a. Incurred $105,000 of direct labor in its Mixing department and $90,000 of direct labor in its Shaping department. Hint Credit Factory Wages Payable. b. Incurred indirect labor of $23,000. Hint. Credit Factory Wages Payable. View transaction list Journal entry worksheet < 1 Record direct labor used, but not yet paid. 2 Note: Enter debits before credits. Transaction a General Journal Debit Credit >

a. Incurred $105,000 of direct labor in its Mixing department and $90,000 of direct labor in its Shaping department. Hint Credit Factory Wages Payable. b. Incurred indirect labor of $23,000. Hint. Credit Factory Wages Payable. View transaction list Journal entry worksheet < 1 Record direct labor used, but not yet paid. 2 Note: Enter debits before credits. Transaction a General Journal Debit Credit >

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 purchase of $24,110 of raw materials is a. Materials$24,110 Accounts Receivable$24,110 b. Materials$24,110 Accounts Payable$24,110 c. Inventory$24,110 Accounts Receivable$24,110 d. Inventory$24,110 Cash$24,110
Chapter 19, Question 2. Second image is possible answers
Journalize the entry to record the issuance of materials. If an amount box does not requires an entry from the picture leave it blank. account payable account receivable cash finished Goods material work in process
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View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. In January, Oriole Tool & Die requisitions raw materials for production as follows: Job 1 $970, Job 2 $1,700, Job 3 $730, and general factory use $620. Prepare a summary journal entry to record raw materials used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 31 Account Titles and Explanation Work in Process Inventory Manufacturing Overhead Raw Materials Inventory Debit $3,040 $630 Credit
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Info in images 2. Post your entries to T-accounts. (Don’t forget to enter the beginning inventory balances above.) Accounts Receivable Sales Beg. Bal. Beg. Bal. End. Bal. End. Bal. Raw Materials Cost of Goods Sold Beg. Bal. Beg. Bal. End. Bal. End. Bal. Work in Process Manufacturing Overhead Beg. Bal. Beg. Bal. End. Bal. End. Bal. Finished Goods Advertising Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accumulated Depreciation Utilities Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accounts Payable Salaries Expense Beg. Bal.…
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[The following information applies to the questions displayed below.] Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication. The company provided the following estimates at the beginning of the year: Molding 22,000 $ 720,000 $ 4.00 Fabrication Total Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 32,000 $ 220,000 $ 1.50 54,000 $ 940,000 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs-Job D-70 and Job C-200. It provided the following information related to those two jobs: Molding $ 370,000 $ 220,000 13,000 Job D-70 Direct materials cost Fabrication Total Direct labor cost Machine-hours $ 320,000 $ 180,000 $ 690,000 $ 400,000 22,000 9,000 Molding $ 300,000 $ 140,000 Job C-200 Fabrication Total $ 280,000 $ 240,000 23,000 $ 580,000 $ 380,000 32, 00ө Direct materials cost Direct labor cost Machine-hours 9,000 Delph…
3. Prepare journal entries for the month of April to record the above transactions. View transaction list View journal entry worksheet No 2 3 4 5 6 7 Transaction b. C. d. e. 1. 9. Direct materials used Direct labor used Cash Indirect labor Indirect labor Cash Factory overhead Overapplied overhead Underapplied overhead Factory building Cash Utilities expense Utilities payable General Journal Debit Credit