A summary of material requisition slips and time tickets, along with the overhead allocation, show the following costs: Factory Material Labor Requisition Time Overhead Job No. Slips Tickets Applied 131 $505 $200 $60 132 255 240 72 133 405 200 60 134 330 320 96 Not job specific 80 160 $1,575 $1,120 $288 A. Prepare an entry to record the assignment of direct material to work in process. If an amount box does not require an entry, leave it blank. B. Prepare an entry to record the assignment of direct labor to work in process. If an amount box does not require an entry, leave it blank. C. Prepare an entry to record the assignment of manufacturing overhead to work in process. If an amount box does not require an entry, leave it blank. 88 Accounts Payable Factory Wages Payable Manufacturing Overhead Raw Materials Inventory Work in Process Inventory

A summary of material requisition slips and time tickets, along with the overhead allocation, show the following costs: Factory Material Labor Requisition Time Overhead Job No. Slips Tickets Applied 131 $505 $200 $60 132 255 240 72 133 405 200 60 134 330 320 96 Not job specific 80 160 $1,575 $1,120 $288 A. Prepare an entry to record the assignment of direct material to work in process. If an amount box does not require an entry, leave it blank. B. Prepare an entry to record the assignment of direct labor to work in process. If an amount box does not require an entry, leave it blank. C. Prepare an entry to record the assignment of manufacturing overhead to work in process. If an amount box does not require an entry, leave it blank. 88 Accounts Payable Factory Wages Payable Manufacturing Overhead Raw Materials Inventory Work in Process Inventory

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 16EB: A summary of materials requisition slips and time tickets, along with the overhead allocation, show...

