Homework Answers
| Overheads | ||||||||||
| House No. | Direct Material | Direct Labour | Total Direct Cost | Depreciation on construction Equipment | Equipment Rentals | Worker Liability Insurance | Total Cost | |||
| House 402 | 58,000 | 44,000 | 102,000 | 14.57% | 976 | 4,371 | 1,020 | 108,368 | ||
| House 403 | 62,000 | 32,000 | 94,000 | 13.43% | 900 | 4,029 | 940 | 99,868 | ||
| House 404 | 61,000 | 58,000 | 119,000 | 17.00% | 1,139 | 5,100 | 1,190 | 126,429 | ||
| House 405 | 86,000 | 57,000 | 143,000 | 20.43% | 1,369 | 6,129 | 1,430 | 151,927 | ||
| Others | 133,000 | 109,000 | 242,000 | 34.57% | 2,316 | 10,371 | 2,420 | 257,108 | ||
| 400,000 | 300,000 | 700,000 | 100.00% | 6,700 | 30,000 | 7,000 | 743,700 | |||
| Houses Completed 402 & 404 | 234,797 | |||||||||
| Journal | Debit | Credit | ||||||||
| g | Finished Goods Inventory A/c Dr. | 234,797 | ||||||||
| To Work In Process A/c | 234,797 | |||||||||
| ( Being FG Inventory created on completion of House 402 & 404 ) | ||||||||||
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g. Houses completed: 402, 404 Credit Debit Accounts Date g. Finished Goods Inventory Work-in-Process Inventory Choose...
"17-30A Accounting for transactions, construction company Superior Construction, Inc. is a home builder in Arizona, Superior...
"17-30A Accounting for transactions, construction company Superior Construction, Inc. is a home builder in Arizona, Superior uses a job order costing system in which each house is a job. Because it constructs houses, the com pany uses an account titled Construction Overhead. The company applies overhead based on estimated direct labor costs. For the year, it estimated construction over. head of $1,150,000 and total direct labor costs of $5,750,000. The following events occurred during August: a. Purchased materials on account,...
countitled Construction Overhead The mated direct labor cost for the year, it estimated $1,150,000 and total...
countitled Construction Overhead The mated direct labor cost for the year, it estimated $1,150,000 and total direct labor costs of $5.750.000 T during Augusti .. Purchased materiale on account, $400.000 Requisitioned direct material and directe the materiale regioned head. The company applies mated construction 0.000. The following events direct labor in construction. Recorded Direct Labor 3. Hou 402 House 403 House 404 House 405 Direct Materials $50,000 62,000 61,000 86,000 $ 44,000 32.000 S8,000 57.000 c. The company incurred total...
#2 i forgot how to calculate C of direct labor and the allocation of manufacturine overhead...
#2
i forgot how to calculate C
of direct labor and the allocation of manufacturine overhead to Job 423. Wages are not yet paid. 1. Journalize completion of the job and the sale of the 5.200 DVDs on account Learning Objectives 2.3 Bal5284,000 .30A Accounting for transactions, construction company Sunset Construction, Inc. is a home builder in Arizona Sunset uses a job order costing system in which each house is a job. Because it constructs houses, the company uses an...
choose from: Please make sure to provide answers to fulfill the boxes above. More Info a....
choose from:
Please make sure to provide answers to fulfill the boxes
above.
More Info a. Purchased materials on account, $490,000 b. Requisitioned direct materials and used direct labor in construction Recorded the materials requisitioned. Direct Materials Direct Labor House 402 $ 51,000 $ 43,000 House 403 69,000 39,000 House 404 61,000 56,000 House 405 85,000 54,000 c. The company incurred total wages of $250,000. Use the data from Item b to assign the wages. Wages are not yet paid....
choose from: Please make sure to provide answers to fulfill the boxes above. More Info a. Purchased materials on accou...
choose from:
Please make sure to provide answers to fulfill the boxes
above.
More Info a. Purchased materials on account, $490,000 b. Requisitioned direct materials and used direct labor in construction Recorded the materials requisitioned. Direct Materials Direct Labor House 402 $ 51,000 $ 43,000 House 403 69,000 39,000 House 404 61,000 56,000 House 405 85,000 54,000 c. The company incurred total wages of $250,000. Use the data from Item b to assign the wages. Wages are not yet paid....
Uudul ULUSL ULU.. why * Requirements e year Pre 1. Calculate Memory's predetermined overhead allocation rate...
