Enos Printing Corp. uses a job order cost system. The following data summarize theoperations related to the first quarter's production.1. Materials purchased on account $192,000, and factory wages incurred $87,300.2. Materials requisitioned and factory labor used by job: Job NumberMaterialsFactory LaborA20$ 35,240$18,00022,00015,00025,000A2142,92036,100A22A2339,270General factory use4,4707,300$158,000$87,3003. Manufacturing overhead costs incurred on account $49,500.4. Depreciation on factory equipment $14,550.5. Depreciation on the company's office building was $14,300.6. Manufacturing overhead rate is 90% of direct labor cost.7. Jobs completed during the quarter: A20, A21, and A23.Prepare entries to record the operations summarized above. (Prepare a schedule showingthe individual cost elements and total cost for each job in item 7.)

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Description: Enos Printing Corp. uses a job order cost system. The following data summarize theoperations related to the first quarter's production.1. Materials purchased on account $192,000, and factory wages incurred $87,300.2. Materials requisitioned and fact

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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 $192,000, and factory wages incurred $87,300. 2. Materials requisitioned and factory labor used by job:

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 $192,000, and factory wages incurred $87,300. 2. Materials requisitioned and factory labor used by job:

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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