Provide the journal entry for the finished goods dept. if manufacturing overhead applied to that department is $1,000.

At the beginning of the year, Custom Manufacturing set its predetermined overhead rate using the following estimates: overhead costs, $520,000, and direct materials costs, $200,000.At year-end, the company reports that actual overhead costs for the year are $528,700 and actual direct materials costs for the year are $200,000. 1. Determine the predetermined overhead rate using estimated direct materials costs 2. Enter the actual overhead costs incurred and the amount of overhead cost applied to jobs during the year using the predetermined overhead rate. Determine whether overhead is over- or underapplied (and the amount) for the year. 3. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Enter the actual overhead costs incurred and the amount of overhead cost applied to jobs during the year using the predetermined overhead rate. Determine whether overhead…

how I do these entries? Quality Brick Company produces bricks in two processing departments—Molding and Firing. Information relating to the company’s operations in March follows:   Raw materials used in production: Molding Department, $28,500; and Firing Department, $5,500. Direct labor costs incurred: Molding Department, $19,700; and Firing Department, $5,400. Manufacturing overhead was applied: Molding Department, $23,300; and Firing Department, $39,600. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the company’s process costing system, the cost of the unfired, molded bricks was $69,500. Finished bricks were transferred from the Firing Department to the finished goods warehouse. According to the company’s process costing system, the cost of the finished bricks was $109,400. Finished bricks were sold to customers. According to the company’s process costing system, the cost of the finished bricks sold was $104,300.…

Company XYZ applies overhead cost to jobs on the basis of direct labor cost. Job A, which was started and completed during the current period, shows charges of $15,000 for direct materials, $13,000 for direct labor, and $26,000 for overhead on its job cost sheet. Job B, which is still in process at year-end, shows charges of $12,400 for direct materials and $24,000 for applied overhead. Direct labor cost of Job B at year-end is: Select one: a. $12,000 b. None of the answers given c. $36,400 d. $11,000 e. $13,000

A job order costing company had the following ending balances and cost of goods sold prior to any adjustments for under/over-applied overhead. Raw Materials: $20,000 Work-in-process: $60,000 Finished Goods: $40,000 Cost of Goods Sold: $100,000 The company incurred total manufacturing overhead costs of $360,000. The amount of overhead that was debited to work-in-process was $300,000. Which of the following shows the correct journal entry for the adjustment for under/over-applied overhead? The company uses the method that adjusts three different accounts. Debit. Raw Materials $10,000 Debit. Work-in-process $30,000 Debit. Finished Goods $20,000 Credit. Manuf. Overhead Debit. Manuf. Overhead $60,000 Credit. Raw Materials $10,000 Credit. Work-in-process $30,000 Credit. Finished Goods $20,000 Debit. Manuf. Overhead $60,000 Credit. Work-in-process $18,000 Credit. Finished Goods $12,000 Credit. Cost of Goods Sold $30,000 Debit. Work-in-process Debit. Finished Goods Debit. Cost of Goods Sold…

In job costing, the journal entry to record $200 of depreciation expense on factory equipment for the current period involves which of the following? credit to manufacturing overhead for $200 debit to depreciation expense-factory equipment for $200 debit to manufacturing overhead for $200 debit to accumulated depreciation-factory equipment for $200

prepare entry to assign manufacturing overhead to production, assuming the predetermined overhead rate is 125% of direct labor cost.

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…