Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Materials purchased on account $153,600, and factory wages incurred $69,840. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory

1. Materials purchased on account $153,600, and factory wages incurred $69,840. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $28,190 $14,400 A21 34,340 17,600 A22 28,880 12,000 A23 31,420 20,000 General factory use 3,580 5,840 $126,410 $69,840 3. Manufacturing overhead costs incurred on account $39,600. (Hint: Use Accounts Payable.) 4. Depreciation on factory equipment $11,640. 5. Depreciation on the company's office building was $11,440. 9 6. Manufacturing overhead rate is 90% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23. Prepare a schedule showing the individual cost elements and total cost for each job in item 7. Job A20 $ A21 A23 Direct Materials $ Direct Labor Manufacturing Overhead Total $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Tools for business decision making

Authors: kimmel, weygandt, kieso

4th Edition

978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461

More Books

Students also viewed these Accounting questions