Journal entries: | ||||||||
No. | Accounts title and explanation | Debit | Credit | |||||
1 | Raw material inventory | 90000 | ||||||
Accounts payable | 90000 | |||||||
2 | Factory Labouor | 70000 | ||||||
Wages payable | 54000 | |||||||
Payroll taxes payable | 16000 | |||||||
3 | Manufacturing Overheads | 65000 | ||||||
Raw material inventory | 17000 | |||||||
Factory Labour | 20000 | |||||||
Accumulated depreciation | 12000 | |||||||
Accounts payable | 16000 | |||||||
4 | Work in process Inventory | 189000 | ||||||
Raw material inventory (10000+39000+30000) | 79000 | |||||||
Factory Labour (5000+25000+20000) | 50000 | |||||||
Manufacturing overheads (50000*120%) | 60000 | |||||||
Note: Pre-determined OH based on DLC hs been computed as 120% of DLC in last part solved. | ||||||||
lott Com any i SR; A nh Ontercost sys enn and ap iles ถ Grhead to...
lott Com any i SR; A nh Ontercost sys enn and ap iles ถ Grhead to producton on the bask of dirart lahar ro ts. n 1anuary 1 2017 en Nn 5n was the only b ǐn pro se The cnsts incurred priar o נanuary 1 on rls ob ere as tolla s: direct materials sn nn direct lab t $12 nan and man tach ng avertead $16,000. s of anuary 1, ob No. 49 had been completed at a...
lott Com any i SR; A nh Ontercost sys enn and ap iles ถ Grhead to producton on the bask of dirart lahar ro ts. n 1anuary 1 2017 en Nn 5n was the only b ǐn pro se The cnsts incurred priar o נanuary 1 on rls ob ere as tolla s: direct materials sn nn direct lab t $12 nan and man tach ng avertead $16,000. s of anuary 1, ob No. 49 had been completed at a...
lott Com any i SR; A nh Ontercost sys enn and ap iles ถ Grhead to producton on the bask of dirart lahar ro ts. n 1anuary 1 2017 en Nn 5n was the only b ǐn pro se The cnsts incurred priar o נanuary 1 on rls ob ere as tolla s: direct materials sn nn direct lab t $12 nan and man tach ng avertead $16,000. s of anuary 1, ob No. 49 had been completed at a...
Lott Cum any uses a」ob urder cost systern and applies overhead to production on the basis o direct labor cuts. On January 1 2017, Job No 50 as the only JUO n process. The costs incurred pr r o January 1 on his job Were as follows: diet materials $22 400, direct labur 13,440 and manufacturing overhead $17,920 As of January 1, Job No. 49 had been cumpleted at cust uf $100,800 and was part uffinished ouds nventory. There was...