journalize the above transactions during august
Homework Answers
Solution
| Date | General Journal | Debit | Credit |
| 1 | Work in process | $ 3,560 | |
| Raw material inventory | $ 3,560 | ||
| (To record material used) | |||
| 2 | Work in process | $ 1,350 | |
| Factory labor payable | $ 1,350 | ||
| (To record labor cost) | |||
| 3 | Manufacturing overhead | $ 850 | |
| Work in process | $ 850 | ||
| (To record actual overhead cost) | |||
| 4 | Work in process | $ 980 | |
| Manufacturing overhead | $ 980 | ||
| (To record overhead applied) |
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journalize the above transactions during august
Alberta Company uses a job-order costing system to measure, record,...
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this is all the information
Lauren Company uses a job-order costing system and a predetermined overhead rate based on machine hours. At the beginning of 2020, Lauren estimated the overhead for the year would be $720,000 and that production would use 90,000 machine hours. The following information relates to the month of August Job 125 Job 126 Job 127 $10.000 $14,000 SO $15.000 $24,000 $20,000 $31.000 Work in process, August 1 Direct materials cost Direct labor costs Actual direct labor...
48. Lauren Company uses a job-order costing system and a predetermined overhead rate based on machine...
48.
Lauren Company uses a job-order costing system and a predetermined overhead rate based on machine hours. At the beginning of 2020, Lauren estimated the overhead for the year would be $720,000 and that production would use 90,000 machine hours. The following information relates to the month of August: Job 125 Job 126 Job 127 $10,000 $14,000 $0 $15.000 $20,000 $2.000 Work in process August 1 Direct materials cost Direct labor costs Actual direct labor hours Actual machine hours $24,000...
Question 8 Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system...
Question 8
Red Fire Inc. produces fire trucks. The company uses a normal
job-order costing system to calculate its cost of goods
manufactured. The company’s policy is to price its job at cost plus
30% markup. On January 1, 2020, there was only one job in process,
with the following costs:
Questions Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system to calculate its cost of goods manufactured. The company's policy is to price its...
Question 8 Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system...
Question 8 Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system to calculate its cost of goods manufactured. The company's policy is to price its job at cost plus 30% markup. On January 1, 2020, there was only one job in process, with the following costs: Job 200 $13,600 Direct materials Direct labour Applied overhead Total 18,000 27,000 $58,600 The following balances were taken from the company's general ledger as of January 1, 2020: Direct...
Fact Pattern:Hamilton Company uses job-order costing. Manufacturing overhead is applied to production at a predetermined rate...
Fact Pattern:Hamilton Company uses job-order costing. Manufacturing overhead is applied to production at a predetermined rate of 150% of direct labor cost. Any over- or underapplied overhead is closed to the cost of goods sold account at the end of each month. Additional information is available as follows: Job 101 was the only job in process at January 31, with accumulated costs as follows: Direct materials $4,000 Direct labor 2,000 Applied manufacturing overhead 3,000 Total manufacturing costs $9,000 Jobs 102,...
ICP 3 Avengers United assigns costs to its products using a job order costing system. The company assembles and pa...
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Skysong Company uses a job costing system. Overhead is allocated based on 120% of direct labour...
Skysong Company uses a job costing system. Overhead is allocated based on 120% of direct labour cost. Last month's transactions in the work-in-process account are shown here: Work in Process $46,100 162,500 To finished goods 113,300 151,700 Beginning balance Direct materials Direct labour Factory overhead $446,400 Only one job, #850, was still in process at the end of the month. Job 850 was charged with $9,600 in overhead for the month. What is the ending balance in the WIP account?...
Moor Company uses a job-order costing system and applies overhead costs to jobs at a rate...
