Instructions 101 algupos botsion 1200 dolari one garwollot adTATOavrupe snJournalize the transactions. (Omit explanations.)E15.8 (LO 1, 2, 3, 4), AP Enos Printing Corp. uses a job order cost system. The following data summarizethe operations related to the first quarter's production.1. Materials purchased on account $192,000, and factory wages incurred $87,300.2. Materials requisitioned and factory labor used by job:10.01.2Job NumberA20A21A22A23General factory useMaterials$ 35,24042,920The 36,10039,2704,470$158,000000,0421H₂Factory Labor$18,000O22,000$215,00025,0007,300$87,300ARSETTO DEprm1818 100 103. Manufacturing overhead costs incurred on account $49,500.4. Depreciation on factory equipment $14,550.5. Depreciation on the company's office building was $14,300.1,5 timo)6. Manufacturing overhead rate is 90% of direct labor cost.inves7. Jobs completed during the quarter: A20, A21, and A23.2125310InstructionsPbne asmadolibus od 10wPrepare entries to record the operations summarized above. Prepare a schedule showing the individualcost elements and total cost for each job in item 7.alaSEo hanolibutan.Prepare erand nonn

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Description: Instructions 101 algupos botsion 1200 dolari one garwollot adTATOavrupe snJournalize the transactions. (Omit explanations.)E15.8 (LO 1, 2, 3, 4), AP Enos Printing Corp. uses a job order cost system. The following data summarizethe operations related

The process of recording business transactions in the books of accounts for the first time is…

Business

Accounting

Journalize the transactions. (Omit explanations.) E15.8 (LO 1, 2, 3, 4), AP 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: Job Number A20 A21 A22 A23 General factory use Materials $ 35,240 42,920 36,100 m 39,270 4,470 $158,000 3. 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. Jim O 6. Manufacturing overhead rate is 90% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23. 21501100 Factory Labor $18,000 22,000 15,000 25,000 7,300 $87,300 Instructions 289901 at adot tipus on how Prepare entries to record the operations summarized above. Prepare a schedule showing the individual cost elements and total cost for each job in item 7.

Journalize the transactions. (Omit explanations.) E15.8 (LO 1, 2, 3, 4), AP 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: Job Number A20 A21 A22 A23 General factory use Materials $ 35,240 42,920 36,100 m 39,270 4,470 $158,000 3. 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. Jim O 6. Manufacturing overhead rate is 90% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23. 21501100 Factory Labor $18,000 22,000 15,000 25,000 7,300 $87,300 Instructions 289901 at adot tipus on how Prepare entries to record the operations summarized above. Prepare a schedule showing the individual cost elements and total cost for each job in item 7.

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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TB MC Qu. 15-121 (Algo) Oxford Company uses a job order... Oxford Company uses a job order costing system. In the last month, the system accumulated labor time tickets totaling $25,500 for direct labor and $5,200 for indirect labor. The journal entry to record indirect labor consists of a: Multiple Choice Debit Factory Overhead $5,200; credit Factory Wages Payable $5,200. Debit Factory Overhead $5,200; credit Work in Process Inventory $5,200. Debit Work in Process Inventory $5,200; credit Factory Wages Payable $5,200. Debit Work in Process Inventory $25,500; credit Factory Wages Payable $25,500. Debit Factory Wages Payable $5,200; credit Cash $5,200.
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3. Asters Co. uses a job order cost system. The following data summarizes the operations related to production for March. Journalize the entries to record the summarized operations. a. Materials purchased on account for $660,000 b. Materials requisitioned, $577,500 of which $73,500 was for general factory use c. Factory labor used, $681,500, of which $95,000 was indirect labor d. Other costs incurred on account were for factory, $154,320; selling expenses, $244,440; and administrative expenses, $152,250 e. Prepaid expenses expired for factory overhead were $30,450; for selling expenses, $25,830; and for administrative expenses, $18,690 f. Depreciation of office building was $88,200; of office equipment, $45,150; and of factory equipment, $30,450 g. Factory overhead costs applied to jobs, $375,500 h. Jobs completed, $871,800 i. Cost of goods sold, $860,000. Selling price of $925,000.
Louisiana Metals uses a job costing system. The company applies manufacturing overhead using a predetermined rate based on direct labor cost. The following debits (credits) appeared in the Work-in-Process Inventory for June. June 1 For the month For the month For the month For the month Balance Direct labor Direct materials Manufacturing overhead To finished goods Beginning inventory ??? $ 33,000 43, 200 19,800 (78,700) Job LM-12, the only job still in production at the end of June, has been charged $13,200 in direct materials cost and $12,400 in direct labor cost. Required: What was the beginning balance in Work-in-Process Inventory?
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Kurtz Fencing Inc. uses a job order cost system. The following data summarize the operations related to production for March, the first month of operations: a. Materials purchased on account, $28,790. b. Materials requisitioned and factory labor used: Job Materials Factory Labor 301 $2,880 $2,910 302 3,690 3,860 303 2,300 1,780 304 7,820 6,990 305 5,310 5,050 306 3,700 3,280 For general factory use 1,070 4,180 c. Factory overhead costs incurred on account, $5,600. d. Depreciation of machinery and equipment, $1,970. e. The factory overhead rate is $53 per machine hour. Machine hours used: Job Machine Hours 301 25 302 34 303 30 304 71 305 42 306 26 Total 228 f. Jobs completed: 301, 302, 303 and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $8,270; Job 302, $11,720; Job 303, $15,730. Required: 1. Journalize the entries to record the summarized…
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