Kingston manufacturing has the solve this question Kingston Manufacturing has the following labor costs:Factory Gross wagesFactory Net wages$390,000320,000Employer Payroll Taxes Payable 90,000The entry to record the cost of factory labor and the associated payroll taxexpense will include a debit to Factory Labor for:A. $340,000.B. $440,000.C. $370,000.D. $480,000.

Step 1: Define Manufacturing OverheadManufacturing overhead is an indirect production cost related…

Answered: Kingston Manufacturing has the…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 4CDQ: How would each of the following costs be classified if units produced is the activity base? a....

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K Rios Corporation reports costs for the year as follows: Direct Materials Used Wages to Line Workers Office Rent Indirect Materials Used How much is the total product costs for the year? A. $605,000 OB. $1,155,000 OC. $550,000 OD. $1,199,500 $430,000 120,000 44,500 605,000
Foc
Subject: Cost management & accounting QUESTION – 13.The payroll records of the Weber Company show payments for labor of Rs. 400,000, of which Rs. 80,000 is indirect labor. Materials requisitions show Rs. 300,000 for materials used, of which Rs. 280,000 represents direct materials. Other manufacturing expenses total Rs. 124,000. Finished goods on hand at the end of the period are stated at cost, Rs. 176,000, of which Rs. 40,000 is direct materials cost. Factory overhead is allocated on the basis of direct labor cost.REQUIRED:The amount of direct labor and the amount of factory overhead in Finished Goods
Gensource Company provided the following information from its accounting records for 2021: Estimated production 60,000 labor hours Actual production 56,000 labor hours Estimated overhead $1,800,000 Actual overhead $1,740,000 How much is the predetermined overhead rate if the Company bases it on direct labor hours? Select one: O a. $29.00 per hour b. $32.14 per hour c. $30.00 per hour d. $31.07 per hour
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Peacock Ltd.'s production cost for August are: Particulars Amount Direct Labor Indirect Labor Direct Materials Property Taxes on Production equipment Heat, Light and Power Insurance on Plant and Equipment 15,000 8,000 32,000 1,200 2,500 500 Calculate Peacock Ltd.'s factory overheads for August. a. Factory overheads for August are $21,500 b. Factory overheads for August are $12,200 c. Factory overheads for August are $27,200 d. Factory overheads for August are $30,000
actory Labor S98,000, a credit to Employer Payroll Taxes Payable $3,000 and a credit to Factory Wages Payable $95,000 None of the above Time tickets indicated 900 labor hours in the production of Job .115, out of which 600 were direct labor hours. The company pays $8 per each labor hour. The entry to record this transaction is: * A debit to Work in Process Inventory $4,800, a debit to manufacturing overhead $2,400, and a credit to Factory Labor $7,200 O A debit to Work in Process Inventory $7,200 and a credit to Factory Labor $7,200 A debit to Factory Labor $4,800, a debit to manufacturing overhead $2.400, and a credit to Work in Process Inventory $7,200 None of the above
a. Incurred $105,000 of direct labor in its Mixing department and $90,000 of direct labor in its Shaping department. Hint. Credit Factory Wages Payable. b. Incurred indirect labor of $23,000. Hint. Credit Factory Wages Payable. View transaction list Journal entry worksheet
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The following information pertains to Whitestone Industries for the year: Estimated total overhead costs Estimated direct labor costs Actual direct labor costs Actual overhead costs Activity base $37,500 25,000 22,500 36,000 Direct labor costs What is the predetermined overhead rate for Whitestone Industries for the year? Oa. 62.5% Ob. 66.7% Oc. 150% Od. 160%
EA17. 5.5 Prepare the journal entry to record the factory wages of $28,000 incurred for a single production department assuming payment will be made in the next pay period.

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