Homework Answers
Solution:
Labor cost for Assembly Department = $44,600
Labor cost for Finishing Department = $65900- $44600 = $21,300
| Journal Entry | |||
| Date | Account Title | Debit | Credit |
| 31-Mar | Work in process- Assembly Department Dr [$44600*160%] | $71,360 | |
| Work in process- Finishing Department Dr [$21300*160%] | $34,080 | ||
| To Manufacturing Overhead | $1,05,440 | ||
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Weber Company purchases $50,100 of raw materials on account, and
it incurs $61,000 of factory labor costs. Supporting records show
that (a) the Assembly Department used $24,100 of raw materials and
$36,000 of the factory labor, and (b) the Finishing Department used
the remainder. Manufacturing overhead is assigned to departments on
the basis of 160% of labor costs.
Journalize the assignment of overhead to the Assembly and Finishing
Departments.
2) Goode Company has the following production data for selected
months....
Schwager Company has two production departments Cutting and Assembly, July 1 Inventories are Raw Materials $5,200, Work In Process-Cutting $3,700, Work in Process Assembly $10,000, and finished Goods $2.500. During July, the following transactions occurred 1. Purchased $63,700 of raw materials on account 2. incurred 561,900 of factory labor. (Credit Wages Payable) 3. Incurred $71,500 of manufacturing overhead: $41,600 was paid and the remainder is unpaid 4. Requisitioned materials for Cutting 517,800 and Assembly 59,300 5. Used factory labor for...
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