a. Purchased $100,000 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 Job 202 $ 48,200 23,600 71,800 8,620 Total direct materials Indirect materials Total materials used $ 80,420 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 39,200 12,600 51,800 24,200 $ 76,000 d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate of 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. f. Sold Job 201 for $163,760 on credit. g. Incurred the following actual other overhead costs for the month.. Depreciation of factory equipment Rent on factory building (payable) Factory utilities (payable) Expired factory insurance Total other factory overhead costs $32,000 500 800 3,000 $36,300 Prepare journal entries to record the transactions reflected in items a through a

a. Purchased $100,000 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 Job 202 $ 48,200 23,600 71,800 8,620 Total direct materials Indirect materials Total materials used $ 80,420 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 39,200 12,600 51,800 24,200 $ 76,000 d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate of 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. f. Sold Job 201 for $163,760 on credit. g. Incurred the following actual other overhead costs for the month.. Depreciation of factory equipment Rent on factory building (payable) Factory utilities (payable) Expired factory insurance Total other factory overhead costs $32,000 500 800 3,000 $36,300 Prepare journal entries to record the transactions reflected in items a through a

Name: 6a. Purchased $100,000 of raw materials on credit.b. Materials requis
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Description: 6a. Purchased $100,000 of raw materials on credit.b. Materials requisitions show the following materials used for the month.Job 201Job 202Total direct materialsIndirect materialsTotal materials used$ 48,20023,60071,8008,620$ 80,420c. Time tickets sh

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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1. What is the total cost of direct materials requistioned in June? 2. What is the total cost of direct labor used in June? ( please check plagiarism)
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Entries and schedules for unfinished jobs and completed jobs Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations: Materials purchased on account, $147,000. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $ 19,320 $19,500 102 $ 23,100 28,140 103 $ 13,440 14,000 104 $ 38,200 36,500 105 $ 18,050 15,540 106 $ 18,000 18,700 For general factory use $ 9,000 20,160 Factory overhead costs incurred on account, $6,000. Depreciation of machinery and equipment, $4,100. The factory overhead rate is $40 per machine hour. Machine hours used: Job No. Machine Hours 101 154 102 160 103 126 104 238 105 160 106 174 Total 1,012 Jobs completed: 101, 102, 103, and 105. Jobs were shipped, and customers were billed as follows: Job 101, $62,900; Job…
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Required information Skip to question [The following information applies to the questions displayed below.] Information on Kwon Manufacturing’s activities for its first month of operations follows: Purchased $100,100 of raw materials on credit. Materials requisitions show the following materials used for the month. Job 201 $ 48,300 Job 202 23,700 Total direct materials 72,000 Indirect materials 8,720 Total materials used $ 80,720 Time tickets show the following labor used for the month. Job 201 $ 39,300 Job 202 12,700 Total direct labor 52,000 Indirect labor 24,300 Total labor used $ 76,300 Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. Transferred Job 201 to Finished Goods Inventory. (1) Sold Job 201 for $164,060 on credit. (2) Record cost of goods sold for Job 201. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment $ 32,100 Rent on factory building (payable) 510 Factory…
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