Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
6th Edition
ISBN: 9780134486857
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 17, Problem 24E
Journalize the following transactions for Marge’s Sofas. Explanations are not required.
- a. Incurred and paid Web site expenses, $2,000.
- b. Incurred manufacturing wages of $15,000, 75% of which was direct labor and 25% of which was indirect labor.
- c. Purchased raw materials on account, $24,000.
- d. Used in production: direct materials, $7,500; indirect materials, $5,000.
- e. Recorded manufacturing
overhead :depreciation on plant, $18,000; plant insurance (previously paid), $1,500; plant property tax, $3,900 (credit Property Tax Payable). - f. Allocated manufacturing overhead to jobs, 200% of direct labor costs.
- g. Completed production on
jobs with costs of $40,000. - h. Sold inventory on account, $22,000; cost of goods sold, $18,000.
- i. Adjusted for overallocated underallocated overhead.
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ournalize the following transactions for Becah's Bakery:
Becah's Bakery
a. Incurred and paid Website expenses, $2,760.
b. Incurred manufacturing wages of $10,100, of which 70% was for direct labor and 30% of which was for indirect labor.
c. Purchased raw materials on account, $19,180.
d. Used in production: direct materials, $8,020; indirect materials $3,720.
e. Recorded manufacturing overhead: depreciation on plant, $14,150; plant insurance (previously paid), $1,340; plant property tax, $3,670 (credit Property Tax Payable).
f. Allocated manufacturing overhead to jobs, 230% of direct labor costs.
g. Completed production on jobs with costs of $36,770.
h. Sold inventory on account, $26,680; cost of goods sold, $12,230.
i. Adjusted for overallocated or underallocated overhead.
ournalize the following transactions for Becah's Bakery:
Becah's Bakery
a. Incurred and paid Website expenses, $2,610.
b. Incurred manufacturing wages of $10,900, of which 70% was for direct labor and 30% of which was for indirect labor.
c. Purchased raw materials on account, $18,040.
d. Used in production: direct materials, $7,970; indirect materials $3,630.
e. Recorded manufacturing overhead: depreciation on plant, $14,190; plant insurance (previously paid), $1,440; plant property tax, $3,650 (credit Property Tax Payable).
f. Allocated manufacturing overhead to jobs, 230% of direct labor costs.
g. Completed production on jobs with costs of $35,580.
h. Sold inventory on account, $25,980; cost of goods sold, $12,650.
i. Adjusted for overallocated or underallocated overhead.
Journalize the following transactions for Becah's Bakery:Becah's Bakery
a. Incurred and paid Website expenses, $2,920.
b. Incurred manufacturing wages of $10,900, of which 80% was for direct labor and 20% of which was for indirect labor.
c. Purchased raw materials on account, $18,130.
d. Used in production: direct materials, $8,100; indirect materials $3,670.
e. Recorded manufacturing overhead: depreciation on plant, $14,410; plant insurance (previously paid), $1,460; plant property tax, $3,720 (credit Property Tax Payable).
f. Allocated manufacturing overhead to jobs, 230% of direct labor costs.
g. Completed production on jobs with costs of $35,240.
h. Sold inventory on account, $25,040; cost of goods sold, $12,310.
i. Adjusted for overallocated or underallocated overhead.
