Homework Answers
Answer -
The journal entry to record the direct and indirect labor costs incurred during the year
| General Journal | Debit ($) | Credit ($) |
|
Work in Process [Given in question] Manufacturing Overhead [Given in question] Wages Payable [Difference] |
640000 174000 - |
- - 814000 |
Hence, Option - (B) is Correct.
Add Answer to:
Verrett Corporation is a manufacturer that uses job-order costing. The company has supplied the following data...
Verrett Corporation is a manufacturer that uses job-order costing. The company has supplied the following data...
Verrett Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: $ 475,000 $ 476,000 $ 640,000 Raw materials purchased on account Raw materials (all direct) requisitioned for use in production Direct labor cost Manufacturing overhead: Indirect labor cost Other manufacturing overhead costs incurred Cost of goods manufactured Cost of goods sold (unadjusted) What is the journal entry to record the direct and indirect labor costs incurred during the year?...
Tevebaugh Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or...
Tevebaugh Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Beginning inventories: Finished goods $ 30,000 Estimated total manufacturing overhead at the beginning of the year $ 568,000 Estimated direct labor-hours at the beginning of the year 32,000 direct labor-hours Results of operations: Raw materials (all direct) requisitioned for...
Dagostino Corporation uses a job-order costing system. The following data relate to the just completed month's...
Dagostino Corporation uses a job-order costing system. The following data relate to the just completed month's operations. (1) Direct materials requisitioned for use in production, $154,000 (2) Indirect materials requisitioned for use in production, $45,000 (3) Direct labor wages incurred, $94,000 (4) Indirect labor wages incurred, $119,000 (5) Depreciation recorded on factory equipment, $44,000 (6) Additional manufacturing overhead costs incurred, $83,000 (7) Manufacturing overhead costs applied to jobs, $236,000 (8) Cost of jobs completed and transferred from Work in Process...
Piekos Corporation is a manufacturer that uses job-order costing. In a recent period, Piekos' reported total...
Piekos Corporation is a manufacturer that uses job-order costing. In a recent period, Piekos' reported total cost of goods manufactured of $700,000 on its schedule of cost of goods manufactured. Included in this determination was $425,000 in direct labor costs, $150,000 in direct materials used. In addition, Piekos incurred $200,000 in actual manufacturing overhead costs. Based on their predetermined overhead rate, Piekos applied $180,000 in overhead during the period. Which of the following entries would definitely be found in Piekos...
Tevebaugh Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or...
Tevebaugh Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year. Beginning inventories: Finished goods $ 30,000 Estimated total manufacturing overhead at the beginning of the year $ 568,000 Estimated direct labor-hours at the beginning of the year 32,000 direct labor-hours Results of operations: $ 501,000 $ 683,000 33,000 direct...
11. Tatar Corporation is a manufacturer that uses job-order costing. The company has supplied the following...
11. Tatar Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: Beginning inventories: Raw materials Work in process $ 37,000 $ 15,000 Results of operations: Raw materials purchased on account Raw materials (all direct) requisitioned for use in production $ 480,000 $ 434,000 How much is the ending balance in the Raw Materials inventory account? A) $37,000 B) $120,000 C) $83,000 D) S517,000 12. In a job-order costing system...
Week 5 Job Costing The Fine Manufacturing Company uses job order costing system. The company uses...
Week 5 Job Costing The Fine Manufacturing Company uses job order costing system. The company uses machine hours to apply overhead cost to jobs. At the beginning of 2019, the company estimated that 150,000 machine hours would be worked and $900,000 overhead cost would be incurred during 2012. The balances of raw materials, work in process (WIP), and finished goods at the beginning of 2012 were as follows: Raw materials: $40,000 Work in process: $30,000 Finished goods: $60,000 The Fine...
7) Molzahn Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied...
7) Molzahn Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Estimated total manufacturing overhead at the beginning 5481,250 of the year Estimated direct labor-hours at the beginning of the year 35.000 direct labor hours Results of operations: Actual direct labor-hours 40,000 direct labor-hours Manufacturing overhead: Indirect labor cost...
Molzahn Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or...
