Question

please help with these please i am so confused. please do all them. thank you.

14. The basis for recording direct and indirect labor costs incurred is a summary of the period a job order cost sheets b. time tickets c. employees' earnings records d clock cards 15. At the end of the fiscal year, the balance in Factory Overhead is small. This balance would normally be: a. transferred to Work in Process b. transferred to Cost of Goods Sold c. transferred to Finished Goods d. allocated between Work in Process and Finished Goods 10. Selected accounts with some debits and credits omitted are presented as follows: Work in Process 275,000 Aug. 31 Goods finished 1,030,000 Aug. 1 31 31 31 Balance Direct materials Direct labor Factory overhead 450,000 Aug. 1-31 Costs incurred Factory Overhead 145,000 Aug, 1 31 15,000 Balance Applied (30% of direct labor cost) If the balance of Work in Process at August 31 is $220,000, what was the amount debited to Work in Proce for direct materials in August? a. $390,000 b. $170,000 c. $525,000 d. $580,000

Answer 1

Ans: The correct option for the answer is option B i.e. Time tickets.

Ans: The correct option for the answer is option B i.e transferred to cost of goods sold.

Ans:The correct option for the answer is option A i.e. 390,000

Overhead applied= 30% of direct labor

= 30% of $450,000

=$ 135,000

Total manufacturing costs= 1,030,000+220,000-275,000

= 975,000

Amount debited to work in process for direct materials =975,000-135,000-450,000

=390,000