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Chapter 17 Solutions
Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Prob. 6TICh. 17 - Record the following journal entries for Smith...Ch. 17 - Prob. 8TICh. 17 - Prob. 9TICh. 17 - Prob. 10TI
Ch. 17 - Prob. 11TICh. 17 - Prob. 12TICh. 17 - The following information pertains to Smith...Ch. 17 - Prob. 14TICh. 17 - Prob. 15TICh. 17 - Prob. 16TICh. 17 - Wesson Company is a consulting firm. The firm...Ch. 17 - Prob. 18TICh. 17 - Would an advertising agency use job order or...Ch. 17 - Prob. 2QCCh. 17 - When a manufacturing company uses indirect...Ch. 17 - When a manufacturing company uses direct labor, it...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - A manufacturing company completed work on a job....Ch. 17 - For which of the following reasons would David...Ch. 17 - Why do managers need to know the cost of their...Ch. 17 - What types of companies use job order costing...Ch. 17 - What types of companies use process costing...Ch. 17 - What is the purpose of a job cost record?Ch. 17 - Explain the difference between cost of goods...Ch. 17 - A job was started on May 15, completed on June 27,...Ch. 17 - Give the journal entry for raw materials purchased...Ch. 17 - What is the purpose of the raw materials...Ch. 17 - How does the use of direct and indirect materials...Ch. 17 - Prob. 10RQCh. 17 - Give five examples of manufacturing overhead...Ch. 17 - What is the predetermined overhead allocation...Ch. 17 - What is an allocation base? Give some examples.Ch. 17 - How is manufacturing overhead allocated to jobs?Ch. 17 - A completed job cost record shows the unit cost of...Ch. 17 - Prob. 16RQCh. 17 - Give the journal entry for the completion of a...Ch. 17 - Prob. 18RQCh. 17 - Explain the difference between underallocated...Ch. 17 - If a company incurred 5,250 in actual overhead...Ch. 17 - Prob. 21RQCh. 17 - Explain the terms accumulate, assign, allocate,...Ch. 17 - Prob. 23RQCh. 17 - Prob. 24RQCh. 17 - Would the following companies most likely use job...Ch. 17 - Prob. 2SECh. 17 - Analyze the following T-accounts to determine the...Ch. 17 - Prob. 4SECh. 17 - Oak Outdoor Furniture manufactures wood patio...Ch. 17 - Job 303 includes direct materials costs of 550 and...Ch. 17 - Calculating predetermined overhead allocation...Ch. 17 - Lincoln Company completed jobs that cost 38,000 to...Ch. 17 - Columbus Enterprises reports the following...Ch. 17 - The T-account showing the manufacturing overhead...Ch. 17 - Adjusting Manufacturing Overhead Justice Companys...Ch. 17 - Prob. 12SECh. 17 - Prob. 13SECh. 17 - Prob. 14SECh. 17 - Prob. 15ECh. 17 - Defining terminology Match the following terms to...Ch. 17 - Prob. 17ECh. 17 - Goldenrod Company makes artificial flowers and...Ch. 17 - Selected cost data for Classic Print Co. are as...Ch. 17 - Prob. 20ECh. 17 - Prob. 21ECh. 17 - Prob. 22ECh. 17 - Jordan Company has the following information for...Ch. 17 - Journalize the following transactions for Marges...Ch. 17 - Prob. 25ECh. 17 - Analyze the following T-accounts, and determine...Ch. 17 - Prob. 27ECh. 17 - Clement Manufacturing makes carrying cases for...Ch. 17 - Ki Technology Co. manufactures DVDs for computer...Ch. 17 - Superior Construction, Inc. is a home builder in...Ch. 17 - Accounting for manufacturing overhead Prestige...Ch. 17 - Mighty Stars produces stars for elementary...Ch. 17 - Bluebird Design, Inc. is a Web site design and...Ch. 17 - Sutherland Manufacturing makes carrying cases for...Ch. 17 - Ye Technology Co. manufactures DVDs for computer...Ch. 17 - Meadow Construction, Inc. is a home builder in...Ch. 17 - Accounting for manufacturing overhead Elegant...Ch. 17 - Hero Stars produces stars for elementary teachers...Ch. 17 - Skylark Design, Inc. is a Web site design and...Ch. 17 - Accounting for manufacturing overhead This problem...Ch. 17 - Granite Construction Incorporated is a major...Ch. 17 - Hiebert Chocolate, Ltd. is located in Memphis. The...Ch. 17 - Prob. 1FC
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