Warner Company purchases $52,500 of raw materials on account, and it incurs $62,200 of the factory labor costs. Supporting records show that (a) the Assembly Department used $32,700 of raw materials and $42,200 of the factory labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31.

Warner Company purchases $52,500 of raw materials on account, and it incurs $62,200 of the factory labor costs. Supporting records show that (a) the Assembly Department used $32,700 of raw materials and $42,200 of the factory labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31.

Name: Warner Company purchases $52,500 of raw materials on account, and it i
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Description: Warner Company purchases $52,500 of raw materials on account, and it incurs $62,200 of the factory labor costs. Supporting records show that (a) the Assembly Department used $32,700 of raw materials and $42,200 of the factory labor, and (b) the Finis

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 17E: Nelson Fabrication Inc. had a remaining credit balance of $20,000 in its under- and overapplied...

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Nelson Fabrication Inc. had a remaining credit balance of $20,000 in its under- and overapplied factory overhead account at year-end. The balance was deemed to be large and, therefore, should be closed to Work in Process, Finished Goods, and Cost of Goods Sold. The year-end balances of these accounts, before adjustment, showed the following: Determine the prorated amount of the overapplied factory overhead that is chargeable to each of the accounts. Prepare the journal entry to close the credit balance in Under-and Overapplied Factory Overhead.
oriole company purchases $44, 000 of raw materials on account, and it incurs $52, 800 of factory labor costsOriole Company purchases $44,000 of raw materials on account, and it incurs $52, 800 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 (To record raw materials purchased ) 31 (To record factory labor costs)
Sunland Company purchases $47,000 of raw materials on account, and it incurs $56,400 of factory labor costs. Supporting records show that (a) the Assembly Department used $22.560 of direct materials and $32.900 of direct labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31. (List oll debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 31 (To record materials used). (To assign factory labor to production) Debit Credit
Blossom Company purchases $62,000 of raw materials on account, and it incurs $74,400 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 31 (To record raw materials purchased) (To record factory labor costs) Debit Credit
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Sheridan Manufacturing incurs $81,500 of direct labour costs. Supporting records show that the assembly department used $44,100 of the direct labour and the finishing department used the remainder. Manufacturing overhead is assigned to departments on the basis of 186% of direct labour costs. Journalize the assignment of overhead to the assembly and finishing departments. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 Work in Process Inventory-Assembly Department Work in Process Inventory-Finishing Department Manufacturing Overhead eTextbook and Media Debit 82026 69,564 Credit
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