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

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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

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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

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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…
Determine the manufacturing overhead of Cleene Company using the following information: • Work in process, ending_P8,000 • Work in process, beginning_P11,000 • Cost of goods manufactured_P70,000 • Direct labor_P25,000 • Direct materials_P20,000
! 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…
Primary Co. allocates factory overhead to jobs based on actual machine hours used. Total overhead for all jobs in May was $1,000,000 and total estimated machine hours for the same period were 12,500. A. Calculate the POHR for May's factory overhead. (Answer Choices: $80/A machine hour, .0125/A Machine hour, $.0125/Overhead Job, $80/Overhead Job) B. Assume Job 898 used 500 machine hours in May. How much overhead should be allocated to this job? C. Actual overhead costs for Job 898 in May were $38,000. Based on your answer to part B, was overhead overapplied or underapplied? By how much?
Sunland Company has the following data: Direct labor Direct materials used Total manufacturing overhead Ending work in process inventory Beginning work in process inventory (a) Compute total manufacturing costs. Total manufacturing costs $71,440 78,960 61,100 28,200 42,300
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
Company A has two manufacturing departments - Department 1 and Department 2. It considers all of its manufacturing overhead costs to be fixed costs. Estimations for the begining of the year is presented in the Table 1. During the year Job 1 was started and completed. Information on Job 1 is provided in the Table 2. Table 1 Items Manufacturing overhead costs (€) Direct labour-hours Machine-hours Department 1 Department 2 Total 1600 1200 2800 100 60 160 20 80 100 Table 2 Items Direct labour-hours Machine-hours Direct materials (€) Direct labour costs (€) Department 1 Department 2 Total 55 15 70 15 30 45 320 740 1060 450 120 570 Company A uses departmental (multiple) predetermined overhead rates with direct labor - hours as the allocation base in Department 1 and machine - hours as the allocation base in Department 2. Compute the predetermined overhead rate of the Department 2.
Subject :- Accounting