a. Materials purchased on account, $147,000.b. Materials requisitioned and factory labor used:Job No.101102$19,32023,10013,44038,20010518,05010618,000For general factory use9,000c. Factory overhead costs incurred on account, $6,000.d. Depreciation of machinery and equipment, $4,100.e. The factory overhead rate is $40 per machine hour. Machine hours used:103104Job No.101102103104105106EntriesMachine Hours154160126238Materials160174Factory Labor$19,50028,14014,00036,50015,54018,70020,160Total1,012& Jobs completed: 101, 102, 103, and 105.g. Jobs were shipped and customers were billed as follows: Job 101, $62,900; Job 102, $80,700; Job 105, $45,500.Required:1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.DescriptionDebit000 00Credit

Journal -A journal is a repository for documents where business dealings are documented in the…

101 102 103 104 38,200 105 18,050 106 18,000 For general factory use 9,000 c. Factory overhead costs incurred on account, $6,0 d. Depreciation of machinery and equipment, $4,10 e. The factory overhead rate is $40 per machine ho Job No. 101 102 103 104 105 106 154 160 Entries Machine Hours 126 238 Matera IS 160 174 $19,320 23,100 13,440 Total 1,012 & Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as Required: 1. Journalize the entries to record the summarized Description

101 102 103 104 38,200 105 18,050 106 18,000 For general factory use 9,000 c. Factory overhead costs incurred on account, $6,0 d. Depreciation of machinery and equipment, $4,10 e. The factory overhead rate is $40 per machine ho Job No. 101 102 103 104 105 106 154 160 Entries Machine Hours 126 238 Matera IS 160 174 $19,320 23,100 13,440 Total 1,012 & Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as Required: 1. Journalize the entries to record the summarized Description

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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pp. Subject :- Accounting
3 Kamili Company has the following three manufacturing overhead cost drivers. Cost Driver Design changes Machine setups Electricity usage Level of Activity $2,680 $3,080 $3,260 $1,550 $3,580 $2,860 100 changes per year 2,000 setups per year 12,000 kilowatt-hours per year Overhead Cost $ 5,000 18,000 36,000 Kamili Company started and completed work on 25 different jobs during the year. One of these jobs was Job #781. Job #781 required 16 design changes, 40 machine setups, and 700 kilowatt-hours of electricity. How much manufacturing overhead should be allocated to Job #781? Note: Kamili uses activity-based costing.
direct material in units 97,000 direct labor hourse 30,000 machine hours 26,000 number of set ups 300 number of devices produced 16,000 The 210,000 units of material had a total cost of 1,365,000. Direct labor is 17 per hour. The company has total overhead production cost of 1,850,000 Cost Pool 1. Equipment Maintenance 2. Production Set up 3. Material Handling 4. Transportation Cost Cost driver 1. # of machine hours 2. # of set ups 3. units of materials 4. # of devices produced Cost 1. 585,000 2. 125,000 3. 540,000 4. 600,000 Volume 1. 39,000 2. 900 3. 210,000 4. 24,000 Compute the unit cost.
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Job 210 was unfinished at the end of the accounting period. The total cost assigned to the job was Rs. 12,000 of which Rs. 3,000 was direct material cost. Factory overheads were allocated to goods in process at 150% of direct labor cost. What was the amount of Factory overhead cost charged to Job210? A. Rs. 3,600 B. Rs. 3,000 C. Rs. 5,400 D. Rs. 9,000
TB MC Qu. 6-91 (Algo) Job 731 was recently completed. The following... The following data relates to the production of Product B-09 for the current period: Direct materials $ 3,391 Direct labor-hours 79 labor-hours Direct labor wage rate $ 13 per labor-hour Machine-hours 129 machine-hours The company allocates manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $24 per machine-hour. The total cost for Product B-09 for the current period would be: rev: 08_15_2019_QC_CS-174994 Multiple Choice A) $3,568. B) $6,274. C) $7,514. D) $4,850.
2. The company incurred factory overhead cost as follows: Indirect materials $ 28,300Indirect labor 52,300Factory Utilities cost 6,000Factory Depreciation 10,200Journalize the entry to record the actual factory overhead incurred during February.
Compute Manufacturinh Overhead costs: Electricity for Factory- 15,800 Labor- 31,000 Rent for factory- 23,000 Insurance on factory- 1,400 glass for bulbs- 55,200 cardboard for packaging- 7,000 Is my cost driver Labor 31,000? Wha tare my units? Estimated total Manufacturing overhead?Estimated total hours?
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