What is the total amount of manufacturing overhead applied to production during the year? (Show complete calculations) What is the total manufacturing cost added to Work in Process during the year? What is the journal entry to record the transfer of completed jobs that is referred to above?

What document is used to determine the actual amount of direct labor to record on a job cost sheet? a. Wages payable account O b. Payroll register c. Time ticket d. Production order

1. How much overhead would have been charged to the company’s Work-in-Process account during the year? 2. Comment on the appropriateness of the company’s cost drivers (i.e., the use of machine hours in Machining and direct-labor cost in Assembly).

What journal entry is recorded when a material manager recieves a materials requisiton andthen issues materials (both direct and indirect) for use in the factory?

What journal entry is recorded when a materials manager receives a materials requisition and then issues materials (both direct and indirect) for use in the factory?

Indicate whether the accounts below are used in the cost flow for a manufacturer, a service provider, or both. Cost of Services   Cost of Goods Sold   Factory Overhead   Finished Goods   Materials   Overhead   Supplies   Wages Payable   Work in Process

Determine whether each of the following costs should be classified as product costs or period costs. Depreciation on office equipment. Salary to painting supervisor. Wages paid to production workers. Insurance on office equipment and machinery. Materials purchased.

Question: In a job order cost accounting system, which journal entry would be made when raw materials are transferred into production during the month? a. Debit Goods in Process Inventory and Credit Materials Expense. b. Debit Factory Overhead and Credit Raw Materials Inventory. c. Debit Goods in Process Inventory and Credit Raw Materials Inventory. d. Debit Raw Materials Inventory and Credit Goods in Process Inventory. e. Debit Finished Goods Inventory and Credit Goods in Process Inventory.

Why must a company estimate the amount of factory overhead assigned to individual jobs or job lots?

Number the following in the order of the flow of manufacturing costs for a company: a. Closing under/overapplied factory overhead to cost of goods sold b. Materials purchased c. Factory labor used and factory overhead incurred in production d. Completed jobs moved to finished goods e. Factory overhead applied to jobs according to the predetermined overhead rate f. Materials requisitioned to jobs g. Selling of finished product h. Preparation of financial statements to determine gross profit