Horngren's Accounting: The Managerial Chapters, Student Value Edition (12th Edition)
12th Edition
ISBN: 9780134491509
Author: MILLER-NOBLES, Tracie L., Mattison, Brenda L., Matsumura, Ella Mae
Publisher: PEARSON
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Chapter 19, Problem E19.24E
Preparing job order costing
Learning Objectives 2, 3, 4, 5i. Underallocated by $9,650
Journalize the following transactions for Marge's Sofas. Explanations are not required.
- Incurred and paid Web site expenses, $2,000.
- Incurred manufacturing wages of $1,000,75% of which was direct labor and 25% of which was indirect labor.
- Purchased raw materials on account, $24,000.
- Used in production: direct materials, $7,500; indirect materials. $5,000.
- Recorded manufacturing
overhead :depreciation on plant, $18,000: plant insurance (previously paid), $1,500; plant property tax, $3,900 (credit Property Tax Payable). - Allocated manufacturing overhead to jobs, 200% of direct labor costs.
- Completed production on
jobs with costs of $40,000. - Sold inventory on account, $22,000; cost of goods sold, $18,000.
- Adjusted for overallocated or underallocated overhead.
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Preparing job order costing journal entries
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 or underallocated overhead.
Preparing job order costing journal entries
Journalize the following transactions for Marge’s Sofas. Explanations are not required.
Incurred and paid Web site expenses, $2,000.
incurred manufacturing wages of $15,000, 75% of which was direct labor and 25% of which was indirect labor.
Purchased raw materials on account, $24,000.
Used in production: direct materials, $7,500; indirect materials, $5,000.
Recorded manufacturing overhead: depreciation on plant, $18,000; plant insurance (previously paid), $1,500; plant property tax, $3,900 (credit Property Tax Payable).
Allocated manufacturing overhead to jobs, 200% of direct labor costs.
Completed production on jobs with costs of $40,000.
Sold inventory on account, $22,000; the cost of goods sold, $18,000.
Adjusted for overallocated or under-allocated overhead.
Cost Accounting
Please answer in 12 hours, thank you
Chapter 19 Solutions
Horngren's Accounting: The Managerial Chapters, Student Value Edition (12th Edition)
Ch. 19 - Prob. 1QCCh. 19 - When a manufacturing company uses direct...Ch. 19 - When a manufacturing company uses indirect...Ch. 19 - When a manufacturing company uses direct labor, it...Ch. 19 - What is Gell's predetermined overhead allocation...Ch. 19 - What is Gell's actual manufacturing overhead cost?...Ch. 19 - How much manufacturing overhead would Gell...Ch. 19 - What entry would Gell make to adjust the...Ch. 19 - A manufacturing company completed work on a job....Ch. 19 - Prob. 10QC
Ch. 19 - Why do managers need to know the cost of their...Ch. 19 - What types of companies use job order costing...Ch. 19 - What types of companies use process costing...Ch. 19 - What is the purpose of a job cost record?Ch. 19 - Explain the difference between cost of goods...Ch. 19 - A job was started on May 15, completed on June 27,...Ch. 19 - Give the journal entry for raw materials purchased...Ch. 19 - What is the purpose of the raw materials...Ch. 19 - How does the use of direct and indirect materials...Ch. 19 - Give the journal entry for direct and indirect...Ch. 19 - Give five examples of manufacturing overhead...Ch. 19 - What is the predetermined overhead allocation...Ch. 19 - What is an allocation base? Give some examples.Ch. 19 - How is manufacturing overhead allocated to jobs?Ch. 19 - A completed job cost record shows the unit cost of...Ch. 19 - Explain the journal entry for the allocation of...Ch. 19 - Give the journal entry for the completion of a...Ch. 19 - Why does the sale of a completed job require two...Ch. 19 - Prob. 19RQCh. 19 - If a company incurred $5,250 in actual overhead...Ch. 19 - Refer to the previous question. Give the journal...Ch. 19 - Explain the terms accumulate, assign, allocate,...Ch. 19 - Why would the manager of a service company need to...Ch. 19 - How is the predetermined overhead allocation rate...Ch. 19 - Distinguishing between job order costing and...Ch. 19 - Accounting for materials Back Country manufactures...Ch. 19 - Accounting for materials Learning Objective 2...Ch. 19 - Accounting for labor Learning Objective 2...Ch. 19 - Accounting for overhead Learning Objective 3 Oak...Ch. 19 - Allocating overhead Learning Objective 3 Job 303...Ch. 19 - Calculating predetermined overhead allocation...Ch. 19 - Completing and selling products Learning Objective...Ch. 19 - Comparing actual to allocated overhead Learning...Ch. 19 - Calculating under/overallocated overhead Learning...Ch. 19 - Prob. S19.11SECh. 19 - Prob. S19.12SECh. 19 - Prob. S19.13SECh. 19 - Prob. S19.14SECh. 19 - Distinguishing between job order costing and...Ch. 19 - Defining terminology Learning Objectives 1,2 Match...Ch. 19 - E19-17 Accounting for job costs
Learning Objective...Ch. 19 - E19-18 Recording materials and labor...Ch. 19 - Prob. E19.19ECh. 19 - Allocating and adjusting manufacturing overhead...Ch. 19 - Prob. E19.21ECh. 19 - Prob. E19.22ECh. 19 - Prob. E19.23ECh. 19 - Preparing job order costing journal entries...Ch. 19 - Prob. E19.25ECh. 19 - E19-26 Determining missing amounts
Learning...Ch. 19 - Prob. E19.27ECh. 19 - Prob. P19.28APGACh. 19 - Prob. P19.29APGACh. 19 - Prob. P19.30APGACh. 19 - Prob. P19.31APGACh. 19 - Prob. P19.32APGACh. 19 - Prob. P19.33APGACh. 19 - Prob. P19.34BPGBCh. 19 - Prob. P19.35BPGBCh. 19 - Prob. P19.36BPGBCh. 19 - Prob. P19.37BPGBCh. 19 - Prob. P19.38BPGBCh. 19 - Using job order costing in a service company...Ch. 19 - Using Excel to calculate a predetermined overhead...Ch. 19 - P19-41 Accounting for manufacturing overhead
This...Ch. 19 - Prob. 19.1TIATCCh. 19 - Prob. 19.1DCCh. 19 - Prob. 19.1FC
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