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FINANCIAL ACCOUNTING
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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6. EX Job C e. The factory overhead rate is $50 per machine hour. Machine hours used: Job No. Machine Hours 20X50= 10OD HSXSO=3 850! 19x50=950 L09x50=3,45050 36x50=1,80O 4200 101 20 102 45 103 19 104 69 105 36 4x50='1,2DO TO,050 106 24 Total 213 f. Jobs completed: 101, 102, 103, and 105. P50 + 277ot 1350+3870=16,040 g. Jobs were shipped and customers were billed as follows: Job 101, $7,740; Job 102, $11,000; Job 105, 2,050+ 3870=8, 690 2,770+ 33390 equired: De Journalize the entries to record the summarized operations. If an amount box does not require an entry k. DebitCredit es Description
Transcribed Image Text:6. EX Job C e. The factory overhead rate is $50 per machine hour. Machine hours used: Job No. Machine Hours 20X50= 10OD HSXSO=3 850! 19x50=950 L09x50=3,45050 36x50=1,80O 4200 101 20 102 45 103 19 104 69 105 36 4x50='1,2DO TO,050 106 24 Total 213 f. Jobs completed: 101, 102, 103, and 105. P50 + 277ot 1350+3870=16,040 g. Jobs were shipped and customers were billed as follows: Job 101, $7,740; Job 102, $11,000; Job 105, 2,050+ 3870=8, 690 2,770+ 33390 equired: De Journalize the entries to record the summarized operations. If an amount box does not require an entry k. DebitCredit es Description
Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations: a. Materials purchased on account, $2,820. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $3,400 $2,050 2,770 17,580 +29,860 =49),440 47,440+1,1eo+ 3030=51, 102 4,150 103 2,750 1,350 29,860 104 9,320 5,080 105 5,920 3,870 106 4,320 2,460 For general factory use 1,160 3,030 c. Factory overhead costs incurred on account, $6,490. d. Depreciation of machinery and equipment, $1,460.
Transcribed Image Text:Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations: a. Materials purchased on account, $2,820. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $3,400 $2,050 2,770 17,580 +29,860 =49),440 47,440+1,1eo+ 3030=51, 102 4,150 103 2,750 1,350 29,860 104 9,320 5,080 105 5,920 3,870 106 4,320 2,460 For general factory use 1,160 3,030 c. Factory overhead costs incurred on account, $6,490. d. Depreciation of machinery and equipment, $1,460.
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