Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter’s production. 1. Materials purchased on account $196,600, and factory wages incurred $94,100. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $37,140 $19,700 A21 44,720 22,900 A22 36,500 16,900 A23 41,870 27,000 General factory use 4,770 7,600 $165,000 $94,100 3. Manufacturing overhead costs incurred on account $51,500. 4. Depreciation on factory equipment $16,150. 5. Depreciation on the company’s office building was $14,800. 6. Manufacturing overhead rate is 80% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23. Prepare entries to record the operations summarized above.
No. | Accounts Titles and Explanations | Debit | Credit |
1) | Raw materials inventory | $196,600 | |
Account payable | $196,600 | ||
(To record materials purchased ) | |||
Factory Labor | $94,100 | ||
Factory wages payable | $94,100 | ||
(To record factory wages incurred ) | |||
2) | work in process inventory | $160,230 | |
Manufacturing overhead | $4,770 | ||
Raw materials inventory | $165,000 | ||
(To record materials requisitioned ) | |||
Work in process inventory | $86,500 | ||
Manufacturing overhead | $7,600 | ||
Factory Labor | $94,100 | ||
(To record factory labor used) | |||
3) | Manufacturing overhead | $51,500 | |
Accounts payable | $51,500 | ||
(To record manufacturing overhead ) | |||
4) | Manufacturing overhead | $16,150 | |
Accumulated depreciation - Equipment | $16,150 | ||
(To record Depreciation ) | |||
5) | Depreciation expenses | $14,800 | |
Accumulated depreciation - Building | $14,800 | ||
( To record Depreciation on office building) | |||
6) | work in process inventory (80% of 86,500 = $69,200) | $69,200 | |
Manufacturing overhead | $69,200 | ||
( To record manufacturing overhead ) | |||
7) | Finished cost inventory | $249,010 | |
Work in process inventory | $249,010 | ||
( To record jobs completed - A20, A21, A23) |
Note:-
Job | Direct materials | Direct labor | Manufacturing overhead (80% of direct labor ) | Total |
A20 | $37,140 | $19,700 | $15,760 (80% × 19,700) | $72,600 |
A21 | $44,720 | $22,900 | $18,320 (80% × 22,900) | $85,940 |
A23 | $41,870 | $27,000 | $21,600 (80% × 27,000) | $90,470 |
$249,010 |
Enos Printing Corp. uses a job order cost system. The following data summarize the operations related...
Exercise 20-08 Blossom Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $196,600, and factory wages incurred $94,100. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 A21 A22 A23 General factory use $37,140 44,720 36,500 41,870 4,770 $165,000 $19,700 22,900 16,900 27,000 7,600 $94,100 3. Manufacturing overhead costs incurred on account $51,500. 4. Depreciation on factory equipment...
Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter’s production. 1. Materials purchased on account $196,700, and factory wages incurred $94,100. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $37,040 $19,800 A21 45,020 22,600 A22 37,800 16,500 A23 41,370 27,100 General factory use 5,070 8,100 $166,300 $94,100 3. Manufacturing overhead costs incurred on account $51,600. 4. Depreciation on factory equipment $15,850. 5....
Exercise 2-8 Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter’s production. 1. Materials purchased on account $196,700, and factory wages incurred $94,100. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $37,040 $19,800 A21 45,020 22,600 A22 37,800 16,500 A23 41,370 27,100 General factory use 5,070 8,100 $166,300 $94,100 3. Manufacturing overhead costs incurred on account $51,600. 4. Depreciation on factory equipment...
Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $ 197,000, and factory wages incurred $90,200. 2. Materials requisitioned and factory labor used by job: Job Number A20 A21 A22 A23 General factory use Materials $38,240 44,120 37,600 41,870 4,970 $166,800 Factory Labor $19,500 22,200 15,100 25,800 7,600 $90,200 3. Manufacturing overhead costs incurred on account $51,000. 4. Depreciation on factory equipment $16,850....
Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the hirst quarter production. 1. Materials purchased on account $196,100, and factory wages incurred $92,200. Materials requisitioned and factory labor used by job: 2. Job Number A20 A21 A22 Materials $36.940 44,720 37.800 41,170 4,570 $165,200 Factory Labor $19,900 22,200 15,900 26,400 7,800 $92,200 A23 General factory use 3. 4. 5. Manufacturing overhead costs incurred on account $50,100. Depreciation on factory equipment $16,550....
Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter’s production. 1. Materials purchased on account $ 197,900, and factory wages incurred $ 93,100. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $ 37,740 $ 19,200 A21 44,320 23,600 A22 38,000 15,600 A23 41,770 27,100 General factory use 5,270 $167,100 7,600 $93,100 3. Manufacturing overhead costs incurred on account $ 53,000. 4. Depreciation...
Exercise 15-08 Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $194,400, and factory wages incurred $90,400. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $36,540 $18,100 A21 45,720 22,800 A22 36,800 15,800 A23 40,570 26,200 General factory use 4,870 7,500 $164,500 $90,400 3. Manufacturing overhead costs incurred on account $50,900. 4. Depreciation on factory equipment...
Exercise 15-08 Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $196,300, and factory wages incurred $94,100. 2. Materials requisitioned and factory labor used by job: Factory Labor Job Number A20 A21 A22 A23 General factory use Materials $36,540 44,220 38,100 42,070 5,170 $166,100 $19,500 23,300 16,800 26,600 7,900 $94,100 3. Manufacturing overhead costs incurred on account $52,700. 4. Depreciation on factory equipment...
Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $194,800, and factory wages incurred $91,400 2. Materials requisitioned and factory labor used by job: Job Number A20 A21 A22 A23 General factory use Materials $36,740 45,220 37,600 40,370 4,670 $164.500 Factory Labor $18,100 22,500 16,200 26,200 8,400 $91,100 3. Manufacturing overhead costs incurred on account $51,900. 4. Depreciation on factory equipment $17,350. 5....
Enos Printing Corp.uses a job order cost system. The following data summarize the operations related to the first quarter's production 1 2. Materials purchased on account $195,400, and factory wages incurred $90,400. Materials requisitioned and factory labor used by job: Job Number A20 A21 A22 A23 General factory use Materials $37,540 44,720 36,900 42,170 4,870 $166,200 Factory Labor $18,300 23,500 15,100 25.100 8,400 $90,400 3. 4. 5. Manufacturing overhead costs incurred on account $50,900, Depreciation on factory equipment $17,050. Depreciation...