A summary of material requisition slips and time tickets, along with the overhead allocation, show the following costs: Factory Material Labor Requisition Time Overhead Job No. Slips Tickets Applied 131 $505 $200 $60 132 255 240 72 133 405 200 60 134 330 320 96 Not job specific 80 160 $1,575 $1,120 $288 A. Prepare an entry to record the assignment of direct material to work in process. If an amount box does not require an entry, leave it blank. B. Prepare an entry to record the assignment of direct labor to work in process. If an amount box does not require an entry, leave it blank. C. Prepare an entry to record the assignment of manufacturing overhead to work in process. If an amount box does not require an entry, leave it blank. 88 Accounts Payable Factory Wages Payable Manufacturing Overhead Raw Materials Inventory Work in Process Inventory

A summary of material requisition slips and time tickets, along with the overhead allocation, show the following costs: Factory Material Labor Requisition Time Overhead Job No. Slips Tickets Applied 131 $505 $200 $60 132 255 240 72 133 405 200 60 134 330 320 96 Not job specific 80 160 $1,575 $1,120 $288 A. Prepare an entry to record the assignment of direct material to work in process. If an amount box does not require an entry, leave it blank. B. Prepare an entry to record the assignment of direct labor to work in process. If an amount box does not require an entry, leave it blank. C. Prepare an entry to record the assignment of manufacturing overhead to work in process. If an amount box does not require an entry, leave it blank. 88 Accounts Payable Factory Wages Payable Manufacturing Overhead Raw Materials Inventory Work in Process Inventory

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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The journal entry to record the Labor Time Tickets includes a debit to the Manufacturing Overhead account of what dollar amount? Materials Labor Requisition Time For Slips Tickets Job No. 429 $ 3,500 $ 4,400 Job No. 430 2,600 3,400 Job No. 431 3,400 4,200 Job No. 432 3,000 4,000 Sub-Total 12,500 16,000 General Use 1,000 1,500 Total Cost $ 13,500 17,500 $17,500 $1,500 $16,000 $13,500
Harper Company uses a job order cost system. Journalize the entries for materials and labor, based on the following data:Raw materials issued: Job No. 609, $850; for general use in factory, $600Labor time tickets: Job No. 609, $1,600; $400 for supervision If an amount box does not require an entry, leave it blank. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15 fill in the blank 17 fill in the blank 18
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ple predetermined overhead rates The job cost sheet records which of the following. costs? (check all that apply) 03:10 20:38 Actual direct material Estimated direct material Actual direct labor Estimated direct labor Actual overhead Estimated overhead SUBMIT 10 + > CC " F
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Manufacturing cost data for Cullumber Company, which uses a job - order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labour cost and the rate is the same.
provide correct answer otherwise i give unhelpfull rates
I think I'm doing this wrong but for unfinished jobs do I not add materials, labor, and overhead and the subtract the completed jobs from it?
Prepare the journal entry for (a) materials and (b) labor, based on the following: Raw materials issued: $850 for Job 609 $300 for general use in the factory Labor time tickets: $900 for Job 609 $325 for supervision
Factory Overhead Rates and Account Balances Prostheses Industries operates two factories. The manufacturing operations of Factory 1 are m e intensive, while the manufacturing operations of Factory 2 are labor intensive. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Factory 1 Estimated factory overhead cost for fiscal year beginning August 1 Estimated direct labor hours for year Estimated machine hours for year Actual factory overhead costs for August Actual direct labor hours for August Actual machine hours for August 1,730 a. Determine the factory overhead rate for Factory 1. Round your answer to the nearest cent. per machine hour $887,200 Factory 2 22,180 $70,930 $1,049,400 15,900 $90,600 1,430 b. Determine the factory overhead rate for Factory 2. Round your answer to the nearest cent. per direct labor…