College Accounting
College Accounting
13th Edition
ISBN: 9781337280563
Author: Scott, Cathy J.
Publisher: Cengage Learning,
Question
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Chapter 7, Problem 4PB

1.

To determine

Complete the Company B’s payroll register.

2.

To determine

Journalize the transaction to record the payroll.

3.

To determine

Journalize the transaction to record the payment of wages by assuming that the company has transferred funds from payroll to its cash- payroll bank account.

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Irving Manufacturing applies manufacturing overhead to jobs based on machine hours used. Overhead costs are expected to total $312,500 for the year, and machine usage is estimated at 140,500 hours. For the year, $385,250 of overhead costs are incurred, and 147,800 hours are used. Requirement: Compute the budgeted and actual manufacturing overhead rates for the year. (Round answers to 2 decimal places.) Answer
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