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Prevent entries to record the following tumanized operations related to production for a company using a...
Present entries to record the following summarized operations related to production for a company using a...
Present entries to record the following summarized operations related to production for a company using a job order cost system: (a) Materials purchased on account $176,000 (b) Prepaid expenses incurred on account 12,200 (c) Materials requisitioned: For production orders 153,700 For general factory use 2,700 (d) Factory labor used: On production orders 141,300 For general factory purposes 12,000 (e) Depreciation on factory equipment 37,000 (f) Expiration of prepaid expenses, chargeable to factory 6,100 (g) Factory overhead costs incurred on account...
Journalize the entries to record the following summarized operations related to production for a company using...
Journalize the entries to record the following summarized operations related to production for a company using a job order cost system: a. $176,000 12,200 C. 153,700 2,700 Materials purchased on account b. Prepaid expenses incurred on account Materials requisitioned: For production orders For general factory use d. Factory labor used: On production orders For general factory purposes Depreciation on factory equipment Expiration of prepaid expenses, chargeable to factory 9. Factory overhead costs incurred on account Factory overhead applied, based on...
Journalize the entries to record the following summarized operations related to production for a company using...
Journalize the entries to record the following summarized operations related to production for a company using a job order cost system: a. Materials purchased on account $176,000 12,200 b. C. Prepaid expenses incurred on account Materials requisitioned: For production orders For general factory use Factory labor used: On production orders 153,700 2,700 d. For general factory purposes 141,300 12,000 37,000 6,100 76,000 e. f. g. h. i. j. Depreciation on factory equipment Expiration of prepaid expenses, chargeable to factory Factory...
PROBLEM Prepare journal entries to recond the following production for a company using a job order...
PROBLEM Prepare journal entries to recond the following production for a company using a job order cost system to recond the following summarized operations related te . Materials purchased on account, $190,000 expenses incurred on account, $12,000. requisitioned: For production orders, $153,700; for general factory use, $6,700. Factory labor used: On production orders, S143,300; for general factory purposes, $9,000 on on factory equipment, $39,000. Expiration of prepaid expenses, chargeable to factory, $8,000. Factory overhead costs incurred on account, $57,000. Factory...
A fem produces its products by a continuous process involving three production departments, 1 through 3....
A fem produces its products by a continuous process involving three production departments, 1 through 3. Present entries to record the following selected transactions related to production during August a. Materials purchased on account, $120,000 b. Mural reguistioned for use in Department 1. $125,700, of which $124,200 entered directly into the product. If an amount box does not The an entry leaves cabar con bourred in Down 1.195,400, of $174.000 was used derectly in the nature of the product.namun box...
Calculator Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost...
Calculator Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May I would be $470,500, and total direct labor costs would be $362,000. During May, the actual direct labor cost totaled $31,000, and factory overhead cost incurred totaled $41,900. a. What is the predetermined factory overhead rate based on direct labor cost? Enter...
Zoe Corporation has the following information for the month of March: $92,000 6,000 8.000 25,000 Purchases...
Zoe Corporation has the following information for the month of March: $92,000 6,000 8.000 25,000 Purchases Materials inventory, March 1 Materials inventory, March 31 Direct labor Factory overhead Work in process, March 1 Work in process, March 31 Finished goods inventory, March 1 Fished goods inventory, March 31 37,000 22.000 23,500 21,000 30,000 257,000 79,000 sales and admirative expenses . Prepare a schedule of cost of goods manufactured Zoe Corporation Statement of Cost of Goods Manucured For Morth Ended March...
The following account appears in the ledger after only part of the postings have been completed...
The following account appears in the ledger after only part of the postings have been completed for July, the first month of the current fiscal year: Work in Process Duly1 Balance Direct materials Direct labor 60,200 147,000 120,000 Factory overhead is applied to jobs at the rate of 60% of direct labor cost. The actual factory overhead incurred for July was $75,000. Jobs completed during the month totaled $301,200. a. Prepare the journal entries to record (1) the application of...
Assignment Book Show Me How Calculator Foivalent Unts of Production and Related Costs The charges to...
Assignment Book Show Me How Calculator Foivalent Unts of Production and Related Costs The charges to Work in Process Assembly Department for a period, together with formation concerning production, we as follows. Al direct materials are placed in process at the beginning of production Work in Process Assembly Department Ball, 0.000, 35% completed 25.500 To finished Goods 207.000 units Direct mat, 212,000 units 420,000 $2.00 Director 397,300 Factory ove 150 Lits, completed Determine the following a. There is in work...