Molzahn Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Estimated total manufacturing overhead at the beginning of the year Estimated direct labor-hours at the beginning of the year $481,250 35,000 direct labor-hours Results of operations: 40,000 direct labor-hours Actual direct labor-hours Manufacturing overhead: Indirect labor cost Other manufacturing...
Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances...
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 $ 59,500 $37,600 $ 61,800 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 $14.25 per direct labor-hour was based on a cost formula that estimated $570,000 of total manufacturing overhead for an estimated activity level of 40.000 direct labor-hours....
Verrett Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: $ 475,000 $ 476,000 $ 640,000 Raw materials purchased on account Raw materials (all direct) requisitioned for use in production Direct labor cost Manufacturing overhead: Indirect labor cost Other manufacturing overhead costs incurred Cost of goods manufactured Cost of goods sold (unadjusted) What is the journal entry to record the direct and indirect labor costs incurred during the year?...
Dagostino Corporation uses a job-order costing system. The following data relate to the just completed month's operations. (1) Direct materials requisitioned for use in production, $154,000 (2) Indirect materials requisitioned for use in production, $45,000 (3) Direct labor wages incurred, $94,000 (4) Indirect labor wages incurred, $119,000 (5) Depreciation recorded on factory equipment, $44,000 (6) Additional manufacturing overhead costs incurred, $83,000 (7) Manufacturing overhead costs applied to jobs, $236,000 (8) Cost of jobs completed and transferred from Work in Process...
Piekos Corporation is a manufacturer that uses job-order costing. In a recent period, Piekos' reported total cost of goods manufactured of $700,000 on its schedule of cost of goods manufactured. Included in this determination was $425,000 in direct labor costs, $150,000 in direct materials used. In addition, Piekos incurred $200,000 in actual manufacturing overhead costs. Based on their predetermined overhead rate, Piekos applied $180,000 in overhead during the period. Which of the following entries would definitely be found in Piekos...
Tevebaugh Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year. Beginning inventories: Finished goods $ 30,000 Estimated total manufacturing overhead at the beginning of the year $ 568,000 Estimated direct labor-hours at the beginning of the year 32,000 direct labor-hours Results of operations: $ 501,000 $ 683,000 33,000 direct...
11. Tatar Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: Beginning inventories: Raw materials Work in process $ 37,000 $ 15,000 Results of operations: Raw materials purchased on account Raw materials (all direct) requisitioned for use in production $ 480,000 $ 434,000 How much is the ending balance in the Raw Materials inventory account? A) $37,000 B) $120,000 C) $83,000 D) S517,000 12. In a job-order costing system...
7) Molzahn Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Estimated total manufacturing overhead at the beginning 5481,250 of the year Estimated direct labor-hours at the beginning of the year 35.000 direct labor hours Results of operations: Actual direct labor-hours 40,000 direct labor-hours Manufacturing overhead: Indirect labor cost...
Molzahn Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Estimated total manufacturing overhead at the beginning of the year Estimated direct labor-hours at the beginning of the year $481,250 35,000 direct labor-hours Results of operations: 40,000 direct labor-hours Actual direct labor-hours Manufacturing overhead: Indirect labor cost Other manufacturing...
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 $ 59,500 $37,600 $ 61,800 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 $14.25 per direct labor-hour was based on a cost formula that estimated $570,000 of total manufacturing overhead for an estimated activity level of 40.000 direct labor-hours....
Most questions answered within 3 hours.
-
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 1 hour ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 1 hour ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 1 hour ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 1 hour ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 1 hour ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 1 hour ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 1 hour ago -
Write MARIE assembly language programs that do the following:
Write a program that inputs an integer...
asked 1 hour ago -
Explain an understanding of services and protocols.
Explain the job of DNS.
Explain the three email...
asked 1 hour ago -
(As soon as possible) Balance each of the following equations
according to the half-reaction method:
H2O2(aq)...
asked 2 hours ago -
A thin rod with a mass of 3.5kg and a length L=1.5 m is oriented
horizontally....
asked 2 hours ago -
Inheritance pattern in BRCA 1
Describe the inheritance pattern of BRCA 1 Is it recessive or...
asked 2 hours ago