As for the payroll, the job No. 301 have incurred direct labor cost of $2500, and 3100 forjob No. 305. The journal entry to record this transaction is:a. Dr. work in-process controlJob No. 301Job No. 305$2500$3100Cr. Wages payable$5600b. Dr. Wages payableCr. work in-process controlJob No. 301Job No. 305$5600$2500$3100c. Dr. Manufacturing overhead control 5600Cr. Wages payable$5600d. None of the aboveabCd

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Description: As for the payroll, the job No. 301 have incurred direct labor cost of $2500, and 3100 forjob No. 305. The journal entry to record this transaction is:a. Dr. work in-process controlJob No. 301Job No. 305$2500$3100Cr. Wages payable$5600b. Dr. Wages p

The journal entries are prepared to keep the record of day to day business transactions.

Business

Accounting

As for the payroll, the job No. 301 have incurred direct labor cost of $2500, and 3100 for job No. 305. The journal entry to record this transaction is: a. Dr. work in-process control Job No. 301 $2500 Job No. 305 Cr. Wages payable $3100 $5600 b. Dr. Wages payable Cr. work in-process control Job No. 301 $5600 $2500 Job No. 305 $3100 c. Dr. Manufacturing overhead control 5600

As for the payroll, the job No. 301 have incurred direct labor cost of $2500, and 3100 for job No. 305. The journal entry to record this transaction is: a. Dr. work in-process control Job No. 301 $2500 Job No. 305 Cr. Wages payable $3100 $5600 b. Dr. Wages payable Cr. work in-process control Job No. 301 $5600 $2500 Job No. 305 $3100 c. Dr. Manufacturing overhead control 5600

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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Job 113 was completed at a cost of $4,800, and Job 85 was completed at a cost of $3,300 and sold on account for $4,500. Prepare journal entries for the following: If an amount box does not require an entry, leave it blank. A. Completion of Job 113. fill in the blank ec5974fe0f8f04b_2 fill in the blank ec5974fe0f8f04b_3 fill in the blank ec5974fe0f8f04b_5 fill in the blank ec5974fe0f8f04b_6 B. Completion and sale of Job 85. fill in the blank ac9efe072f91fff_2 fill in the blank ac9efe072f91fff_3 fill in the blank ac9efe072f91fff_5 fill in the blank ac9efe072f91fff_6 fill in the blank ac9efe072f91fff_8 fill in the blank ac9efe072f91fff_9 fill in the blank ac9efe072f91fff_11 fill in the blank ac9efe072f91fff_12 fill in the blank ac9efe072f91fff_14 fill in the blank ac9efe072f91fff_15 fill in the blank ac9efe072f91fff_17 fill in the blank ac9efe072f91fff_18
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
Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in January: Work in Process Balance, January 1 $17,970 Direct materials 146,100 Direct labor 157,600 Factory overhead 82,840 Jobs finished during January are summarized as follows: Job 210 $72,810 Job 224 $84,950 Job 216 44,500 Job 230 149,670 a. Journalize the entry to record the jobs completed. If an amount box does not require an entry, leave it blank.
Leafon Corporation has two production departments, Casting and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine hours and the Customizing Department's predetermined overhead rate is based on direct labor hours. At the beginning of the current year, the company had made the following estimates: Customizing Casting Machine-hours (MH) 20,000 17,500 Direct labor-hours (DLH) 7,000 9,000 Total Fixed MOH ℗ 175,000 P 165,500 Variable MOH per MH P 2.50 Variable MOH per DLH P 9.00 During the current month, the company started and finished Job Leaf-118. The following data were recorded for this job: Job Leaf-118 Customizing Casting Machine-hours 500 700 Direct labor-hours 100 450 The TOTAL AMOUNT of Overhead Applied to Job Leaf-118 is closest to Note: For interim calculations, use 5 decimal places; ROUND-UP final answer to a whole number.
The Work-in-process inventory consists of the following Job Orders: Job Order No. Direct Materials Direct Labor 18-133 P3,000 P4,000 P3,500 P4,500 18-134 P5,000 P5,000 18-136 During the month, Job Oder Nos. 18-137 and 18- 138 were started. Costs incurred for the period are as follows: Job Order No. Direct Materials Direct Labor P 2,500 P 3,000 P 5,500 P 9,000 18-133 P3,000 P3,000 P4,500 P8,500 18-134 18-136 18-137 18-138 P9,500 P10,500 At the end of the period, only Job Order No. 18- 137 is on hand and Job Order No. 18-138 is incomplete. Normal costing is used. Factory overhead is applied so that it is always 20% of total manufacturing costs. What is the Finished Goods Inventory ending balance?
Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in January: Work in Process Balance, January 1 $11,420 Direct materials 92,840 Direct labor 100,150 Factory overhead 52,650 Jobs finished during January are summarized as follows: Job 210 $46,270 Job 224 $53,980 Job 216 28,280 Job 230 97,680 a. Journalize the entry to record the jobs completed. If an amount box does not require an entry, leave it blank. - Select - - Select - - Select - - Select - b. Determine the cost of the unfinished jobs at January 31.$fill in the blank 14d786ff9fe8ffc_1
Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs: Balance on 3/1 $ 7,500 6,000 $ 13,500 Source documents revealed the following during March: Materials Requisitions Forms $ 3,500 6,000 4,200 1,300 $ 15,000 Work in Process Job 33 Job 34 Labor Time Tickets $ 6,500 7,800 3,250 2,140 $ 19,690 The company applies overhead to products at a rate of 150 percent of direct labor cost. Job 33 Job 34 Job 35 Indirect Required: Prepare journal entries to record the materials requisitions, labor costs, and applied overhead. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. View transaction list Journal entry worksheet 1 2 Transaction a Record the issuance of raw materials to production. Note: Enter debits before credits. 3 Record entry Status of Job at Month-End Completed and sold…
Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in January: Work in Process Balance, January 1 Direct materials Direct labor Factory overhead Jobs finished during January are summarized as follows: Job 210 $69,290 Job 224 $80,830 42,340 Job 230 142,420 Job 216 a. Journalize the entry to record the jobs completed. If an amount box does not require an entry, leave it blank. Finished Goods Work in Process $17,100 139,020 149,970 78,830 Feedback LA Check My Work a. Move the cost of completed jobs out of work in process and into finished goods. b. Determine the cost of the unfinished jobs at January 31.
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Entry for Factory Labor Costs A summary of the time tickets is as follows: Job No. Amount 100 $3,350 2,780 5,090 5,800 17,860 3,540 2,320 15,720 101 104 108 Indirect 111 115 117 Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.
The Cavy Company accumulated 570 hours of direct labor on Job 456 and 810 hours on Job 777. The direct labor was incurred at a rate of $18 per direct labor hour for Job 456 and $21 per direct labor for Job 777. Journalize the entry to record the flow of labor costs into production. fill in the blank 2 fill in the blank 4
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