Business, 08.07.2021 21:10 maryalice2002

Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35,000. Raw materials purchased on account, $211,000.
Raw materials used in production, $190,000 ($152,000 direct materials and $38,000 indirect materials).
Accrued direct labor cost of $49,000 and indirect labor cost of $21,000.
Depreciation recorded on factory equipment, $105,000.
Other manufacturing overhead costs accrued during October, $129,000.
The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine-hour. A total of 76,400 machine-hours were used in October.
Jobs costing $513,000 according to their job cost sheets were completed during October and transferred to Finished Goods.
Jobs that had cost $452,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 24% above cost.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 20:30

Afactory owner wants his workers to produce as many widgets as they can so he pays his workers based on how many widgets they produce. however, in order to make sure that the workers do not rush and produce a large number of poorly made widgets, he checks the widgets at random at various stages of their manufacture. if a defect is found in a widget, the pay of the entire section of the factory responsible for that defect is docked. how is this factory owner seeking to solve the agency conflict problem in this case?

Answers: 2

Answer

Business, 22.06.2019 11:30

You've arrived at the pecan shellers conference—your first networking opportunity. naturally, you're feeling nervous, but to avoid seeming insecure or uncertain, you've decided to a. speak a little louder than you would normally. b. talk on your cell phone as you walk around. c. hold an empowered image of yourself in your mind. d. square your shoulders before entering the room.

Answers: 2

Answer

Business, 22.06.2019 20:30

Data for hermann corporation are shown below: per unit percent of sales selling price $ 125 100 % variable expenses 80 64 contribution margin $ 45 36 % fixed expenses are $85,000 per month and the company is selling 2,700 units per month. required: 1-a. how much will net operating income increase (decrease) per month if the monthly advertising budget increases by $9,000 and monthly sales increase by $20,000? 1-b. should the advertising budget be increased?

Answers: 1

Answer

Business, 22.06.2019 22:40

Colorado rocky cookie company offers credit terms to its customers. at the end of 2018, accounts receivable totaled $715,000. the allowance method is used to account for uncollectible accounts. the allowance for uncollectible accounts had a credit balance of $50,000 at the beginning of 2018 and $30,000 in receivables were written off during the year as uncollectible. also, $3,000 in cash was received in december from a customer whose account previously had been written off. the company estimates bad debts by applying a percentage of 15% to accounts receivable at the end of the year. 1. prepare journal entries to record the write-off of receivables, the collection of $3,000 for previously written off receivables, and the year-end adjusting entry for bad debt expense.2. how would accounts receivable be shown in the 2018 year-end balance sheet?

Answers: 1

Answer

You know the right answer?

Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions fr...

Questions

Business, 25.02.2021 08:00

TRUE OR FALSE Directions: Read each statement below carefully. Place a T on the line if you think a statement is TRUE. Place an F if the...