2 Martinez Manufacturing incurred $4000 for indirect labor in Department III. The journal entry to recordindirect labor utilized, but not paid is------- Process costing is used.Adebit Manufacturing Overhead, $4000; credit Wages Payable, $4000debit Wages Payable, $4000; credit Manufacturing Overhead, $4000debit Accounts Payable, S4000; credit Manufacturing Overhead, 54000debit Manufacturing Overhead, $4000; credit Accounts Payable, $400O

Name: 2 Martinez Manufacturing incurred $4000 for indirect labor in Departm
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: 2 Martinez Manufacturing incurred $4000 for indirect labor in Department III. The journal entry to recordindirect labor utilized, but not paid is------- Process costing is used.Adebit Manufacturing Overhead, $4000; credit Wages Payable, $4000debit W

Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Business

Accounting

2. Martinez Manufacturing incurred $4000 for indirect labor in Department IL. The journal entry to record indirect labor utilized, but not paid is Process costing is used. ------- debit Manufacturing Overhead, S4000; credit Wages Payable, 54000 debit Wages Payable, S4000; credit Manufacturing Overhead, 54000 debit Accounts Payable, S4000; credit Manufacturing Overhead, 54000 debit Manufacturing Overhead, 54000; credit Accounts Payable, S4000

2. Martinez Manufacturing incurred $4000 for indirect labor in Department IL. The journal entry to record indirect labor utilized, but not paid is Process costing is used. ------- debit Manufacturing Overhead, S4000; credit Wages Payable, 54000 debit Wages Payable, S4000; credit Manufacturing Overhead, 54000 debit Accounts Payable, S4000; credit Manufacturing Overhead, 54000 debit Manufacturing Overhead, 54000; credit Accounts Payable, S4000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

3)The following information is available for completed Job No. 402 Direct materials, $170000; direct labor, $230000; manufacturing overhead applied, S160000; units produced, 5000 units; units sold, 4000 units. The cost of the finished goods on hand from this job is a) $448000. b) $560000. C) $80000. d) $112000.
5.Balmond Manufacturing Company uses the FIFO method of accounting for Raw Materials. Determine the amount charged to work in process for the quarter using the following information * 6.What is the balance of the Raw Materials accounts at the end of the quarter? *
Required information [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Raw materials Work in process Finished goods Beginning of period $ 41,000 9,800 54,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used. Indirect labor used Other overhead costs End of Period $ 37,000 19,700 35,000 $ 197,000 100,000 10,000 23,000 109,000
O'Leary Corporation manufactures special purpose portable structures (huts, mobile offices, and so on) for use at construction sites. It only builds to order (each unit is bult to customer specifications). O'Leary uses a normal job costing system. Direct labor at O'Leary Iis pald $26 per hour, but the employees are not pald If they are not working on Jobs. Manufacturing overhead Is assigned to Jobs by a predetermined rate on the basis of direct labor-hours. The company Incurred manufacturing overhead costs during two recent years (adjusted for price-level changes using current prices and wage rates) as follows. Skipped Year 1 Year 2 Direct labor-hours worked 68, 800 55,800 Manufacturing overhead costs incurred Indirect labor $2,832,000 1,032,000 Employee benefits Supplies $2,232,000 837,000 558, 000 540, 000 688,000 Power 645, eee Heat and light Supervision Depreciation 141,600 661,650 2,036, 580 s05, 250 141,600 781,470 2,036,500 Property taxes and insurance 787,430 Total…
Coat-All Paint Company used a predetermined overhead allocation rate to allocate $85,000 and $50,000 of indirect costs to the Coloring Department and the Mixing Department, respectively. The journal entry to record the allocation of overhead costs to the Coloring Department is Process costing is used. OA. debit Manufacturing Overhead, $50,000; credit Work - in - Process Inventory-Mixing, $50,000 OB. debit Work - in – Process Inventory-Coloring, $85,000; credit Manufacturing Overhead, $85,000 OC. debit Manufacturing Overhead, $85,000; credit Work - in - Process Inventory-Mixing, Ss85,000 D. debit Work- in-Process Inventory-Coloring. $50,000; credit Manufacturing Overhead, $50,000
pp. Subject :- Accounting
ll. Subject : - Accounting
9. The BAM Manufacturing Co. uses a job-order costing system, and it applies factory overhead to production at a pre-determined rate based on direct labor cost. The following account appears in the general ledger: WORK IN PROCESS P 50,000 100,000 80,000 60,000 Finished goods P250,900 Beg. Bal Direct Materials Direct Labor Applied overhead The ending work in process represents the cost of Job# 26 which has been charged with P6,000 of direct labor and the cost of Job # 27 which has been charged with applied factory overhead of P4,800. Total cost of direct materials in the ending work in process was А. Р8,400 В. Р9,000 C. P15,200 D. P17,400 10. A company had the following total usage of direct labor and direct materials Hours Pounds Direct Labor (P8 per hour) 400 Direct Materials (PIO per pound) 300 Incomplete job # 101 has used 20 hours of direct labor and 8 pounds of direct materials. Factory overhead is applied at the rate of 200% per direct labor peso. What is the balance in work in…
Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Raw materials Work in process Finished goods Beginning of period $ 43,000 9,200 63,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs End of Period $ 57,000 18,600 34,300 $ 183,000 150,000 18,000 34,500 98,500 Exercise 15-12 (Algo) Computing materials, labor, overhead, and cost of goods manufactured LO P1, P2, P3, P4 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the…
! Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Beginning of period $ 45,000 9,600 68,000 End of Period Inventories Raw materials Work in process Finished goods $ 45,000 19,000 33,500 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 178,000 250,000 9,000 57,500 115,500 Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. X Answer is not complete. No Transaction General Journal…
2
Subject :- Accounting