Calculator On November 14, the Milling Department accepted Job 111407A for 1,000

Question

Calculator On November 14, the Milling Department accepted Job 111407A for 1,000 pounds of c Standard Qty. 525 pounds 450 pounds 85 pounds 65 pounds 25 quarts 25 gallons Standard Cost $1.25 per pound $1.15 per pound $1.45 per pound $2.15 per pound $1.20 per quart $0.45 per gallon Materials: Oats Wheat Barley Malt Honey Water Time: Miller 4 1/2 hours 1 1/2 hours $22.75 per hour $11.50 per hour Loader Overhead is applied at $5.75 per pound completed. The recipe produced 1,025 pounds o If required, round your answers to the nearest cent. a. Record the journal entry to transfer raw materials to Job 111407A. Nov. 14 b. Record the journal entry for direct labor incurred for Job 111407A Nov, 14 NOPS

Explanation / Answer

(a)

Date

General Journal

Debt

Credit

Nov 14

WIP - Job 111407A

1478

Raw Materials

1478

(525*$1.25)+(450*$1.15)+(85*$1.45)+(65*$2.15)+(25*$1.20)+(25*$0.45)= 1,478

(b)

Date

General Journal

Debt

Credit

Nov 14

WIP - Job 111407A

119.63

Wages Payable/Wages Exp

119.63

(4.5*$22.75)+(1.5*$11.50)= $119.63

(c)

Date

General Journal

Debt

Credit

Nov 14

WIP - Job 111407A

5893.75

Mfr O/H

5893.75

(1,025*$5.75)=$5,893.75)

(d)

Date

General Journal

Debt

Credit

Nov 14

Finished Goods

7491.38

WIP - Job 111407A

7491.38

1,478.00 + $119.63 +$5,893.75 =$7,491.38

Date

General Journal

Debt

Credit

Nov 14

WIP - Job 111407A

1478

Raw Materials

1478

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