Case ne ?? a construct nn co m any snedall?inq in ei t m patics. natios ara mnst

Question

Case ne ?? a construct nn co m any snedall?inq in ei t m patics. natios ara mnstne d nt enncrete brid, fherqlass, and lumber, depending en as amer praterenoa. On ? ina·70 17 the ?ana al ledger or Caca ne contains the tn owing da Ran Materials Inentory work n Frocess Inventory 4,40 Menufacturing Overhead Applied 0,2bu Manufacturing Overhead incurred 35,702 Subiciary data for Work in Frocezs Inventory on Junc 1 ar as follows Direct materials pirect lator Manufaturing overhead 578 0 1,017 1,492 $2,27 32,491 tunno lune, raw materials punt ased on arnount aer? $S 537, and all wares were nad Additional overhead casts consisted of depreciation nn ?? ipment $1,0 17 and miscalaneous costs or $452 in0 med on accnunt. A summaryomateriels requisition lips and time tickets for June shows the fuling Customer Materials Requisition Slips $001 2.200 Rodgers 1,356 Radqare 5,537 1.095 57,232 4,059 General use $5,425 Overhead war charqad to fobs at tha same rate o1.25 par dolar or diract labar coat. The patias far customars Rodgars, Stoves, and Linton wera complated durina lune and sold tar a total ot s21,357. Each customer pald in tull. ourmalize the June transactions: 1 or purchase o rar matc al: tacter labor costs ncur ca and man actu ng DVerhead costs incurred; 2; ec gment o drcct materials, labor, and o erhead to p oduction and ndented when amount is entered. Do not Intent Manually. Raund answer decimal places, e.o. 2,500.) 3 compet on c abs and salc of goods roa taccount t es are ??tomat ca y

Explanation / Answer

(a)

Working:

*Manufacturing overheads = 125% of direct labor cost

No. Account Titles and Explanation Debit Credit 1 Raw Materials Inventory 5537 Accounts Payable 5537 (To record purchase of raw materials) Factory Payroll 5425 Cash 5425 (To record factory labor costs paid) Manufacturing overhead 1469 Accumulated depreciation-equipment 1017 Accounts Payable 452 (To record manufacturing overhead costs incurred) 2 Work in process inventory 5537 Manufacturing overhead 1695 Raw Materials Inventory 7232 (To record assignment of direct materials) Work in process inventory 4069 Manufacturing overhead 1356 Factory Payroll 5425 (To record assignment of factory labor) Work in process inventory 5086 Manufacturing overhead (125% x $4069) 5086 (To record assignment of manufacturing overhead) 3 Finished goods inventory 16658 Work in process inventory 16658 (To record completion of jobs) Accounts Receivable 21357 Sales Revenue 21357 (To record sale of goods) Cost of goods sold 16658 Finished goods inventory 16658 (To record the cost of goods sold)

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.