View transaction listJournal entry worksheet2 31Record the applied production overhead.Note: Enter debits before credits.TransactionGeneral JournalDebitCredit2Record entryClear entryView general journal Exercise 11-33 Journal Entries for Overhead (Appendix A) (LO 11-8)Crystal Glassware Company has the following standards and flexible-budget data.Standard variable-overhead rate6.00 per direct-labor hour2 hours per unit of outputStandard quantity of direct laborBudgeted fixed overheadBudgeted output$100,00025,000 unitsActual results for April are as follows:Actual outputActual variable overhead20,000 units$320, 000$ 97,000Actual fixed overheadActual direct labor50,000 hoursRequired:Prepare journal entries for the following transactions. (If no entry is required for a transaction/event, select "No journal entryrequired" in the first account field.)• Record the incurrence of actual variable overhead and actual fixed overhead.• Add variable and fixed overhead to Work-in-Process Inventory.• Close underapplied or overapplied overhead into Cost of Goods Sold.View transaction listJournal entry worksheet23>Record the incurrence of actual variable overhead and actual fixedoverhead.Note: Enter debits before credits.TransactionGeneral JournalDebitCreditRecord entryClear entryView general journal

A journal is a company's official book in which all business transactions are recorded in…

Crystal Glassware Company has the following standards and flexible-budget data. 6.00 per direct-labor hour 2 hours per unit of output Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $100,000 25,000 units Actual results for April are as follows: 20,000 units $320,000 $ 97,000 50,000 hours Actual output Actual variable overhead Actual fixed overhead Actual direct labor Required: Prepare journal entries for the following transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) • Record the incurrence of actual variable overhead and actual fixed overhead. • Add variable and fixed overhead to Work-in-Process Inventory. • Close underapplied or overapplied overhead into Cost of Goods Sold. View transaction list Journal entry worksheet 1 2 3 > Record the incurrence of actual variable overhead and actual fixed overhead. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal

Crystal Glassware Company has the following standards and flexible-budget data. 6.00 per direct-labor hour 2 hours per unit of output Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $100,000 25,000 units Actual results for April are as follows: 20,000 units $320,000 $ 97,000 50,000 hours Actual output Actual variable overhead Actual fixed overhead Actual direct labor Required: Prepare journal entries for the following transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) • Record the incurrence of actual variable overhead and actual fixed overhead. • Add variable and fixed overhead to Work-in-Process Inventory. • Close underapplied or overapplied overhead into Cost of Goods Sold. View transaction list Journal entry worksheet 1 2 3 > Record the incurrence of actual variable overhead and actual fixed overhead. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal

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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