YAR RUM Manufacturing Company manufactures specialty, hand-crafted, 16\" x 20\"
ID: 2576348 • Letter: Y
Question
YAR RUM Manufacturing Company manufactures specialty, hand-crafted, 16" x 20" aluminum tal picture frame kits. The company has one production department. In addition to the me production department, there are standard cost system is used by the company. two service departments: electric and factory maintenance. A You have been hired to complete the cost accounting transactions for the month of January 20xx. The following is the post-closing trial balance as of December 31 of the previous year: YARRUM Manufacturing Company Post-Closing Trial Balance December 31, 20xw $132,130.00 81,700.00 30,753.00 1,830.00 51,600.00 58,850.00 9,000.00 128,000.00 Cash Accounts Receivable Materials Factory Supplies Work in Process Finished Goods Prepaid Insurance Factory Building Accum. Depres-Factory Building Machinery & Equipment $20,900.00 157,000.00 66,000.00 Accum. Deprec.-Machinery & Equipment Office Equipment Accum. Deprec.--Office Equipment 21,000.00 7,500.00 22,500.00 3,120.00 5,200.00 1,600.00 1,404.00 364.00 150,000.00 393,275.00 $671,863.00 $671,863.00 Accounts Payable FICA Tax Payable Employee Federal Income Tax Payable Employee WI Income Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable Capital Stock-common@$7.50 Retained Earnings Enter the beginning account balances, as of January 1, in the general ledgerExplanation / Answer
DATE
DETAILS
AMOUNT $
DEBIT A/C
CREDIT A/C
JAN
I
.24 ELECTRICITY DEPT
4291
13588
ELECTRICITY DEPT
.76 PRODUCTION
PRODUCTION
MAINTENANCE
J
TRF OF FACTORY OH TO WORK IN PROGRESS ( NOTE 1) BELOW
33768
WIP @ $11.20
2199=100hrs= 1120
$
001= 1790hrs
$20048
002= 1082hrs
$12118
003= 43hrs
$482
FACTORY OVERHEAD
K
TRF OF UNDER/ OVER EXPENSES
INCOME STATEMENT
FACTORY OH A/C
L
TRF OF VARINACES
COS
VARIANCES
JOB S
M
JOB 16 -0004
WIP
4500 FRAMES
16- 0004
DM
DL
FOH
N
FINISHED GOODS TRF TO COST OF SALES
COST OF
SALES
FINISHED GOODS
J 2199
60434
J 16 001
377953
J 16 -002
111568
O
ACC REC FOR JOB 2198 1000X117.70
117700
ACC REC
SALES
ACC REC FOR JOB 1199
1000 X $106.50
106500
ACC REC
SALES
P
RECEIPTS FROM ACC REC
399440
CASH
ACC REC
Q
PAYMENT OF WAGES
WAGES
WAGES CONTROL
R
PAYMENT FOR ACC PAY
224,000
ACC PAY
CASH
S
PAYMENT FOR MONTH
139,000
MISC S & A
CASH
NOTE
1
FACTORY OVERHEADS
403200/36000 = $11.2X 3015HRS =
33768
OVERHEAD
$
PRODUCTION
SERVICE
ELEC
MAINTENANCE
DEPRECIATION
56250
39375
5625
11250
INSURANCE
9000
6300
900
1800
E. MISC FOH
7160
4802
627
1731
INDRIECT LABOUR
7750
6099
628
1023
FAC SUPP
9203
5780
1340
2075
89363
62356
9120
17879
RE APPORTION
MAINTENANCE
13588
4291
(17879)
0
JOB 00002 $ DL 12930 DM 86520 FOH 12118 111568Related Questions
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