1. Record the proper journal entry for each transaction. a. $215,000 of materials was purchased on account. b. $190,000 of materials was used in production; of this amount, $164,000 was used on specific jobs. Manufacturing labor and salaries for the month totaled $210,000. A total of $180,000 of manufacturing labor and salaries was traced to specific jobs, and the remainder was indirect labor used in the factory. 000,0ASC. d. The company recorded $15,000 of depreciation on the plant and plant equip- ment. The company also received a plant utility bill for $8,000 which will be paid at a later date. e. $70,000 of manufacturing overhead was allocated to specific jobs. f. The company received a bill for CAD design services for $9,000. 2. By the end of January, was manufacturing overhead overallocated or underallocated? By how much?
1. Record the proper journal entry for each transaction. a. $215,000 of materials was purchased on account. b. $190,000 of materials was used in production; of this amount, $164,000 was used on specific jobs. Manufacturing labor and salaries for the month totaled $210,000. A total of $180,000 of manufacturing labor and salaries was traced to specific jobs, and the remainder was indirect labor used in the factory. 000,0ASC. d. The company recorded $15,000 of depreciation on the plant and plant equip- ment. The company also received a plant utility bill for $8,000 which will be paid at a later date. e. $70,000 of manufacturing overhead was allocated to specific jobs. f. The company received a bill for CAD design services for $9,000. 2. By the end of January, was manufacturing overhead overallocated or underallocated? By how much?
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 12PA: The following data summarize the operations during the year. Prepare a journal entry for each...
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