Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $194,300, and factory wages incurred $91,000 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $36,540 $18,800 A21 45,120 22,700 A22 36,200 15,700 A23 40,470 25,400 General factory use 5.470 8,400 $163,800 $91.000 3. Manutacturing overhead costs incurred on account $54,100, 4. Depreciation on factory equipment $16,450. 5. Depreciation on the company's office bulding was $15.300 6. Manufacturing overhead rate is 87% of direct labor cost 7. Jobs completed during the quarter A20, A21, and A23. Prepare a schedule showing the Individual cost elements and totalcost for each job in Item 7

Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $194,300, and factory wages incurred $91,000 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $36,540 $18,800 A21 45,120 22,700 A22 36,200 15,700 A23 40,470 25,400 General factory use 5.470 8,400 $163,800 $91.000 3. Manutacturing overhead costs incurred on account $54,100, 4. Depreciation on factory equipment $16,450. 5. Depreciation on the company's office bulding was $15.300 6. Manufacturing overhead rate is 87% of direct labor cost 7. Jobs completed during the quarter A20, A21, and A23. Prepare a schedule showing the Individual cost elements and totalcost for each job in Item 7

Name: Enos Printing Corp. uses a job order cost system. The following data
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter'sproduction.1.Materials purchased on account $194,300, and factory wages incurred $91,0002Materials requisitioned and factory

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

O'Connell Corporation had the following transactions for its job order costing operation. Apr. 4 Purchased materials on account, $17,000. 7 Direct materials requisitioned to production, Job No. 106, $15,800. 12 Direct labor, Job No. 106, $15,200. 16 Indirect materials (factory overhead) requisitioned to production, $3,300. 22 Indirect labor (factory overhead), $2,400. 28 Other indirect costs (factory overhead, credit Accounts Payable), $2,700. Prepare general journal entries to record these transactions. GENERAL JOURNAL Page 1 Date Description PostRef. Debit Credit
What is the Direct labor cost for Job 707?
Sheffield Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production 2. Materials purchased on account $194.300, and factory wages incurred $91,000 Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $36.540 $18,800 A21 45.120 22,700 A22 36,200 15.700 A23 40.470 25,400 General factory use 5.470 8,400 $163,800 $91,000 3. Manufacturing overhead costs incurred on account $54,100. 4. Depreciation on factory equipment $16,450. 5. Manufacturing overhead rate is 87% of direct labor cost. 6. Jobs completed during the quarter: A20, A21, and A23. Record the operations summarized above. (Enter negative amounts using either a negative sign preceding the number eg-45 or parentheses eg(45)) Raw Materials Inventory 194300 1. Purchased raw materials 1. Incurred factory labor Manufacturing Costs Factory Labor Manufacturing Overhea
Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of the current year follow: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $ 16,700 5,800 20,500 The following transactions occurred during January: a. Purchased materials on account for $26,100. b. Issued materials to production totaling $21,000, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. c. Payroll costs totaling $18,300 were recorded as follows: $10,900 for assembly workers $1,900 for factory supervision $2,200 for administrative personnel $3,300 for sales commissions d. Recorded depreciation: $4,700 for factory machines, $1,300 for the copier used in the administrative office. e. Recorded $1,500 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative…
How much is total cost of goods manufactured? A company uses job order costing. At the beginning of February, two jobs were in process: Job 769 Job 772 Materials P4,000 P1,400 2,000 3,000 There was no inventory of finished goods on February 1. During the month, Jobs 773, 774, 776, 778 and 779 were started. Materials requisitions for February totaled P26,000, direct labor cost, P20,000 and actual factory overhead, P32,000. Factory overhead is applied at a rate of 150% of direct labor cost. The only job still in process at the end of February is job 779, with a materials cost of P2,800 and direct labor cost of P1,800. Job 776, the only finished job on hand at the end of the Direct Labor 600 Applied Factory Overhead 900 month, has a total cost of P4,000.
Please solve I need help !
Logan makes an annual salary of $41,875 he is paid bi-weekly. What is his gross pay? And calculate his net pay?
Boat Corporation uses a job order cost system and applies overhead based on a percentage of direct labor cost Cost flows through the Work in Process Inventory account during March are given below: Work in Process Debit Credit Beginning Balance Transferred Out 257,400 Direct Materials 60,000 Direct Labor 103,000 Overhead 185,400 Ending Balance 91.000 Only Job #007 was still in process at the end of March and this job had been charged with $49,000 in direct materials cost The amount of direct materials cost charged to completed jobs during March was
Waterway Company uses a job order cost system. On May 1, the company has balances in Raw Materials Inventory of $15,700 and Work in Process Inventory of $4,140 and two jobs in process: Job No. 429 $2,450, and Job No. 430 $1,690. During May, the company incurred factory labor of $15,150. A summary of source documents reveals the following. Job Number 429 430 General use Show 431 Job No. 430 431 S Materials Requisition Slips $ $2.920 3.610 4,870 $11.400 Direct Material $12,360 Waterway Company applies manufacturing overhead to jobs at an overhead rate of 70% of direct labor cost. Job No. 429 is completed during the month. 960 Prove the agreement of the Work in Process Inventory control account with the job cost sheets. Beginning Work in Process Labor Time Tickets $2,160 3,360 8,030 $ $ $13.550 Job Cost Sheets 1,600 $15.150 Direct Labor Prove the agreement of the Work in Process Inventory control account with the job cost sheets. Direct Material Job Cost Sheets Direct Labor $…
PAMELA Manufacturing Company uses a job order cost system. The following debits (credits) appeared in Work in Process for the month of August: August 1 P40,500 Charges during August: Direct materials 243,000 Direct labor 162,000 Factory overhead 129,600 Debits to Finished goods 486,000 PAMELA Manufacturing applies overhead to production at a predetermined rate of 80% of direct labor cost Job XXX, which was started during August and is the only job still in process at the end of August, has been charged direct labor of P20,250. The amount of direct materials charged to Job XXX is
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…
Penn Company uses a job order cost accounting system. In the last month, the system accumulated labor time tickets totaling $32,000 for direct labor and $6,400 for indirect labor. These costs were accumulated in Factory Payroll as they were paid. Which entry should Penn make to assign the Factory Payroll? General Journal Debit Credit (A) Payroll Expense 38,400 Cash 38,400 (B) Payroll Expense 32,000 Factory Overhead 6,400 Factory Payroll 38,400 Goods in Process Inventory 32,000 Factory Overhead 6,400 Factory Payroll 38,400 32,000 Goods in Process Inventory Factory Overhead 6,400 Accrued Wages Payable 38,400 38,400 Goods in Process Inventory Factory Payroll 38,400 F6 (C) (D) E) Option A F2 F3 :0+ F4 63 F5 N % F7 다 F8 F9 El ★