Selected accounts with some amounts omitted are as follows Work in Process Aug. 1 Balance 252,300 Aug. 31 Goods finished 171,900 31 Direct materials X 31 Direct labor 45,300 31 Factory overhead X Factory Overhead Aug. 1 – 31 Costs incurred 116,200 Aug. 1 Balance 12,600 31 Applied X If the balance of Work in Process on August 31 is $191,300, what was the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs?

Selected accounts with some amounts omitted are as follows Work in Process Aug. 1 Balance 252,300 Aug. 31 Goods finished 171,900 31 Direct materials X 31 Direct labor 45,300 31 Factory overhead X Factory Overhead Aug. 1 – 31 Costs incurred 116,200 Aug. 1 Balance 12,600 31 Applied X If the balance of Work in Process on August 31 is $191,300, what was the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 9EA: A new company started production. Job 10 was completed, and Job 20 remains in production. Here is...

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The following data summarize the operations during the year. Prepare a journal entry for each transaction. A. Purchase of raw materials on account: $1,500 B. Raw materials used by Job 1: $400 C. Raw materials used as indirect materials: $50 D. Direct labor for Job 1: $200 E. Indirect labor Incurred for Job 1: $30 F. Factory utilities Incurred on account: $500 G. Adjusting entry for factory depreciation: $200 H. Manufacturing overhead applied as percent of direct labor: 100% I. Job 1 is transferred to finished goods J. Job 1 is sold: $1,000 K. Manufacturing overhead is under applied: $100
OReilly Manufacturing Co.s cost of goods sold for the month ended July 31 was 345,000. The ending work in process inventory was 90% of the beginning work in process inventory. Factory overhead was 50% of the direct labor cost. No indirect materials were used during the period. Other information pertaining to OReillys inventories and production for July is as follows: Required: 1. Prepare a statement of cost of goods manufactured for the month of July. (Hint: Set up a statement of cost of goods manufactured, putting the given information in the appropriate spaces and solving for the unknown information. Start by using cost of goods sold to solve for the cost of goods manufactured.) 2. Prepare a schedule to compute the prime cost incurred during July. 3. Prepare a schedule to compute the conversion cost charged to Work in Process during July.
The Following events occurred during March for Ajax Company. Prepare a journal entry for each transaction. Materials were purchased on account for $5,429. Materials were requisitioned to begin work on Job C15 In the amount of $2,500. Direct labor expense for job C15 was $4,250. Actual overhead was incurred on account for $5,385. Factory overhead was charged w Job C15 at the rate of 200% direct labor. Job C15 was transferred to finished goods at $15,250. Job C15 was sold on account for $28,000.
Selected information from Skylar Studios shows the following: Prepare journal entries to record the following: raw material purchased direct labor incurred depreciation expense (hint: this is part of manufacturing overhead) raw materials used overhead applied on the basis of $0.50 per machine hour the transfer from department 1 to department 2
Selected accounts with amounts omitted are as follows Work in Process Aug. 1 Balance 269,610 Aug. 31 Goods finished 176,760 31 Direct materials X 31 Direct labor 36,300 31 Factory overhead X Factory Overhead Aug. 1 – 31 Costs incurred 109,360 Aug. 1 Balance 12,070 31 Applied (30% of direct labor cost) X If the balance of Work in Process on August 31 is $199,160, what was the amount debited to Work in Process for direct materials in August? a.$59,120 b.$328,310 c.$505,070 d.$106,750
Selected accounts with amounts omitted are as follows Work in Process Aug. 1 Balance 279,350 Aug. 31 Goods finished 171,180 31 Direct materials X 31 Direct labor 33,600 31 Factory overhead X Factory Overhead Aug. 1 – 31 Costs incurred 115,090 Aug. 1 Balance 15,610 31 Applied (30% of direct labor cost) X If the balance of Work in Process on August 31 is $206,820, what was the amount debited to Work in Process for direct materials in August? a. $54,970 b. $106,130 c. $519,770 d. $348,590
selected accounts with amounts omitted are as follows Work in Process Aug. 1 Balance 254,580 Aug. 31 Goods finished 178,220 31 Direct materials X 31 Direct labor 35,400 31 Factory overhead X Factory Overhead Aug. 1 – 31 Costs incurred 96,830 Aug. 1 Balance 14,490 31 Applied (30% of direct labor cost) X If the balance of Work in Process on August 31 is $217,140, what was the amount debited to Work in Process for direct materials in Augus?
Selected accounts with amounts omitted are as follows Work in Process Aug. 1 Balance 266,720 Aug. 31 Goods finished 135,920 31 Direct materials X 31 Direct labor 35,900 31 Factory overhead X Factory Overhead Aug. 1 – 31 Costs incurred 113,500 Aug. 1 Balance 12,290 31 Applied (30% of direct labor cost) X If the balance of Work in Process on August 31 is $219,290, what was the amount debited to Work in Process for direct materials in August? a.$385,990 b.$521,910 c.$83,330 d.$41,820 The journal entry to record the purchase of $39,313 of raw materials is a. Materials$39,313 Accounts Receivable$39,313 b. Inventory$39,313 Cash$39,313 c. Inventory$39,313 Accounts Receivable$39,313 d. Materials$39,313 Accounts Payable$39,313 All of the following could be considered a direct material except a.fabric b.glue c.steel d.lumber
Selected accounts with amounts omitted are as follows Work in Process Aug. 1 Balance 256,170 Aug. 31 Goods finished 186,160 31 Direct materials 31 Direct labor 36,800 31 Factory ovenrhead Factory Overhead Aug. 1- 31 Costs incurred 118,890 Aug. 1 Balance 13,960 31 Applied (30% of direct labor cost) If the balance of Work in Process on August 31 is $212,300, what was the amount debited to Work in Process for direct materials in August? Oa. $94,450 Ob. $319,110 Oc. $80,670 Od. $505,270
Selected accounts with amounts omitted are as follows: Work in Process 263,340 Aug. 31 X 34,100 Aug. 1 31 31 31 Balance Direct materials Direct labor Factory overhead Aug. 1-31 Costs incurred Factory Overhead 98,540 Aug. 1 31 Goods finished Balance Applied (30% of direct labor cost) 142,970 12,530 X If the balance of Work in Process on August 31 is $204,810, what was the amount debited to Work in Process for direct materials in August? Oa. $92,630 Ob. $359,280 Oc. $502,250 Od. $40,110
Selected accounts with some amounts omitted are as follows: Work in Process Aug. 1 Balance 264,800 Aug. 31 Goods finished 129,400 31 Direct materials X 31 Direct labor 43,700 31 Factory overhead X Factory Overhead Aug. 1 – 31 Costs incurred 95,600 Aug. 1 Balance 12,800 31 Applied X If the balance of Work in Process on August 31 is $218,800, what was the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs? a. $13,110 b. $95,600 c. $129,400 d. $12,800
Selected accounts with amounts omitted are as follows: Work in Process 266,230 Aug. 31 Aug. 1 31 31 31 Balance Direct materials Direct labor Factory overhead Aug. 1-31 Costs incurred X 35,400 Factory Overhead 118,780 Aug. 1 31 Goods finished Balance Applied (30% of direct labor cost) 133,400 13,060 X If the balance of Work in Process on August 31 is $192,710, what was the amount debited to Work in Process for direct materials in August? < O a. $108,920 O b. $494,340 O c. $13,860 O d. $360,940