Moor Company uses a job-order costing system and applies overhead costs to jobs at a rate of 120% of direct labor cost. Moor Company started the month of June with three jobs in process. The cost of beginning work in process plus the costs added during June are shown below: Job #1-A Job #3-G Job #7-L beginning work in process ..... $3,250 $2,690 $3,720 COSTS ADDED DURING JUNE: direct materials .............. $4,680 $3,950 $2,870 direct labor .................. 3,530 4,180 2,410...
Moor Company uses a job-order costing system and applies overhead costs to jobs at a rate...
Moor Company uses a job-order costing system and applies overhead costs to jobs at a rate of 120% of direct labor cost. Moor Company started the month of June with three jobs in process. The cost of beginning work in process plus the costs added during June are shown below: Job #1-A Job #3-G Job #7-L beginning work in process ..... $3,250 $2,690 $3,720 COSTS ADDED DURING JUNE: direct materials .............. $4,680 $3,950 $2,870 direct labor .................. 3,530 4,180 2,410...
Moor Company uses a job-order costing system and applies overhead costs to jobs at a rate...
Moor Company uses a job-order costing system and applies overhead costs to jobs at a rate of 120% of direct labor cost. Moor Company started the month of June with three jobs in process. The cost of beginning work in process plus the costs added during June are shown below: beginning work in process Job #1-A $3,250 Job #3-G $2,690 Job #7-L $3,720 COSTS ADDED DURING JUNE: direct materials direct labor ..... $4,680 3,530 $3,950 4,180 $2,870 2,410 During June,...
this is all the information
Lauren Company uses a job-order costing system and a predetermined overhead rate based on machine hours. At the beginning of 2020, Lauren estimated the overhead for the year would be $720,000 and that production would use 90,000 machine hours. The following information relates to the month of August Job 125 Job 126 Job 127 $10.000 $14,000 SO $15.000 $24,000 $20,000 $31.000 Work in process, August 1 Direct materials cost Direct labor costs Actual direct labor...
48.
Lauren Company uses a job-order costing system and a predetermined overhead rate based on machine hours. At the beginning of 2020, Lauren estimated the overhead for the year would be $720,000 and that production would use 90,000 machine hours. The following information relates to the month of August: Job 125 Job 126 Job 127 $10,000 $14,000 $0 $15.000 $20,000 $2.000 Work in process August 1 Direct materials cost Direct labor costs Actual direct labor hours Actual machine hours $24,000...
Question 8
Red Fire Inc. produces fire trucks. The company uses a normal
job-order costing system to calculate its cost of goods
manufactured. The company’s policy is to price its job at cost plus
30% markup. On January 1, 2020, there was only one job in process,
with the following costs:
Questions Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system to calculate its cost of goods manufactured. The company's policy is to price its...
Question 8 Red Fire Inc. produces fire trucks. The company uses a normal job-order costing system to calculate its cost of goods manufactured. The company's policy is to price its job at cost plus 30% markup. On January 1, 2020, there was only one job in process, with the following costs: Job 200 $13,600 Direct materials Direct labour Applied overhead Total 18,000 27,000 $58,600 The following balances were taken from the company's general ledger as of January 1, 2020: Direct...
ICP 3 Avengers United assigns costs to its products using a job order costing system. The company assembles and packages 30 different products based on individual customer orders. Each order has a distinct job number. On April 1, the company had the following amounts in inventory: Direct materials $ 11,700 Work-in-process $ 68,589 Finished goods $ 35,280 Included in the work-in-process account are the following jobs: A1 B2 Direct materials $ 6,300 $ 4,785 Direct labour 12,750 10,815 Overhead applied...
Skysong Company uses a job costing system. Overhead is allocated based on 120% of direct labour cost. Last month's transactions in the work-in-process account are shown here: Work in Process $46,100 162,500 To finished goods 113,300 151,700 Beginning balance Direct materials Direct labour Factory overhead $446,400 Only one job, #850, was still in process at the end of the month. Job 850 was charged with $9,600 in overhead for the month. What is the ending balance in the WIP account?...
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