Homework Answers
1) gross earnings of the general manager of the plant
all the other costs are directly traceable to a product's labour costs which is the product's direct labour cost.the gross earnings of the general manager of the plant is an indirect cost because the manager play an indirect role in the prodution process who controlls whole of the plant
2) actual manufacturing ovehead costs were less than the manufacturing overhead costs assigned to jobs
an overapplied overhead occurs when budgeted overhead is greater than the acual overhead
all the other options are incorrect becuse in all the other options the actual manufacturing overheads are higher than the budgeted overheads which is a underapplied overhead
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Which one of the costs below is not considered part of direct labor costs? Employer payroll...
QUESTION 5 Which of the following is included in factory labor costs? Gross earnings. Employer payroll...
QUESTION 5 Which of the following is included in factory labor costs? Gross earnings. Employer payroll taxes. Fringe benefits. All of these are included. QUESTION 6 Kline Manufacturing has the following labor costs: Factory-Gross wages Factory-Net wages Employer Payroll Taxes Payable $500,000 420,000 50,000 The amount recorded as an increase to Factory Labor will be $550,000 $500,000 $470,000 $450,000
Class drill3 Cardella Company applies overhead on the basis of direct labor costs. The company estimates...
Class drill3 Cardella Company applies overhead on the basis of direct labor costs. The company estimates annual overhead costs will be $760,000 and annual direct labor costs will be $950,000. During February, Cardella works on two jobs: A16 and B17. Summary data concerning these jobs are as follows. Manufacturing Costs Incurred Purchased $54,000 of raw materials on account. Factory labor $76,000, plus $4,000 employer payroll taxes. Manufacturing overhead exclusive of indirect materials and indirect labor $59,800. Assignment of Costs Direct...
Garcia Manufacturing uses a job order cost system and applies overhead to production on the basis of direct labor costs
Garcia Manufacturing uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2008, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,000, direct labor $12,000, and manufacturing overhead $16,000. As of January 1, Job No. 49 had been completed at a cost of $90,000 and was part of finished goods inventory. There was...
a. Materials purchases (on credit).b. Direct materials used in production.c. Direct labor paid and...
Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $383,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $28,000; factory rent, $34.000; factory utilities, $19,000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow. a. Materials purchases (on...
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2017, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,400, direct labor $12,240, and manufacturing overhead $16,320. As of January 1, Job No. 49 had been completed at a cost of $91,800 and was part of finished goods inventory. There was...
What is the entry to record the factory labor costs for the month of january and...
What is the entry to record the factory labor costs for the
month of january and what is rhe entry to assign factory labor
production?
Current Attempt in Progress The gross earnings of the factory workers for Larkin Company during the month of January are $87,000. The employer's payroll taxes for the factory payroll are $9,400. The fringe benefits to be paid by the employer on this payroll are $5,000. Of the total accumulated cost of factory labor, 82% is...
r cost system and applies overhead to production on the basis of direct labor costs. On...
r cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $ 24,000, direct labor $ 14,400, and manufacturing overhead $ 19,200. As of January 1, Job 49 had been completed at a cost of $ 108,000 and was part of finished goods inventory. There was a $ 18,000...
Pedriani Company uses a job order cost system and applies overhead on the basis of direct...
Pedriani Company uses a job order cost system and applies overhead on the basis of direct labor hours. On Jan01, 2017, Job No. 25 was the only job in process. Costs incurred prior to Jan01 on this job were as follows: direct materials $10,000; direct labor $6,000; and manufacturing overhead $9,000. Job No. 23 had been completed at a cost of $42,000 and was part of finished goods inventory. There was a $5,000 balance in the Raw Materials Inventory account. During the...
(c) (d) Record the purchase of raw materials, the factory labor costs incurred, and the manufacturing...
(c) (d) Record the purchase of raw materials, the factory labor costs incurred, and the manufacturing overhead costs incurred during the month of January. Record the assignment of direct materials, direct labor, and manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a). Post all costs to the job cost sheets as necessary Total the job cost sheets for any job(s) completed during the month. Record the completion of any job(s) during the...
please help, and explain thank you Show Attempt History Current Attempt in Progress - Your answer...
please help, and explain thank you
Show Attempt History Current Attempt in Progress - Your answer is partially correct. The net earnings of the factory workers for Larkin Company during the month of January are $73,000. The employer's payroll tax the factory payroll are $7,900. The fringe benefits to be paid by the employer on this payroll are $6,100. Of the total accumulated factory labor, 83% is related to direct labor and 17% is attributable to indirect labor. (a) Prepare...
QUESTION 5 Which of the following is included in factory labor costs? Gross earnings. Employer payroll taxes. Fringe benefits. All of these are included. QUESTION 6 Kline Manufacturing has the following labor costs: Factory-Gross wages Factory-Net wages Employer Payroll Taxes Payable $500,000 420,000 50,000 The amount recorded as an increase to Factory Labor will be $550,000 $500,000 $470,000 $450,000
Class drill3 Cardella Company applies overhead on the basis of direct labor costs. The company estimates annual overhead costs will be $760,000 and annual direct labor costs will be $950,000. During February, Cardella works on two jobs: A16 and B17. Summary data concerning these jobs are as follows. Manufacturing Costs Incurred Purchased $54,000 of raw materials on account. Factory labor $76,000, plus $4,000 employer payroll taxes. Manufacturing overhead exclusive of indirect materials and indirect labor $59,800. Assignment of Costs Direct...
What is the entry to record the factory labor costs for the
month of january and what is rhe entry to assign factory labor
production?
Current Attempt in Progress The gross earnings of the factory workers for Larkin Company during the month of January are $87,000. The employer's payroll taxes for the factory payroll are $9,400. The fringe benefits to be paid by the employer on this payroll are $5,000. Of the total accumulated cost of factory labor, 82% is...
r cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $ 24,000, direct labor $ 14,400, and manufacturing overhead $ 19,200. As of January 1, Job 49 had been completed at a cost of $ 108,000 and was part of finished goods inventory. There was a $ 18,000...
(c) (d) Record the purchase of raw materials, the factory labor costs incurred, and the manufacturing overhead costs incurred during the month of January. Record the assignment of direct materials, direct labor, and manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a). Post all costs to the job cost sheets as necessary Total the job cost sheets for any job(s) completed during the month. Record the completion of any job(s) during the...
please help, and explain thank you
Show Attempt History Current Attempt in Progress - Your answer is partially correct. The net earnings of the factory workers for Larkin Company during the month of January are $73,000. The employer's payroll tax the factory payroll are $7,900. The fringe benefits to be paid by the employer on this payroll are $6,100. Of the total accumulated factory labor, 83% is related to direct labor and 17% is attributable to indirect labor. (a) Prepare...
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