10 me questions Urspido Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw saterials Work in process Finished goods $ 40,eve $18.ee $ 35,000 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $16.25 per direct labor-hour...