Homework Help is Here – Start Your Trial Now!
Business
Accounting
A B M R 3. Jan. 11: Purchased leather materials for bags on account for $76,000 4. Raw Materials Accounts payable $ 76,000 6. $ 76,000 7. 10 Jan 14: Issued materials (S43,500) to production which included leather materials ($40,000) to specific jobs and bag cleaning materials ($3,500) to general production. 11 Work in Progress 43,500 12 Raw materials Manufacturing Overhead 13 $ 40,000 $ 3,500 3,500 14 15 16 17 Jan 21: Payroll costs were incurred as follows: $18,000 for stitching assembly workers, $9,000 for factory supervisors, $15,000 for salespersons. 18 Work in Progress S 18,000 19 Manufacturing Overhead 9,000 Selling expense Salaries payable 20 $ 15,000 21 ###### 22 23 24 Jan 31: Recorded depreciation: $1,200 for production building and $1,800 for office building. 25 Manufacturing Overhead $ 1,200 26 Depreciation Expense 1,800 Accumulated depreciation 27 3,000 28 29 30 31 Jan 31: Applied manufacturing overhead at a rate of 25% of direct material cost used in production. 32 33 34 35 36 37 38 What is the a mount of overapplied or underapplied manufacturing overhead related to the above transactions? 39 Select one 40 41 42 43 Key 1a 1b Ready 曲 KBEGIVEINCINI ERINI RC DELIWN MEHHHESPEVIEP DIUWY PTH Priva When finished, make sure to click Submit. Optionally, click Save as Draft to save changes and continue working later, or click Cancel to qu Tern

A B M R 3. Jan. 11: Purchased leather materials for bags on account for $76,000 4. Raw Materials Accounts payable $ 76,000 6. $ 76,000 7. 10 Jan 14: Issued materials (S43,500) to production which included leather materials ($40,000) to specific jobs and bag cleaning materials ($3,500) to general production. 11 Work in Progress 43,500 12 Raw materials Manufacturing Overhead 13 $ 40,000 $ 3,500 3,500 14 15 16 17 Jan 21: Payroll costs were incurred as follows: $18,000 for stitching assembly workers, $9,000 for factory supervisors, $15,000 for salespersons. 18 Work in Progress S 18,000 19 Manufacturing Overhead 9,000 Selling expense Salaries payable 20 $ 15,000 21 ###### 22 23 24 Jan 31: Recorded depreciation: $1,200 for production building and $1,800 for office building. 25 Manufacturing Overhead $ 1,200 26 Depreciation Expense 1,800 Accumulated depreciation 27 3,000 28 29 30 31 Jan 31: Applied manufacturing overhead at a rate of 25% of direct material cost used in production. 32 33 34 35 36 37 38 What is the a mount of overapplied or underapplied manufacturing overhead related to the above transactions? 39 Select one 40 41 42 43 Key 1a 1b Ready 曲 KBEGIVEINCINI ERINI RC DELIWN MEHHHESPEVIEP DIUWY PTH Priva When finished, make sure to click Submit. Optionally, click Save as Draft to save changes and continue working later, or click Cancel to qu Tern

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
fill in missing t account
A B M R 3. Jan. 11: Purchased leather materials for bags on account for $76,000 4. Raw Materials Accounts payable $ 76,000 6. $ 76,000 7. 10 Jan 14: Issued materials (S43,500) to production which included leather materials ($40,000) to specific jobs and bag cleaning materials ($3,500) to general production. 11 Work in Progress 43,500 12 Raw materials Manufacturing Overhead 13 $ 40,000 $ 3,500 3,500 14 15 16 17 Jan 21: Payroll costs were incurred as follows: $18,000 for stitching assembly workers, $9,000 for factory supervisors, $15,000 for salespersons. 18 Work in Progress S 18,000 19 Manufacturing Overhead 9,000 Selling expense Salaries payable 20 $ 15,000 21 ###### 22 23 24 Jan 31: Recorded depreciation: $1,200 for production building and $1,800 for office building. 25 Manufacturing Overhead $ 1,200 26 Depreciation Expense 1,800 Accumulated depreciation 27 3,000 28 29 30 31 Jan 31: Applied manufacturing overhead at a rate of 25% of direct material cost used in production. 32 33 34 35 36 37 38 What is the a mount of overapplied or underapplied manufacturing overhead related to the above transactions? 39 Select one 40 41 42 43 Key 1a 1b Ready 曲 KBEGIVEINCINI ERINI RC DELIWN MEHHHESPEVIEP DIUWY PTH Priva When finished, make sure to click Submit. Optionally, click Save as Draft to save changes and continue working later, or click Cancel to qu Tern
Transcribed Image Text:A B M R 3. Jan. 11: Purchased leather materials for bags on account for $76,000 4. Raw Materials Accounts payable $ 76,000 6. $ 76,000 7. 10 Jan 14: Issued materials (S43,500) to production which included leather materials ($40,000) to specific jobs and bag cleaning materials ($3,500) to general production. 11 Work in Progress 43,500 12 Raw materials Manufacturing Overhead 13 $ 40,000 $ 3,500 3,500 14 15 16 17 Jan 21: Payroll costs were incurred as follows: $18,000 for stitching assembly workers, $9,000 for factory supervisors, $15,000 for salespersons. 18 Work in Progress S 18,000 19 Manufacturing Overhead 9,000 Selling expense Salaries payable 20 $ 15,000 21 ###### 22 23 24 Jan 31: Recorded depreciation: $1,200 for production building and $1,800 for office building. 25 Manufacturing Overhead $ 1,200 26 Depreciation Expense 1,800 Accumulated depreciation 27 3,000 28 29 30 31 Jan 31: Applied manufacturing overhead at a rate of 25% of direct material cost used in production. 32 33 34 35 36 37 38 What is the a mount of overapplied or underapplied manufacturing overhead related to the above transactions? 39 Select one 40 41 42 43 Key 1a 1b Ready 曲 KBEGIVEINCINI ERINI RC DELIWN MEHHHESPEVIEP DIUWY PTH Priva When finished, make sure to click Submit. Optionally, click Save as Draft to save changes and continue working later, or click Cancel to qu Tern
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Merchandise Inventory
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS