the reason why factory wages and depreciation is not debited to wages expenses and depreciation expenses.

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Answer 1

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Chapter 19, Problem 19.4CP

(1)

To determine

To explain: the reason why factory wages and depreciation is not debited to wages expenses and depreciation expenses.

(2)

To determine

To explain: the reason as to why J has to accept if they were administrative costs.

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Todd Lay just began working as a cost accountant for Enteron Industries Inc., which manufactures gift items. Todd is preparing to record summary journal entries for the month. Todd begins by recording the factory wages as follows:Wages Expense 60,000 Wages Payable 60,000Then the factory depreciation:Depreciation Expense—Factory Machinery 20,000 Accumulated Depreciation—Factory Machinery 20,000Todd’s supervisor, Jeff Fastow, walks by and notices the entries. The following conversation takes place:Jeff: That’s a very unusual way to record our factory wages and depreciation for the month.Todd: What do you mean? This is the way I was taught in school to record wages and depreciation. You know, debit an expense and credit Cash or payables or, in the case of depreciation, credit Accumulated Depreciation.Jeff: Well, it’s not the credits I’m concerned about. It’s the debits—I don’t…

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During the current month, a company that uses job order costing purchases $76,000 in raw materials for cash. It then uses $20,000 of raw materials indirectly as factory supplies and uses $45,800 of raw materials as direct materials. Prepare journal entries to record these three transactions View transaction list Journal entry worksheet < 2 3 1 Record the raw materials purchase for $76,000, paid in cash. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal

Answer 2

Question

Chapter 19, Problem 19.4CP

(1)

To determine

To explain: the reason why factory wages and depreciation is not debited to wages expenses and depreciation expenses.

(2)

To determine

To explain: the reason as to why J has to accept if they were administrative costs.

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Answer 3

Question

Chapter 19, Problem 19.4CP

(1)

To determine

To explain: the reason why factory wages and depreciation is not debited to wages expenses and depreciation expenses.

(2)

To determine

To explain: the reason as to why J has to accept if they were administrative costs.

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Answer 4

Question

Chapter 19, Problem 19.4CP

(1)

To determine

To explain: the reason why factory wages and depreciation is not debited to wages expenses and depreciation expenses.

(2)

To determine

To explain: the reason as to why J has to accept if they were administrative costs.

Expert Solution & Answer

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Answer 5

Chapter 19, Problem 19.4CP

(1)

To determine

To explain: the reason why factory wages and depreciation is not debited to wages expenses and depreciation expenses.

(2)

To determine

To explain: the reason as to why J has to accept if they were administrative costs.

Answer 6

Chapter 19, Problem 19.4CP

(1)

To determine

To explain: the reason why factory wages and depreciation is not debited to wages expenses and depreciation expenses.

Answer 7

Chapter 19, Problem 19.4CP

(1)

To determine

To explain: the reason why factory wages and depreciation is not debited to wages expenses and depreciation expenses.

Answer 8

(2)

To determine

To explain: the reason as to why J has to accept if they were administrative costs.

Answer 9

(2)

To determine

To explain: the reason as to why J has to accept if they were administrative costs.

Answer 10

Expert Solution & Answer

Answer 11

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Answer 12

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Answer 13

Ch. 19 - a. Name two principal types of cost accounting...Ch. 19 - What kind of firm would use a job order cost...Ch. 19 - Prob. 3DQ Ch. 19 - Prob. 4DQ Ch. 19 - What is a job cost sheet?Ch. 19 - Prob. 6DQ Ch. 19 - Discuss how the predetermined factory overhead...Ch. 19 - a. How is a predetermined factory overhead rate...Ch. 19 - a. What is (1) overapplied factory overhead and...Ch. 19 - Describe how a job order cost system can be used...

the reason why factory wages and depreciation is not debited to wages expenses and depreciation expenses.

Solution Summary: The author explains why factory wages and depreciation aren't debited to wages expenses, and why J has to accept if they're administrative costs.

To explain: the reason why factory wages and depreciation is not debited to wages expenses and depreciation expenses.

To explain: the reason as to why J has to accept if they were administrative costs.

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Chapter 19 Solutions