Question

3 Award: 1.79 out of 3.33 points Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $181,420. Estimated direct labor cost was $447,760 for 19,300 hours Actual costs for the most recent month are summarized here: Total Cost Item Description Direct labor (1,930 hours) Indirect costs $ 44,777 Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work Factory insurance General and administrative salaries Selling expenses 2,570 3,400 3,210 4,710 5,790 1,260 1,770 4.180 5,310 Required 1., 2. & 3-a. Prepare the journal entries for overhead. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Transaction General Journal Debit Credit Work in Process Inventory Manufacturing Overhead Manufacturing Overhead 447,760 Cash, Payables, etc 447.760 Cost of Goods Sold 44,777 Manufacturing Overhead 44.777 3-b. Does the last transaction increase or decrease Cost of Goods Sold?

It's Simple: Just calulate the numbers that I got wrong. When working on the problem make sure to SHOW me the WORK. Make sure to include formulas it there's any.

Answer 1

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