Uudul ULUSL ULU.. why * Requirements e year Pre 1. Calculate Memory's predetermined overhead allocation rate for the year. 2. Prepare journal entries to record the events in the general journal. 3. T-accounts for Work-in-Process Inventory and Finished Goods Inventory have been opened for you. Post the appropriate entries to these accounts, identifying each entry by letter. Determine the ending account balances, assuming that the beginning balances were zero. 4. Add the costs of the unfinished houses, and show that...
ry uses a job order casting system in which each house is a it estimated constru...
ry uses a job order casting system in which each house is a it estimated constru More Info b Because it contact houses the company uses an account titled ng events occurred during Aug allocation rate for Purchased materials on account, $420,000 Requisitioned direct materials and used direct labor in construction. Recorded the materials requisitioned. Direct Materials Direct Labor House 402 $ 55,000 $ 46,000 House 403 66,000 32,000 House 404 64,000 55,000 House 405 88,000 54,000 C. The company...
P19-30A Construction, Inc. is a home builder in Arizona. MemoryMemory uses a job order costing system in which each hou...
P19-30A
Construction, Inc. is a home builder in Arizona.
MemoryMemory uses a job order costing system in which each house
is a job. Because it constructs houses, the company uses an
account titled Construction Overhead. The company applies overhead
based on estimated direct labor costs. For the year, it estimated
construction overhead of $1,050,000 and total direct labor cost of
$2,100,000.The following events occurred during August:
a.
Purchased materials on account, $ 420 comma 000$420,000
b.
Requisitioned direct materials and...
"17-30A Accounting for transactions, construction company Superior Construction, Inc. is a home builder in Arizona, Superior uses a job order costing system in which each house is a job. Because it constructs houses, the com pany uses an account titled Construction Overhead. The company applies overhead based on estimated direct labor costs. For the year, it estimated construction over. head of $1,150,000 and total direct labor costs of $5,750,000. The following events occurred during August: a. Purchased materials on account,...
countitled Construction Overhead The mated direct labor cost for the year, it estimated $1,150,000 and total direct labor costs of $5.750.000 T during Augusti .. Purchased materiale on account, $400.000 Requisitioned direct material and directe the materiale regioned head. The company applies mated construction 0.000. The following events direct labor in construction. Recorded Direct Labor 3. Hou 402 House 403 House 404 House 405 Direct Materials $50,000 62,000 61,000 86,000 $ 44,000 32.000 S8,000 57.000 c. The company incurred total...
#2
i forgot how to calculate C
of direct labor and the allocation of manufacturine overhead to Job 423. Wages are not yet paid. 1. Journalize completion of the job and the sale of the 5.200 DVDs on account Learning Objectives 2.3 Bal5284,000 .30A Accounting for transactions, construction company Sunset Construction, Inc. is a home builder in Arizona Sunset uses a job order costing system in which each house is a job. Because it constructs houses, the company uses an...
choose from:
Please make sure to provide answers to fulfill the boxes
above.
More Info a. Purchased materials on account, $490,000 b. Requisitioned direct materials and used direct labor in construction Recorded the materials requisitioned. Direct Materials Direct Labor House 402 $ 51,000 $ 43,000 House 403 69,000 39,000 House 404 61,000 56,000 House 405 85,000 54,000 c. The company incurred total wages of $250,000. Use the data from Item b to assign the wages. Wages are not yet paid....
choose from:
Please make sure to provide answers to fulfill the boxes
above.
More Info a. Purchased materials on account, $490,000 b. Requisitioned direct materials and used direct labor in construction Recorded the materials requisitioned. Direct Materials Direct Labor House 402 $ 51,000 $ 43,000 House 403 69,000 39,000 House 404 61,000 56,000 House 405 85,000 54,000 c. The company incurred total wages of $250,000. Use the data from Item b to assign the wages. Wages are not yet paid....
Uudul ULUSL ULU.. why * Requirements e year Pre 1. Calculate Memory's predetermined overhead allocation rate for the year. 2. Prepare journal entries to record the events in the general journal. 3. T-accounts for Work-in-Process Inventory and Finished Goods Inventory have been opened for you. Post the appropriate entries to these accounts, identifying each entry by letter. Determine the ending account balances, assuming that the beginning balances were zero. 4. Add the costs of the unfinished houses, and show that...
ry uses a job order casting system in which each house is a it estimated constru More Info b Because it contact houses the company uses an account titled ng events occurred during Aug allocation rate for Purchased materials on account, $420,000 Requisitioned direct materials and used direct labor in construction. Recorded the materials requisitioned. Direct Materials Direct Labor House 402 $ 55,000 $ 46,000 House 403 66,000 32,000 House 404 64,000 55,000 House 405 88,000 54,000 C. The company...
P19-30A
Construction, Inc. is a home builder in Arizona.
MemoryMemory uses a job order costing system in which each house
is a job. Because it constructs houses, the company uses an
account titled Construction Overhead. The company applies overhead
based on estimated direct labor costs. For the year, it estimated
construction overhead of $1,050,000 and total direct labor cost of
$2,100,000.The following events occurred during August:
a.
Purchased materials on account, $ 420 comma 000$420,000
b.
Requisitioned direct materials and...
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