Prepare journal entries to record the following production activities.1. Paid other actual overhead costs of $38,000 in cash.2. Applied overhead at 100% of direct labor costs. Direct labor costs were $42,000 in the Roasting departmentBlending department.View transaction listJournal entry worksheetABRecord overhead costs paid.Note: Enter debits before credits.Transaction1Record entryGeneral JournalClear entryDebitCreditView general journal

The journal entries are the first step of accounting process to record the transactions of the…

Prepare journal entries to record the following production activities. 1. Paid other actual overhead costs of $38,000 in cash. 2. Applied overhead at 100% of direct labor costs. Direct labor costs were $42,000 in the Roasting departmen Blending department. View transaction list Journal entry worksheet A B Record overhead costs paid. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal >

Prepare journal entries to record the following production activities. 1. Paid other actual overhead costs of $38,000 in cash. 2. Applied overhead at 100% of direct labor costs. Direct labor costs were $42,000 in the Roasting departmen Blending department. View transaction list Journal entry worksheet A B Record overhead costs paid. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal >

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 12PB: The following data summarize the operations during the year. Prepare a journal entry for each...

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Journalize the following transactions for Sheridan Company. (a) Purchased 5,900 units of raw materials on account for $16.930. The standard cost was $17,700. (b) Issued 5,800 units of raw materials for production. The standard units were 5.890. 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 (a) (b) Debit Credit
A company that uses job order costing incurred a monthly factory payroll of $223,500. Of this amount, $43,000 is indirect labor and $180,500 is direct labor. Prepare journal entries to record the (a) use of direct labor and (b) use of indirect labor. View transaction list Journal entry worksheet < 1 Record the cost of direct labor used. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal
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The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $192,000 ($153,600 direct materials and $38,400 indirect materials). c. Accrued direct labor cost of $48,000 and indirect labor cost of $22,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $131,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine-hour. A total of 76,500 machine-hours were used in October. g. Jobs costing $513,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $452,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 24% above cost. Required: 1. Prepare journal entries to record the transactions given…
Account Titles and Explanation Debit Credit Direct Materials Inventory 583000 Accounts Payable 58300 (To record purchase of direct materials) Manufacturing Overhead 132000 (10 recora appiiea manuracturing overnead) Supplies Inventory 13200 7. Finished Goods Inventory 2410000 (To record use of indirect materials in production) Work in Process Inventory 569000 Work in Process Inventory 241000 56900 (To record transfer of completed goods to Finished Goods Inventory) Direct Materials Inventory (To record use of direct materials in production) 8. Cost of Goods Sold 2398000 Work in Process Inventory 791000 Wages Payable 79100 Finished Goods Inventory 239800 (To record direct labor payroll) (To record cost of goods sold for the period) Manufacturing Overhead 690000 Accounts Payable 690001 (To record actual manufacturing overhead) Work in Process Inventory 1071000 Manufacturing Overhead 107100
a. Incurred $105,000 of direct labor in its Mixing department and $90,000 of direct labor in its Shaping department. Hint. Credit Factory Wages Payable. b. Incurred indirect labor of $23,000. Hint. Credit Factory Wages Payable. View transaction list Journal entry worksheet
Prepare journal entries to record transactions a through h. a. Raw materials purchased on credit, $96,000. b. Direct materials used, $41,000. Indirect materials used, $18,600. c. Direct labor used, $32,000. Indirect labor used, $8,000. (Record using Factory Wages Payable.) d. Paid cash for other actual overhead costs, $8,000. e. Applied overhead at the rate of 120% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $60,000. g. Sales of jobs on credit was $85,000. h. Cost of jobs sold was $60,000. View transaction list Journal entry worksheet
Prepare journal entries to record transactions a through h. a. Raw materials purchased on credit, $82,000. b. Direct materials used, $37,500. Indirect materials used, $17,200. c. Direct labor used, $30,000. Indirect labor used, $10,000. (Record using Factory Wages Payable.) d. Paid cash for other actual overhead costs, $7,125. e. Applied overhead at the rate of 125% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $54,400. g. Sales of jobs on credit was $77,000. h. Cost of jobs sold was $54,400. View transaction list Journal entry worksheet 1 2 Transaction a. Note: Enter debits before credits. 3 Record raw materials purchased on account. Record entry 4 5 General Journal Clear entry 6 7 8 Debit 9 10 Credit View general journal >