Bobcat Company uses a job-order costing system. During April, the following costs appeared in the work in Process Inventory account:   Beginning balance $24,000,   Direct material used 70,000,   direct labor incurred 60,000,   applied overhead 48,000,   cost of good manufactured 185,000.   Bobcat applies overhead on the basis of direct labor cost. There was only one job left in work in process at the end of April which contained $5600 overhead. What amount of direct material was included in this job?

Barnes Company uses a job order cost system. The following data summarize the operations related to production for October: October Materials purchased on account, $644,380. 1 Materials requisitioned, $670,250, of which $71,770 was for general factory use. 31 Factory labor used, $637,900, of which $88,640 was indirect. 31 Other costs incurred on account for factory overhead, $142,060; selling expenses, $238,560; and administrative expenses, $151,300. 31 Prepaid expenses expired for factory overhead were $29,450; for selling expenses, $27,540; and for administrative expenses, $18,720. 31 Depreciation of office building was $84,480; of office equipment, $43,730; and of factory equipment, $32,270. 31 Factory overhead costs applied to jobs, $379,790. 31 Jobs completed, $988,380. 31 Cost of goods sold, $921,340. Required: Journalize the entries to record the summarized operations. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for…

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, $189,000 ($151,200 direct materials and $37,800 indirect materials). c. Accrued direct labor cost of $50,000 and indirect labor cost of $21,000. 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 $8 per machine-hour. A total of 76,100 machine-hours were used in October. g. Jobs costing $512,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $450,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 28% above cost Required: 1. Prepare journal entries to record the transactions given…

The Polaris Company uses a job-order costing system. The following transactions occurred in October:   Raw materials purchased on account, $211,000. Raw materials used in production, $191,000 ($152,800 direct materials and $38,200 indirect materials). Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. Depreciation recorded on factory equipment, $106,000. Other manufacturing overhead costs accrued during October, $130,000. The company applies manufacturing overhead cost to production using a predetermined rate of $9 per machine-hour. A total of 76,300 machine-hours were used in October. Jobs costing $513,000 according to their job cost sheets were completed during October and transferred to Finished Goods. Jobs that had cost $451,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 28% above cost.   Can you please help me with the following:  Prepare journal entries to record the…

Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials Work in process Finished goods The company applies overhead cost to jobs using direct labor-hours. For this year, the company's predetermined overhead rate of $12.50 per direct labor-hour was based on a cost formula that estimated $500,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded this year: a. Raw materials were purchased on account, $614,000. b. Raw materials used in production, $567,600. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $450,000; indirect labor, $150,000; selling and administrative salaries, $290,000. $ 84,500 $ 35,000 $ 44,100 d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods…

The company uses a job-order costing system that applies overhead to jobs based on direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $76,500 of manufacturing overhead for an estimated activity level of $45,000 direct labor dollars. The beginning inventory balances were as follows: Raw materials Work in process Finished goods During the year, the following transactions were completed: a. Raw materials purchased on account, $160,000. b. Raw materials used in production, $144,000 (materials costing $121,000 were charged directly to jobs; the remaining materials were indirect). c. Cash paid to employees: Direct labor Indirect labor Sales commissions Administrative salaries d. Rent for the year was $18,700 ($13,300 related to factory operations, and the remainder related to selling and administrative activities). e. Utility costs incurred in the factory, $18,000. f. Advertising costs incurred, $13,000. g. Depreciation on equipment, $22,000 ($17,000…

Watkins Machinery Company uses a normal job costing system. The company has the following partial trial balance information for March, the last month of its fiscal year: Materials inventory (X, $17,250; Y, $11,500; Indirect materials, $28,750) $ 57,500 Work-in-process inventory (this is Job 101) 28,800 Finished goods inventory (this is Job 100) 48,000   These transactions relate to the month of March: Purchased direct materials and indirect materials with the following summary of receiving reports: Material X $ 57,500 Material Y 57,500 Indirect materials 28,750 Total $ 143,750   Issued direct materials and indirect materials with this summary of requisitions:   Job 101 Job 102 Total Material X $ 28,750 $ 17,250 $ 46,000 Material Y 23,000 3,000 26,000 Subtotal $ 51,750 $ 20,250 $ 72,000 Indirect materials     46,000 Total     $ 118,000   Factory labor incurred is summarized by these time tickets: Job 101 $ 57,600 Job 102 38,400…