The following data (in thousands) pertain to 2017: A partial listing of costs incurred during December at Rooks Corporation appears below: The following data (in thousands) pertain to 2017: Direct Materials and supplies purchased on credit $800 Direct materials used 710 Indirect materials issued to various production departments 100 Direct manufacturing labor 1,300 Indirect manufacturing labor incurred by various production departments 900 Depreciation on building and manufacturing equipment 400 Miscellaneous manufacturing overhead incurred by various production department 550 Manufacturing overhead allocated at 160% of direct manufacturing labor cost ? Cost of goods manufactured 4,120 Revenues 8,000 Cost of goods sold (before adjustment for under/or/overallocated manufacturing overhead) 4,020 Inventories December 31, 2016 (not 2017) Materials Control 100 Work-in-process control 60 Finished goods control 500 Instructions: Prepare journal entries to summarize the 2017 transactions. As your final entry, dispose of the year-end under-or overallocated manufacturing overhead as a write-off to Cost of Goods Sold
The following data (in thousands) pertain to 2017:
A partial listing of costs incurred during December at Rooks Corporation appears below:
The following data (in thousands) pertain to 2017:
Direct Materials and supplies purchased on credit $800
Direct materials used 710
Indirect materials issued to various production departments 100
Direct manufacturing labor 1,300
Indirect manufacturing labor incurred by various production departments 900
Miscellaneous manufacturing
Manufacturing overhead allocated at 160% of direct
Cost of goods manufactured 4,120
Revenues 8,000
Cost of goods sold (before adjustment for under/or/overallocated manufacturing overhead) 4,020
Inventories December 31, 2016 (not 2017)
Materials Control 100
Work-in-process control 60
Finished goods control 500
Instructions: Prepare
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