BB The following events occurred during the month of January for McLain Company. Post the entries...
BB The following events occurred during the month of January for McLain Company. Post the entries to the proper T-accounts. Then prepare a trial balance for the month of January 1 McLain purchases 225 units of inventory at $8 per unit for a total of $1,800 on account. 2 McLain sells 200 units of inventory for $20 each in cash. 3 McLain collects $100 in cash on its accounts receivable. 4 McLain take out a loan for $400 5 McLain...
Journalize the entries to record the following summarized operations related to production for a company using a job order cost system: a. $176,000 12,200 C. 153,700 2,700 Materials purchased on account b. Prepaid expenses incurred on account Materials requisitioned: For production orders For general factory use d. Factory labor used: On production orders For general factory purposes Depreciation on factory equipment Expiration of prepaid expenses, chargeable to factory 9. Factory overhead costs incurred on account Factory overhead applied, based on...
Journalize the entries to record the following summarized operations related to production for a company using a job order cost system: a. Materials purchased on account $176,000 12,200 b. C. Prepaid expenses incurred on account Materials requisitioned: For production orders For general factory use Factory labor used: On production orders 153,700 2,700 d. For general factory purposes 141,300 12,000 37,000 6,100 76,000 e. f. g. h. i. j. Depreciation on factory equipment Expiration of prepaid expenses, chargeable to factory Factory...
PROBLEM Prepare journal entries to recond the following production for a company using a job order cost system to recond the following summarized operations related te . Materials purchased on account, $190,000 expenses incurred on account, $12,000. requisitioned: For production orders, $153,700; for general factory use, $6,700. Factory labor used: On production orders, S143,300; for general factory purposes, $9,000 on on factory equipment, $39,000. Expiration of prepaid expenses, chargeable to factory, $8,000. Factory overhead costs incurred on account, $57,000. Factory...
A fem produces its products by a continuous process involving three production departments, 1 through 3. Present entries to record the following selected transactions related to production during August a. Materials purchased on account, $120,000 b. Mural reguistioned for use in Department 1. $125,700, of which $124,200 entered directly into the product. If an amount box does not The an entry leaves cabar con bourred in Down 1.195,400, of $174.000 was used derectly in the nature of the product.namun box...
Calculator Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May I would be $470,500, and total direct labor costs would be $362,000. During May, the actual direct labor cost totaled $31,000, and factory overhead cost incurred totaled $41,900. a. What is the predetermined factory overhead rate based on direct labor cost? Enter...
Zoe Corporation has the following information for the month of March: $92,000 6,000 8.000 25,000 Purchases Materials inventory, March 1 Materials inventory, March 31 Direct labor Factory overhead Work in process, March 1 Work in process, March 31 Finished goods inventory, March 1 Fished goods inventory, March 31 37,000 22.000 23,500 21,000 30,000 257,000 79,000 sales and admirative expenses . Prepare a schedule of cost of goods manufactured Zoe Corporation Statement of Cost of Goods Manucured For Morth Ended March...
The following account appears in the ledger after only part of the postings have been completed for July, the first month of the current fiscal year: Work in Process Duly1 Balance Direct materials Direct labor 60,200 147,000 120,000 Factory overhead is applied to jobs at the rate of 60% of direct labor cost. The actual factory overhead incurred for July was $75,000. Jobs completed during the month totaled $301,200. a. Prepare the journal entries to record (1) the application of...
Assignment Book Show Me How Calculator Foivalent Unts of Production and Related Costs The charges to Work in Process Assembly Department for a period, together with formation concerning production, we as follows. Al direct materials are placed in process at the beginning of production Work in Process Assembly Department Ball, 0.000, 35% completed 25.500 To finished Goods 207.000 units Direct mat, 212,000 units 420,000 $2.00 Director 397,300 Factory ove 150 Lits, completed Determine the following a. There is in work...
BB The following events occurred during the month of January for McLain Company. Post the entries to the proper T-accounts. Then prepare a trial balance for the month of January 1 McLain purchases 225 units of inventory at $8 per unit for a total of $1,800 on account. 2 McLain sells 200 units of inventory for $20 each in cash. 3 McLain collects $100 in cash on its accounts receivable. 4 McLain take out a loan for $400 5 McLain...
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