Question

Job Costing 15 E3-27A Record journal entries (Learning Objectives 2, 3, 5, & 6 The following transactions were incurred by Howe Fabricators during January, the first month of its fiscal year Requirements 1. Record the proper journal entry for each transaction. $215,000 of materials was purchased on account. $190,000 of materials was used in production; of this amount, $164,000 was used on specific jobs. Manufacturing labor and salaries for the month totaled $210,000. A total of $180,000 of manufacturing labor and salaries was traced to specific jobs, and the remainder was indirect labor used in the factory. The com ment. The company also received a plant utility bill for $8,000 which will be paid at a later date. a. b. c. d. pany recorded $15,000 of depreciation on the plant and plant equip- e. $70,000 of manufacturing overhead was allocated to specific jobs. f. The company received a bill for CAD design services for $9,000. By the end of January, was manufacturing overhead overallocated or underallocated? By how much? 2. F3.28A Analyze Taccounts (Learnina Obiectives 2, 3. 5. & 6)

Answer 1

ーーーコ PAGE NO.. DATE: Solot Debit () Credi-S ccount T 21500o Q. Kau) malt 21500UD Accaunt payabl 26o00 anu OV C. WWo 210000 kagss payable- 23ooo anu oV 0 ccumola ked abl So0d o,000 CAD des; .9000

ove 7 auocation. On Unden allocation at, manufac nng_ overnheac 구O.OOO 79oo0 addauy incurred $9000 ince anufactuant overhead appliedーく-manufcfmnf unden aiuoc Hence in -he above care manufacluing ovenhaad