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Sheffield Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production 2. Materials purchased on account $194.300, and factory wages incurred $91,000 Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $36.540 $18,800 A21 45.120 22,700 A22 36,200 15.700 A23 40.470 25,400 General factory use 5.470 8,400 $163,800 $91,000 3. Manufacturing overhead costs incurred on account $54,100. 4. Depreciation on factory equipment $16,450. 5. Manufacturing overhead rate is 87% of direct labor cost. 6. Jobs completed during the quarter: A20, A21, and A23. Record the operations summarized above. (Enter negative amounts using either a negative sign preceding the number eg-45 or parentheses eg(45)) Raw Materials Inventory 194300 1. Purchased raw materials 1. Incurred factory labor Manufacturing Costs Factory Labor Manufacturing Overhea

Sheffield Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production 2. Materials purchased on account $194.300, and factory wages incurred $91,000 Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $36.540 $18,800 A21 45.120 22,700 A22 36,200 15.700 A23 40.470 25,400 General factory use 5.470 8,400 $163,800 $91,000 3. Manufacturing overhead costs incurred on account $54,100. 4. Depreciation on factory equipment $16,450. 5. Manufacturing overhead rate is 87% of direct labor cost. 6. Jobs completed during the quarter: A20, A21, and A23. Record the operations summarized above. (Enter negative amounts using either a negative sign preceding the number eg-45 or parentheses eg(45)) Raw Materials Inventory 194300 1. Purchased raw materials 1. Incurred factory labor Manufacturing Costs Factory Labor Manufacturing Overhea

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sheffield Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production 2. Materials purchased on account $194.300, and factory wages incurred $91,000 Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $36.540 $18,800 A21 45.120 22,700 A22 36,200 15.700 A23 40.470 25,400 General factory use 5.470 8,400 $163,800 $91,000 3. Manufacturing overhead costs incurred on account $54,100. 4. Depreciation on factory equipment $16,450. 5. Manufacturing overhead rate is 87% of direct labor cost. 6. Jobs completed during the quarter: A20, A21, and A23. Record the operations summarized above. (Enter negative amounts using either a negative sign preceding the number eg-45 or parentheses eg(45)) Raw Materials Inventory 194300 1. Purchased raw materials 1. Incurred factory labor Manufacturing Costs Factory Labor Manufacturing Overhea
Transcribed Image Text:Sheffield Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production 2. Materials purchased on account $194.300, and factory wages incurred $91,000 Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $36.540 $18,800 A21 45.120 22,700 A22 36,200 15.700 A23 40.470 25,400 General factory use 5.470 8,400 $163,800 $91,000 3. Manufacturing overhead costs incurred on account $54,100. 4. Depreciation on factory equipment $16,450. 5. Manufacturing overhead rate is 87% of direct labor cost. 6. Jobs completed during the quarter: A20, A21, and A23. Record the operations summarized above. (Enter negative amounts using either a negative sign preceding the number eg-45 or parentheses eg(45)) Raw Materials Inventory 194300 1. Purchased raw materials 1. Incurred factory labor Manufacturing Costs Factory Labor Manufacturing Overhea
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