F GHI Exercise 10 On April 1st, Manufacturer Co\'s work in process inventory was
ID: 2329001 • Letter: F
Question
F GHI Exercise 10 On April 1st, Manufacturer Co's work in process inventory was $4550; its raw materials inventory was $500; manufacturing overhead had a S300 credit balance. Work in Process Subsidiary Data 4/1: lob Direct Materials Direct Labor $200 $400 $500 74 75 76 $400 $600 $500 Man Overhead $520 $780 650 $1,950 $1,100 $1,500 A. Journalize the following transactions: 41 Check #2522 for $1500 was issued to pay this month's factory rent. 4/3 Invoice #52357 for $200 was received for this month's factory utilities. 4/9 $1400 of raw materials were purchased on account from Vendor Co. 4/15 Depreciation on factory equipment was $150 for the month. 4/20 Check #2523 for S350 was paid for rent on the sales office. 426 Invoice #9623 was received in the amount of $180 for April's factory insurance. Date 1-Apr Account Dr Cr. Manufacturing overhead 1,500 Cash (Ck #2522-Factory Rent) 1,500 3-Apr Manufacturing overhead 200 Accounts payable |(Invoice #52357-Factory Utilities) 200 9-Apr Raw materials inventory 1,400 Accounts payable (Inv #22 Vendor Co-Raw Materials) 1400 15-Apr Manufacturing overhead 150 Accumulated depreciation equip Depreciation Factory Equip) 150 Rent avnenee 2-5 a 6-7 a 10Explanation / Answer
C. Predetermined overhead rate = Estimate manufacturing overhead/Estimated direct materials = $24000/$30000 = 80% of direct materials cost
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Working:
Date Account Debit Credit 30-Apr Work in process inventory (80% X $2000) 1600 Manufacturing overhead 1600 (Apply overhead using PDO)Related Questions
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