FUNDAMENTAL ACCOUNTING PRINCIPLES
24th Edition
ISBN: 9781264044375
Author: Wild
Publisher: McGraw-Hil
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Textbook Question
Chapter 19, Problem 6E
Exercise 19-6
Recording events in job order costing
P1 P2 P3 P4
Using Exhibit 19.15 as a guide, prepare summary
a. Raw materials purchased on account, $90,000.
b. Direct materials used in production, $36,500. Indirect materials used in production, $19,200.
c. Paid cash for factory payroll, $50,000. Of this total, $38,000 is for direct labor and $ 12,000 is for indirect labor.
d. Paid cash for other actual
e. Applied overhead at the rate of 125% of direct labor cost.
f. Transferred
g. Sold jobs on account for $82,000. The jobs had a cost of $56,800.
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Exercise 15-18 (Algo) Recording transactions in job order costing LO P1, P2, P3, P4
Prepare journal entries to record transactions a through h.
Raw materials purchased on credit, $100,000.
Direct materials used, $42,000. Indirect materials used, $15,000.
Direct labor used, $36,000. Indirect labor used, $14,000. (Record using Factory Wages Payable.)
Paid cash for other actual overhead costs, $8,250.
Applied overhead at the rate of 120% of direct labor cost.
Transferred cost of jobs completed to finished goods, $68,175.
Sales of jobs on credit was $97,000.
Cost of jobs sold was $68,175.
Looking to get assistance solving the required steps for Problem 19-1B. Any help is appreciated!
Problem 19-4A (Algo) Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO
P1, P2, P3
[The following information applies to the questions displayed below.]
Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities
during May follows.
a. Purchased raw materials on credit, $220,000.
b. Materials requisitions record use of the following materials for the month.
Job 136
Job 137
Job 138
Job 139
$ 48,500
34,000
19,400
23,000
7,200
132,100
Job 140
Total direct materials
Indirect materials
Total materials requisitions
21,500
$ 153,600
c. Time tickets record use of the following labor for the month. These wages were paid in cash.
Job 136
Job 137
Job 138
Job 139
Job 140
Total direct labor
Indirect labor
Total labor cost
$ 12,100
10,600
37,700
39,400
3,600
103,400
26,000
$ 129,400
d. Applied overhead to Jobs 136, 138, and 139.
e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory.
f. Sold Jobs 136…
Chapter 19 Solutions
FUNDAMENTAL ACCOUNTING PRINCIPLES
Ch. 19 - Prob. 1DQCh. 19 - Some companies use labor cost to apply factory...Ch. 19 - Prob. 3DQCh. 19 - In a job order costing system, what records serve...Ch. 19 - What journal entry is recorded when a materials...Ch. 19 - Prob. 6DQCh. 19 - Google uses a "time ticket" for some employees....Ch. 19 - What events cause debits to be recorded in the...Ch. 19 - Prob. 9DQCh. 19 - Assume that Apple produces a batch of 1,000...
Ch. 19 - 11. Why must a company use predetermined overhead...Ch. 19 - How would a hospital apply job order costing?...Ch. 19 - Harley-Davidson manufactures 30 custom-made,...Ch. 19 - Prob. 14DQCh. 19 - Jobs and job lots C1 Determine which of the...Ch. 19 - Job cost sheets C2 Clemens Cars's job cost sheet...Ch. 19 - Documents in job order costing P1 P2 P3 The left...Ch. 19 - Raw materials journal entries P1 During the...Ch. 19 - Prob. 5QSCh. 19 - Prob. 6QSCh. 19 - Prob. 7QSCh. 19 - Prob. 8QSCh. 19 - Prob. 9QSCh. 19 - Prob. 10QSCh. 19 - Prob. 11QSCh. 19 - Prob. 12QSCh. 19 - Jab order costing of services A1 An advertising...Ch. 19 - Job order costing of services A1 An advertising...Ch. 19 - Job cost sheet C2 Eco Skate makes skateboards from...Ch. 19 - Exercise 19-1 Job order production C1 Match each...Ch. 19 - Exercise 19-2 Job cost computation C2 The...Ch. 19 - Exercise 19-3 Analysis of cost flows C2 As of the...Ch. 19 - Exercise 19-4 Recording product costs P1 P2 P3...Ch. 19 - Exercise 19-5 Manufacturing cost flows P1 P2 P3...Ch. 19 - Exercise 19-6 Recording events in job order...Ch. 19 - Exercise 19-7 Cost flows in a jab order costing...Ch. 19 - Exercise 19-8 Journal entries for materials P1 Use...Ch. 19 - Exercise 19-9 Journal entries for labor P2 Use...Ch. 19 - Exercise 19-10 Journal entries for overhead P3 Use...Ch. 19 - Exercise 19-11 Overhead rate; costs assigned to...Ch. 19 - Exercise 19-12 Analyzing costs assigned to work in...Ch. 19 - Exercise 19-13 Adjusting factory overhead P4 Refer...Ch. 19 - Exercise 19-14 Adjusting factory overhead P4...Ch. 19 - Prob. 15ECh. 19 - Prob. 16ECh. 19 - Exercise 19-17 Overhead rate calculation,...Ch. 19 - Exercise 19-18 Job order costing for services A1...Ch. 19 - Exercise 19-19 Job order costing of services A1...Ch. 19 - Exercise 19-20 Direct materials journal entries P1...Ch. 19 - Problem 19-1A Production costs computed and...Ch. 19 - Problem 19-2 A Source documents, journal entries,...Ch. 19 - Prob. 3APSACh. 19 - Prob. 4APSACh. 19 - Problem 19-5A Production transactions, subsidiary...Ch. 19 - Problem 19-1B Production costs computed and...Ch. 19 - Prob. 2BPSBCh. 19 - Prob. 3BPSBCh. 19 - Problem 19-4B Overhead allocation and adjustment...Ch. 19 - Problem 19-5B Production transactions, subsidiary...Ch. 19 - The computer workstation furniture manufacturing...Ch. 19 - The General Ledger tool in Connect automates...Ch. 19 - Manufacturers and merchandisers can apply...Ch. 19 - Prob. 2AACh. 19 - Apple and Samsung compete in the global...Ch. 19 - Assume that your company sells portable housing to...Ch. 19 - Assume that you are preparing for a second...Ch. 19 - Prob. 3BTNCh. 19 - Consider the activities undertaken by a medical...Ch. 19 - Refer to the chapter opener regarding Brennan...Ch. 19 - Prob. 6BTN
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