Homework Help is Here – Start Your Trial Now!
Business
Accounting
Cullumber Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. 2. 3. 4. 5. 6. 7. Job Number General factory use Job Materials purchased on account $161,280, and factory wages incurred $73,420. Materials requisitioned and factory labor used by job: A20 A21 A20 A23 A21 A22 A23 Materials $29,590 36,060 $ 30,320 33,000 3,760 $132,730 Factory Labor $15,200 Prepare a schedule showing the individual cost elements and total cost for each job in item 7. Direct Materials 18,480 12,600 $ 21,000 Manufacturing overhead costs incurred on account $41,580. (Hint: Use Accounts Payable.) Depreciation on factory equipment $12,220. Depreciation on the company's office building was $12,020. Manufacturing overhead rate is 90% of direct labor cost. Jobs completed during the quarter: A20, A21, and A23. 6,140 $73,420 Direct Labor 1 $ Manufacturing Overhead 1 $ $ Total

Cullumber Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. 2. 3. 4. 5. 6. 7. Job Number General factory use Job Materials purchased on account $161,280, and factory wages incurred $73,420. Materials requisitioned and factory labor used by job: A20 A21 A20 A23 A21 A22 A23 Materials $29,590 36,060 $ 30,320 33,000 3,760 $132,730 Factory Labor $15,200 Prepare a schedule showing the individual cost elements and total cost for each job in item 7. Direct Materials 18,480 12,600 $ 21,000 Manufacturing overhead costs incurred on account $41,580. (Hint: Use Accounts Payable.) Depreciation on factory equipment $12,220. Depreciation on the company's office building was $12,020. Manufacturing overhead rate is 90% of direct labor cost. Jobs completed during the quarter: A20, A21, and A23. 6,140 $73,420 Direct Labor 1 $ Manufacturing Overhead 1 $ $ Total

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 1PB: Entries for costs in a job order cost system Royal Technology Company uses a job order cost system....
See similar textbooks
icon
Related questions
icon
Concept explainers
Topic Video
Question

Don't give answer in image format 

Cullumber Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $161,280, and factory wages incurred $73,420. Materials requisitioned and factory labor used by job: 2. 4. 5. Job Number General factory use 6. 7. Job A20 A20 A21 A21 A22 A23 A23 Materials $29,590 $ 36,060 30,320 33,000 3. Manufacturing overhead costs incurred on account $41,580. (Hint: Use Accounts Payable.) Depreciation on factory equipment $12,220. Depreciation on the company's office building was $12,020. Manufacturing overhead rate is 90% of direct labor cost. Jobs completed during the quarter: A20, A21, and A23. 3,760 $132,730 Factory Labor $15,200 Direct Materials Prepare a schedule showing the individual cost elements and total cost for each job in item 7. 18,480 12,600 $ 21,000 6,140 $73,420 Direct Labor $ Manufacturing Overhead $ $ Total
Transcribed Image Text:Cullumber Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $161,280, and factory wages incurred $73,420. Materials requisitioned and factory labor used by job: 2. 4. 5. Job Number General factory use 6. 7. Job A20 A20 A21 A21 A22 A23 A23 Materials $29,590 $ 36,060 30,320 33,000 3. Manufacturing overhead costs incurred on account $41,580. (Hint: Use Accounts Payable.) Depreciation on factory equipment $12,220. Depreciation on the company's office building was $12,020. Manufacturing overhead rate is 90% of direct labor cost. Jobs completed during the quarter: A20, A21, and A23. 3,760 $132,730 Factory Labor $15,200 Direct Materials Prepare a schedule showing the individual cost elements and total cost for each job in item 7. 18,480 12,600 $ 21,000 6,140 $73,420 Direct Labor $ Manufacturing Overhead $ $ Total
Prepare entries to record the operations summarized above. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (1) (2) (3) (4) (5) (6) (7) Raw Materials Inventory Accounts Payable (To record materials purchases) Factory Labor Factory Wages Payable (To record factory wages) Work in Process Inventory Manufacturing Overhead Raw Materials Inventory (To record materials put into production) Work in Process Inventory Manufacturing Overhead Factory Labor (To record labor put into production) Manufacturing Overhead Accounts Payable Manufacturing Overhead Accumulated Depreciation-Equipment Depreciation Expense Accumulated Depreciation-Buildings Work in Process Inventory Manufacturing Overhead Finished Goods Inventory Work in Process Inventory Debit Credit
Transcribed Image Text:Prepare entries to record the operations summarized above. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (1) (2) (3) (4) (5) (6) (7) Raw Materials Inventory Accounts Payable (To record materials purchases) Factory Labor Factory Wages Payable (To record factory wages) Work in Process Inventory Manufacturing Overhead Raw Materials Inventory (To record materials put into production) Work in Process Inventory Manufacturing Overhead Factory Labor (To record labor put into production) Manufacturing Overhead Accounts Payable Manufacturing Overhead Accumulated Depreciation-Equipment Depreciation Expense Accumulated Depreciation-Buildings Work in Process Inventory Manufacturing Overhead Finished Goods Inventory Work in Process Inventory Debit Credit
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS