A manufacturer incurred the following actual factory overhead costs: indirect materials, $7,400; indirect labor (factory wages payable $10,200; depreciation on factory equipment, $13,200; factory utilities (utilities payable), $920; and factory insurance expired, $620. Prepare journal entries to record (a) indirect materials, (b) indirect labor, and (c) other actual overhead costs.

A manufacturer incurred the following actual factory overhead costs: indirect materials, $7,400; indirect labor (factory wages payable $10,200; depreciation on factory equipment, $13,200; factory utilities (utilities payable), $920; and factory insurance expired, $620. Prepare journal entries to record (a) indirect materials, (b) indirect labor, and (c) other actual overhead costs.

Name: n.com-Onli... Booking.comBooking.com McAfee Security & Amazon.com - O
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: n.com-Onli... Booking.comBooking.com McAfee Security & Amazon.com - Onli...mework iView transaction listA manufacturer incurred the following actual factory overhead costs: indirect materials, $7,400; indirect labor (factory wages payable),$10,200;

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

Please solve all questions
The following cost data were taken from the records of A Manufacturing Company: Depreciation on factory equipment, P 1,000; Depreciation on sales office, P 500; Advertising, P 7,000; Freight-out (shipping), P 3,000; Wages of production workers, P 28,000; Raw materials used, P 47,000; Sales salaries and commissions, P 10,000; Factory rent, P 2,000; Factory insurance, P 500; Materials handling, P 1,500; administrative salaries, P 2,000. Required: Total manufacturing costs *
XYZ industries applies overhead based on direct labor cost. The follawing information was available for the last year: Actual manufacturing overhead OMR50,000; Underapplied manufacturing overhead OMR10,400; Actual Prime cost OMR52,000; Actual Direct material cost OMR19,000; Estimated direct labor cost OMR29,000. What was the estimated manufacturing overhead for the year? Select one: a None of the answers given b. OMR39,600 C OMR34,800 d OMRI9,600 e OMR37.200
Epolito Corporation incurred $87,000 of actual Manufacturing Overhead costs during September. During the same period, the Manufacturing Overhead applied to Work in Process was $89,000. The journal entry to record the incurrence of the actual Manufacturing Overhead costs would include a: A. debit to Work in Process of $89,000. B. credit to Manufacturing Overhead of $87,000. C. debit to Manufacturing Overhead of $87,000. D. credit to Work in Process of $89,000.
In job costing, the journal entry to record $200 of depreciation expense on factory equipment for the current period involves which of the following? credit to manufacturing overhead for $200 debit to depreciation expense-factory equipment for $200 debit to manufacturing overhead for $200 debit to accumulated depreciation-factory equipment for $200
The Work in Process inventory account of a manufacturing Corporation shows a balance of Rs.30,000 at the end of an accounting period. The job cost sheets of the two uncompleted jobs show charges of Rs. 9,000 and Rs. 5000 for materials, and charges of Rs. 6,000 and Rs. 4,000 for direct labor. From this information, it appears that the Corporation is using a predetermined overhead rate, as a percentage of direct labor costs: Calculate Predetermined over rate?
Othello Manufacturing incurred OMR 117,000 of direct labor and OMR 11,000 of indirect labor. The proper journal entry to record these events would include a debit to Work in Process for:
4. Selwyn's Service applied overhead on the basis of direct labor costs during the current year. Overhead applied as $16,500. Actual overhead incurred was $17,200. Prepare a journal entry to remove this difference from the factory overhead account assuming that it is not material.
Sunland Corporation incurred the following transactions. Purchased raw materials on account $43,550. Raw Materials of $33,840 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,420 was classified as indirect materials. Factory labor costs incurred were $56,320. Time tickets indicated that $50,760 was direct labor and $5,560 was indirect labor. Manufacturing overhead costs incurred on account were $75,670. Depreciation on the company's office building was $7,600. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 1. 2. 3. 4. 5. 6. 8. 9. Goods costing $82,720 were completed and transferred to finished goods. Finished goods costing $70,500 to manufacture were sold on account for $96,820. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Epolito Corporation incurred $87,000 of actual Manufacturing Overhead costs during September. During the same period, the Manufacturing Overhead applied to Work in Process was $89,000. The journal entry to record the incurrence of the actual Manufacturing Overhead costs would include a: A. debit to Work in Process of $89,000. B. credit to Manufacturing Overhead of $87,000. C. debit to Manufacturing Overhead of $87,000. D. credit to Work in Process of $89,000.
Factory Overhead Costs During August, Carrothers Company incurred factory overhead costs as follows: indirect materials, $2,840; indirect labor, $6,920; utilities cost, $1,440; and factory depreciation, $3,600. Journalize the entry to record the factory overhead incurred during August. If an amount box does not require an entry, leave it blank.