Homework Answers
Cost of goods sold (Job 120)
| Beginning work in process (8700+3700+3330) | 15730 |
| Direct material | 2800 |
| Direct labor | 3100 |
| Overhead (3100*90%) | 2790 |
| Total | 24420 |
Journal entry
| No | Transaction | General Journal | Debit | Credit |
| 5 | E | Cost of goods sold | 24420 | |
| Finished goods inventory | 24420 | |||
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I don't know part 5
Prepare journal entries for the above transactions in July. No Transaction...
2. Prepare journal entries for the month of April to record the above transactions Need helf...
2.
Prepare journal entries for the month of April to record the above
transactions
Need helf with f2,f3,f4
(The following information applies to the questions displayed below.) Marcelino Co's March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is...
Prepare summary Journal entries to record the following transactions for a company in its first month...
Prepare summary Journal entries to record the following transactions for a company in its first month of operations 00:52:15 a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37.000. Indirect materials used in production, $12,000 c. Pald cash for factory payroll, $35.000. Or this total, $25,000 is for direct labor and $10,000 is for indirect labor d. Pald cash for other actual overhead costs, $7.000. e. Applied overhead at the rate of 120% of direct labor...
how do i calculate? Prepare summary journal entries to record the following transactions for a company...
how do i calculate?
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $102,000. b. Direct materials used in production, $42,500. Indirect materials used in production, $15,000. c. Paid cash for factory payroll, $55,000. Of this total, $37,000 is for direct labor and $18,000 is for indirect labor. d. Paid cash for other actual overhead costs, $8,375. e. Applied overhead at the rate of 125%...
Prepare summary journal entries to record the following transactions for a company in its first month...
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37,000. Indirect materials used in production, $12,000. c. Paid cash for factory payroll, $35,000. Of this total, $25,000 is for direct labor and $10,000 is for indirect labor. d. Paid cash for other actual overhead costs, $7,000. e. Applied overhead at the rate of 120% of direct labor cost....
Prepare journal entries for the month of April to record the above transactions Required information [The...
Prepare journal entries for the month of April to record the above
transactions
Required information [The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct...
For the journal entries listed below select the activity that requires their use Dr. Raw Materials...
For the journal entries listed below select the activity that requires their use Dr. Raw Materials Choose. Cr. Accounts Payable Dr. Work In Process Choose... Cr.Raw Materials Dr. Manufacturing Overhead Choose... Cr. Raw Materials Dr. Manufacturing Ovhd Choose... Cr. Factory Wages Payable Dr. Work In Process Choose... Cr. Factory Wages Payable Dr. Manufacturing Ovhd Choose Cr. Accumulated Depreciation Dr. Manufacturing Ovhd Choose. Cr. Accounts Payable Dr. Work In Process Choose... Cr. Manufacturing Overhead Dr. Finished Goods Choose.. Cr. Work In...
how do i calculate g1 and g2? Prepare summary journal entries to record the following transactions...
how do i calculate g1 and g2?
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $102,000. b. Direct materials used in production, $42,500. Indirect materials used in production, $15,000. c. Paid cash for factory payroll, $55,000. Of this total, $37,000 is for direct labor and $18,000 is for indirect labor. d. Paid cash for other actual overhead costs, $8,375. e. Applied overhead at the...
I need all of the journal entries and the second part. Thanks Custom Cabinetry has one...
I need all of the journal entries and the second part.
Thanks
Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $7,700, direct labor of $3,200, and applied overhead of $2,880. Custom Cabinetry applies overhead at the rate of 90% of direct labor cost. During July, Job 120 is sold (on account) for $29,500, Job 121 is started and completed, and Job 122 is started...
2. Prepare journal entries for the month of April to record the above transactions Required information...
2.
Prepare journal entries for the month of April to record the above
transactions
Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $88.000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in Aprilare: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities. $23,000; and facto ctory utilities. $23,000: and factory equipment depreciation, $57,000. The predetermined overhead...
1. Prepare Journal entries to record the transaction given above Ravsten Company uses a job-order costing...
1. Prepare Journal entries to record the transaction given
above
Ravsten Company uses a job-order costing system on January 1, the beginning of the current year, the company's inventory balances were as follows: .. Raw Materials ................... Work in Process.. Finished Goods .. $16,000 $10,000 $30,000 The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 36,000 machine-hours and incur $153,000 in manufacturing overhead cost. The following...
2.
Prepare journal entries for the month of April to record the above
transactions
Need helf with f2,f3,f4
(The following information applies to the questions displayed below.) Marcelino Co's March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is...
Prepare summary Journal entries to record the following transactions for a company in its first month of operations 00:52:15 a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37.000. Indirect materials used in production, $12,000 c. Pald cash for factory payroll, $35.000. Or this total, $25,000 is for direct labor and $10,000 is for indirect labor d. Pald cash for other actual overhead costs, $7.000. e. Applied overhead at the rate of 120% of direct labor...
how do i calculate?
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $102,000. b. Direct materials used in production, $42,500. Indirect materials used in production, $15,000. c. Paid cash for factory payroll, $55,000. Of this total, $37,000 is for direct labor and $18,000 is for indirect labor. d. Paid cash for other actual overhead costs, $8,375. e. Applied overhead at the rate of 125%...
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $80,000. b. Direct materials used in production, $37,000. Indirect materials used in production, $12,000. c. Paid cash for factory payroll, $35,000. Of this total, $25,000 is for direct labor and $10,000 is for indirect labor. d. Paid cash for other actual overhead costs, $7,000. e. Applied overhead at the rate of 120% of direct labor cost....
Prepare journal entries for the month of April to record the above
transactions
Required information [The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct...
For the journal entries listed below select the activity that requires their use Dr. Raw Materials Choose. Cr. Accounts Payable Dr. Work In Process Choose... Cr.Raw Materials Dr. Manufacturing Overhead Choose... Cr. Raw Materials Dr. Manufacturing Ovhd Choose... Cr. Factory Wages Payable Dr. Work In Process Choose... Cr. Factory Wages Payable Dr. Manufacturing Ovhd Choose Cr. Accumulated Depreciation Dr. Manufacturing Ovhd Choose. Cr. Accounts Payable Dr. Work In Process Choose... Cr. Manufacturing Overhead Dr. Finished Goods Choose.. Cr. Work In...
how do i calculate g1 and g2?
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $102,000. b. Direct materials used in production, $42,500. Indirect materials used in production, $15,000. c. Paid cash for factory payroll, $55,000. Of this total, $37,000 is for direct labor and $18,000 is for indirect labor. d. Paid cash for other actual overhead costs, $8,375. e. Applied overhead at the...
I need all of the journal entries and the second part.
Thanks
Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $7,700, direct labor of $3,200, and applied overhead of $2,880. Custom Cabinetry applies overhead at the rate of 90% of direct labor cost. During July, Job 120 is sold (on account) for $29,500, Job 121 is started and completed, and Job 122 is started...
2.
Prepare journal entries for the month of April to record the above
transactions
Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $88.000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in Aprilare: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities. $23,000; and facto ctory utilities. $23,000: and factory equipment depreciation, $57,000. The predetermined overhead...
1. Prepare Journal entries to record the transaction given
above
Ravsten Company uses a job-order costing system on January 1, the beginning of the current year, the company's inventory balances were as follows: .. Raw Materials ................... Work in Process.. Finished Goods .. $16,000 $10,000 $30,000 The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 36,000 machine-hours and incur $153,000 in manufacturing overhead cost. The following...
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