FUND.ACCT.PRIN.
FUND.ACCT.PRIN.
25th Edition
ISBN: 9781260247985
Author: Wild
Publisher: RENT MCG
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Chapter 19, Problem 19E

Exercise 19-19
Job order costing of services

A1
Diaz and Associates incurred the following costs in completing a tax return for a large company. Diaz applies overhead at 50% of direct labor cost.

1. Prepare journal entries to record direct labor and the overhead applied.

Chapter 19, Problem 19E, Exercise 19-19 Job order costing of services A1 Diaz and Associates incurred the following costs in

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Problem 22: Cost of Goods Sold Statement Julius Inc. is employing normal costing for its job orders. The overhead is applied using a predetermined overhead rate. The following information relates to the Julius Inc. for the year ended December 31, 2020:                                                                                         Job No. 101           Job No. 102                 Job No. 103 Job in Process, January 1, 2020: Direct Materials                                     40,000                    30,000                          0 Labor                                                        60,000                    40,000                          0 Factory Overhead                                  30,000                    20,000                          0 Costs added during 2020 Materials                                                  20,000                    10,000                       100,000 Labor                                                        100,000…
QUESTION 11 O'Hare Company is a manufacturing firm that uses a job-order cost system to determine the costs of its products. O'Hare Company counted the production supplies on hand at year-end and determined that the amount used was $125. The recognition of this event on the financial statements would include an increase to which of the following accounts?     Supply expense.     Work in process.     Finished goods.     Manufacturing overhead.
PROBLEM 14 Wayne company uses a job costing system and applies overhead to jobs using a predetermined overhead rate based on direct labor-hours. The company had the following inventories at the beginning and end of March: Direct Materials. Work in Process. Finished Goods... March 1 P36,000 18,000 54,000 March 31 P30,000 12,000 72,000 The following additional data pertain to operations during March: Direct materials purchased. Direct labor cost.. P84,000 P60,000 Direct labor rate.. Overhead rate..... P7.50 per direct labor-hour P10.00 per direct labor-hour 17. During March total debits to Work in Process were: a. P84,000. b. Р220,000. c. P144,000. d. P230,000. 18. The Cost of Goods Manufactured for March was: a. P212,000. b. P218,000. c. P230,000. d. P236,000. PROBLEM 15 Mallet Company has only Job 844 in process on March I of the current year. The job has been charged with P2,000 of direct material cost, P2,500 of direct labor cost, and P1,750 of manufacturing overhead cost. The…

Chapter 19 Solutions

FUND.ACCT.PRIN.

Ch. 19 - Prob. 11QSCh. 19 - Prob. 12QSCh. 19 - Jab order costing of services A1 An advertising...Ch. 19 - Job order costing of services A1 An advertising...Ch. 19 - Job cost sheet C2 Eco Skate makes skateboards from...Ch. 19 - Prob. 16QSCh. 19 - Prob. 17QSCh. 19 - Prob. 18QSCh. 19 - Prob. 19QSCh. 19 - Prob. 20QSCh. 19 - Prob. 21QSCh. 19 - Prob. 22QSCh. 19 - Prob. 23QSCh. 19 - Prob. 24QSCh. 19 - Exercise 19-1 Job order production C1 Match each...Ch. 19 - Exercise 19-2 Job cost computation C2 The...Ch. 19 - Exercise 19-3 Analysis of cost flows C2 As of the...Ch. 19 - Exercise 19-4 Recording product costs P1 P2 P3...Ch. 19 - Exercise 19-5 Manufacturing cost flows P1 P2 P3...Ch. 19 - Exercise 19-6 Recording events in job order...Ch. 19 - Exercise 19-7 Cost flows in a jab order costing...Ch. 19 - Exercise 19-8 Journal entries for materials P1 Use...Ch. 19 - Exercise 19-9 Journal entries for labor P2 Use...Ch. 19 - Exercise 19-10 Journal entries for overhead P3 Use...Ch. 19 - Exercise 19-11 Overhead rate; costs assigned to...Ch. 19 - Exercise 19-12 Analyzing costs assigned to work in...Ch. 19 - Exercise 19-13 Adjusting factory overhead P4 Refer...Ch. 19 - Exercise 19-14 Adjusting factory overhead P4...Ch. 19 - Prob. 15ECh. 19 - Prob. 16ECh. 19 - Exercise 19-17 Overhead rate calculation,...Ch. 19 - Exercise 19-18 Job order costing for services A1...Ch. 19 - Exercise 19-19 Job order costing of services A1...Ch. 19 - Exercise 19-20 Direct materials journal entries P1...Ch. 19 - Prob. 21ECh. 19 - Prob. 22ECh. 19 - Prob. 23ECh. 19 - Prob. 24ECh. 19 - Prob. 25ECh. 19 - Prob. 26ECh. 19 - Prob. 27ECh. 19 - Prob. 28ECh. 19 - Prob. 29ECh. 19 - Prob. 30ECh. 19 - Prob. 31ECh. 19 - Problem 19-1A Production costs computed and...Ch. 19 - Problem 19-2 A Source documents, journal entries,...Ch. 19 - Prob. 3PSACh. 19 - Prob. 4PSACh. 19 - Problem 19-5A Production transactions, subsidiary...Ch. 19 - Problem 19-1B Production costs computed and...Ch. 19 - Prob. 2PSBCh. 19 - Prob. 3PSBCh. 19 - Problem 19-4B Overhead allocation and adjustment...Ch. 19 - Problem 19-5B Production transactions, subsidiary...Ch. 19 - The computer workstation furniture manufacturing...Ch. 19 - The General Ledger tool in Connect automates...Ch. 19 - Manufacturers and merchandisers can apply...Ch. 19 - Prob. 2AACh. 19 - Apple and Samsung compete in the global...Ch. 19 - Prob. 1DQCh. 19 - Some companies use labor cost to apply factory...Ch. 19 - Prob. 3DQCh. 19 - In a job order costing system, what records serve...Ch. 19 - What journal entry is recorded when a materials...Ch. 19 - Prob. 6DQCh. 19 - Google uses a "time ticket" for some employees....Ch. 19 - What events cause debits to be recorded in the...Ch. 19 - Prob. 9DQCh. 19 - Assume that Apple produces a batch of 1,000...Ch. 19 - 11. Why must a company use predetermined overhead...Ch. 19 - How would a hospital apply job order costing?...Ch. 19 - Harley-Davidson manufactures 30 custom-made,...Ch. 19 - Prob. 14DQCh. 19 - Prob. 15DQCh. 19 - Assume that your company sells portable housing to...Ch. 19 - Assume that you are preparing for a second...Ch. 19 - Prob. 3BTNCh. 19 - Consider the activities undertaken by a medical...
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