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Required information [The following information applies to the questions displayed below.) Below are the transactions for...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $57,000; indirect labor, $25,000; factory rent, $37,000; factory utilities, $20,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April. Costs of...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory...
Required information
[The following information applies to the questions
displayed below.]
Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw
materials purchases in April are $560,000, and factory payroll cost
in April is $376,000. Overhead costs incurred in April are:
indirect materials, $55,000; indirect labor, $21,000; factory rent,
$38,000; factory utilities, $24,000; and factory equipment
depreciation, $59,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $640,000 cash in April.
Costs of...
Need help with General Journal. Required Information [The following information applies to the questions displayed below.)...
Need help with General Journal.
Required Information [The following information applies to the questions displayed below.) Web Wizard, Inc., has provided Information technology services for several years. For the first two months of the current year, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, the company switched to the aging of accounts receivable method. The company entered into the following partial list of transactions during the first...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $510,000, and factory payroll cost in April is $381,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $25,000; factory rent, $36,000; factory utilities, $24,000, and factory equipment depreciation, $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $655,000 cash in April. Costs of...
Required information [The following information applies to the questions displayed below.) The general ledger of Jackrabbit...
Required information [The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Debits $ 46,500 30,700 115,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 15,800 35,000 105,000 37,200 $193,000 $193,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $67,400. 2. February 25...
Required information [The following information applies to the questions displayed below.) The following information is available...
Required information [The following information applies to the questions displayed below.) 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 $ $39,000 9,500 52,000 54,000 19,600 34,500 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
0 Required information [The following information applies to the questions displayed below.) The following information is...
0 Required information [The following information applies to the questions displayed below.) The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,764 debit balance, but its July bank statement shows a $27272 cash balance b. Check No. 3031 for $1,170, Check No. 3065 for $361, and Check No. 3069 for $1,938 are outstanding checks as of...
Required information (The following information applies to the questions displayed below.) Sierra Company manufactures soccer balls...
Required information (The following information applies to the questions displayed below.) Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Inventory $16,000 63,500 83,300 24,100 Ending Inventory $17,950 70,500 66,700 12,250 The following additional information describes the company's production activities for...
Required information [The following information applies to the questions displayed below.) Del Gato Clinic's cash account...
Required information [The following information applies to the questions displayed below.) Del Gato Clinic's cash account shows a $14,986 debit balance and its bank statement shows $14,029 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,671. b. The June 30 bank statement lists a $25 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $689 in payment of a utility bill on June...
Required information [The following information applies to the questions displayed below.) Del Gato Clinic's cash account...
Required information [The following information applies to the questions displayed below.) Del Gato Clinic's cash account shows a $12,724 debit balance and its bank statement shows $12,544 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,216. b. The June 30 bank statement lists a $40 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $689 in payment of a utility bill on June...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $57,000; indirect labor, $25,000; factory rent, $37,000; factory utilities, $20,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April. Costs of...
Required information
[The following information applies to the questions
displayed below.]
Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw
materials purchases in April are $560,000, and factory payroll cost
in April is $376,000. Overhead costs incurred in April are:
indirect materials, $55,000; indirect labor, $21,000; factory rent,
$38,000; factory utilities, $24,000; and factory equipment
depreciation, $59,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $640,000 cash in April.
Costs of...
Need help with General Journal.
Required Information [The following information applies to the questions displayed below.) Web Wizard, Inc., has provided Information technology services for several years. For the first two months of the current year, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, the company switched to the aging of accounts receivable method. The company entered into the following partial list of transactions during the first...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $510,000, and factory payroll cost in April is $381,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $25,000; factory rent, $36,000; factory utilities, $24,000, and factory equipment depreciation, $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $655,000 cash in April. Costs of...
Required information [The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Debits $ 46,500 30,700 115,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 15,800 35,000 105,000 37,200 $193,000 $193,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $67,400. 2. February 25...
Required information [The following information applies to the questions displayed below.) 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 $ $39,000 9,500 52,000 54,000 19,600 34,500 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined...
0 Required information [The following information applies to the questions displayed below.) The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,764 debit balance, but its July bank statement shows a $27272 cash balance b. Check No. 3031 for $1,170, Check No. 3065 for $361, and Check No. 3069 for $1,938 are outstanding checks as of...
Required information (The following information applies to the questions displayed below.) Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Inventory $16,000 63,500 83,300 24,100 Ending Inventory $17,950 70,500 66,700 12,250 The following additional information describes the company's production activities for...
Required information [The following information applies to the questions displayed below.) Del Gato Clinic's cash account shows a $14,986 debit balance and its bank statement shows $14,029 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,671. b. The June 30 bank statement lists a $25 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $689 in payment of a utility bill on June...
Required information [The following information applies to the questions displayed below.) Del Gato Clinic's cash account shows a $12,724 debit balance and its bank statement shows $12,544 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,216. b. The June 30 bank statement lists a $40 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $689 in payment of a utility bill on June...
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