Question 4 (18 points) Question 4 Unsaved On March 31, 2017, Alpha Corporation r
ID: 2580011 • Letter: Q
Question
Question 4 (18 points) Question 4 Unsaved On March 31, 2017, Alpha Corporation recorded the following factory overhead costs incurred: Factory Manager Salary $6,500 Factory Utilities 2,000 Machinery Deprecation 11,500 Machinery Repairs 1,500 Factory Insurance (prepaid) 500 The overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $21,000 would be incurred, and 10,000 direct labor hours would be worked. During March, 7,100 hours were actually worked on Job Order A-2 and 3,000 hours were actually worked on Job Order A-3. Use this information to prepare the March 31 General Journal entry to record the factory overhead costs. (round any final dollar answers to the nearest whole dollar):
General Journal:
Date
Accounts
Debit
Credit
3/31/17
Date
Accounts
Debit
Credit
3/31/17
Explanation / Answer
Date Accouts Title Debit ($) Credit ($) 3 /31/17 Factory Overhead 22,000 Salary Payable 6,500 Utilities Payable 2,000 Accumulted Deprecation - Machinary 11,500 Machinery Repairs Payable 1,500 Prepaid Factory Insurance 500 (To record factory overhead costs)
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