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A summary of material requisition slips and time tickets, along with the overhead allocation, show the following costs: Job No. MaterialRequisitionSlips FactoryLaborTimeTickets OverheadApplied 131 $505 $200 $80 132 235 260 104 133 380 160 64 134 325 320 128 Not job specific 60 160 0 $1,505 $1,100 $376 A. Prepare an entry to record the assignment of direct material to work in process. If an amount box does not require an entry, leave it blank. fill in the blank d3b310090003fc9_2 fill in the blank d3b310090003fc9_3 fill in the blank d3b310090003fc9_5 fill in the blank d3b310090003fc9_6 B. Prepare an entry to record the assignment of direct labor to work in process. If an amount box does not require an entry, leave it blank. fill in the blank 26a436ff9fa5f86_2 fill in the blank 26a436ff9fa5f86_3 fill in the blank 26a436ff9fa5f86_5 fill in the…
Which document lists the inventory that will be removed from the raw materials inventory? A. job cost sheet B. purchase order C. materials requisition form D. receiving document
The journal entry to record the Labor Time Tickets includes a credit to the Factory Labor account of what dollar amount? Materials Labor Requisition Time For Slips Tickets Job No. 429 $ 3,500 $ 4,400 Job No. 430 2,600 3,400 Job No. 431 3,400 4,200 Job No. 432 3.000 4.000 Sub-Total 12,500 16,000 General Use 1.000 1,500 Total Cost $ 13.500 17,500 $13,500 $1,500 $17,500 $16,000
For the year ended December 31, 2022, the job cost sheets of Carla Vista Company contained the following data. Job Number 7640 7641 7642 Other data: 1. 2. 3. 4. 5. 6. 7. Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs Direct Materials. $29,500 35,400 12,980 50,740 68,440 Direct Labor $28,320 42,480 21,240 56,640 64,900 Manufacturing Overhead Total Costs 25,488 $91,804 $33,984 50,976 128,856 59,708 67.968 175,348 77,880 211.220 Raw materials inventory totaled $17,700 on January 1. During the year, $165,200 of raw materials were purchased on account. Finished goods on January 1 consisted of Job No. 7638 for $102,660 and Job No. 7639 for $108,560. Job No. 7640 and Job No. 7641 were completed during the year. Job Nos. 7638,7639, and 7641 were sold on account for $625,400. Manufacturing overhead incurred on account totaled $141,600. Incurred depreciation on factory machinery $9,440. Assigned indirect materials of $16,520 and indirect labor…
Entry for Factory Labor Costs A summary of the time tickets is as follows: Job No. Amount 100 $4,800 101 5,875 104 18,250 108 15,500 Indirect 8,220 111 9,430 115 12,675 117 19,225 Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.
C4Q5 Need help Prepare journal entries for the December 31 payroll. 2. Use T-accounts to compute the following: a. The total amount of materials requisitioned into work-in-process during December b. The total amount of direct manufacturing labor recorded in work in process during December (Hint: You have to solve requirements 2b and 2c simultaneously) c. The total amount of manufacturing overhead recorded in work-in-process during December d. Ending balance in work-in-process, December 31 e. Cost of goods sold for December before adjustments for under- or overallocated manufacturing overhead 3. Prepare closing journal entries related to manufacturing overhead. Assume that all under- or overallocated manufacturing overhead is closed directly to Cost of Goods Sold.
Entry for Factory Labor Costs A summary of the time tickets is as follows: Job No. Amount 100 $3,350 2,780 5,090 5,800 17,860 3,540 2,320 15,720 101 104 108 Indirect 111 115 117 Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.
E COST ACCOUNTING AND CONT x + To * pook i forms.office.com/Pages/ResponsePage.aspx?id=cYWpTercOUIPsQvdXclp-WXyu19p0dpljDbGCXgjKqpUMKISRjcOSUUyWkgwUERKSzczT0tETUhGQi4u&fbclid. ☆ 49 Determine the costs of jobs completed in January. January 1, there were two jobs in process at the Fortune Manufacturing Company. Details of the jobs are: Job No. Direct Materials Direct Labor A-9 A-10 P 34,800 6,400 P12,800 16,800 Materials inventory at January 1 totaled P 184,000 and P 23,200 in materials were purchased during the month. A requisition for P16,00 in supplies was filled. On January 1, finished goods inventory consisted of two Jobs: Job No. A-7 costing P78,400 and Job No. 8 with a cost of P31,600. Both these Jobs were sold during the month. Also during January, Job Nos. A-9 and A-10 were completed. Completing Job No, A-9 required additional P13,600 in direct labor and P6,000 in direct materials. The completion costs for Job No. A-10 included P21,600 in direct materials and P 40,000 in direct…
Entry for Issuing Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 103 Plastic 400 $29,720 104 Steel 402 38,870 105 Glue Indirect 2,130 106 Rubber 403 3,420 107 Titanium 404 89,450 Journalize the entry to record the issuance of materials. For a compound transaction, if an amount box does not require an entry, leave it blank. Work in Process v Factory Overhead v Materials v Feedback Check My Work Increase the work in process for direct materials and factory overhead and decrease materials.
Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job P90 was started, completed, and sold to the customer for $3,200. The following information was available with respect to this job: $ 1,472 Direct materials Direct labor cost Machine-hours used $ 1,056 79 Compute the total manufacturing cost assigned to Job P90. Complete this question by entering your answers in the tabs below. Required 1 Required 2 200,000 $ 2,800,000 $ 2.00 Compute the plantwide predetermined overhead rate. Predetermined overhead rate per MH
For each item below indicate the source documents that would most likely authorize the journal entry in a job-costing system. An answer may be used more than once ,but not all answers will be used. 1. applied overhead rate 2. budgeted invoice 3. job cost record 4. labor time card 5. materials requisition record 6. purchase invoice 7. revenue record 8. sales invoice a. direct materials purchased b. direct materials used c. direct manufacturing labor d. indirect manufacturing labor e. finished goods control f. cost of goods sold
Entry for Factory Labor Costs A summary of the time tickets is as follows: Job No. 55 57 58 60 Indirect 66 67 70 Amount Work in Process Factory Overhead Wages Payable $2,950 2,450 4,480 5,130 15,720 3,130 2,050 13,900 Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.