Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4 Conglete this puestion by entering your answers in the tabs below Prepare journal entries the finit account) Journal entry worksheet B Raw materials purchased

4 Conglete this puestion by entering your answers in the tabs below Prepare journal entries the finit account) Journal entry worksheet B Raw materials purchased on account, $210,000 Traction General Ja Detal Crut View general journal Clear Recordy Required 2> + Complete this question by entering your awers in the tabs below ed in the fest account had Journal entry worksheet Record the raw materials issued to production, $191.000 ($152,800 direct materials and $38,200 indirect materials). Genwal Journal Det Cre Recordenty Clear entry View general journal Required 2 Journal entry worksheet 2 Record the entry for accrued direct labor cost incurred, $48,000; indirect labor cost incurred, $22,000. Note Exter debts befindes Tansaction General Journal Detit Credit Record entry Cleary View general journal Required 2 > 4 Complete this question by entering your answers in the tabs be Put to record the transactions given above. (If is entry is fr Journal entry worksheet < 6 6 T Depreciation recorded on factory equipment, $105.000 Tramaction d General J O Cwill Clear Writy Reco Required 2> 4 4 Complete this question by entering your answers in the tabs be Journal entry worksheet 4 T Other manufacturing overhead costs accrued during October, $130,000 Tanson Record any Clearonity Data Cred Required> Next + Complete this question by entering your wers in the tabs below. Prepare oural entries to record the transactions given above. (If no entry required for a trennen try required in the first account fid) Journal entry worksheet 2 4 B 2 B P The company apples manufacturing overhead cost to production on the basis of $5 per machine-hour & total of 76,400 machine-hours were recorded for October Tramaction General Journal D C Clear entry Record entry Required 2> + Complete this question by entering your were in the tabs below Paper jurnal entries to record the transactions given above any red for the jo red in the first account fand Journal entry worksheet " " Jobs costing $514,000 accending to their job cost sheets were completed during October and transferred to Finished Goods Transaction General Journal Dett Chen Record entry Clear Required 2 > 4 Complete this question by entering your answers in the ton below 10 10 Prepare journal entries to recond the transactions given above. (If no entry is required for at joy required in the first account fel Journal entry worksheet < 7 Record the cost of goods sold. Pansaction (1) Deteral J D Craft Record entry Clear entry Required 2> 4 B Cemplate this gestion By entering your answers in the tabs below Journal entry worksheet Record the sales on account B 7 General Journe De Creat 100 Record Clear entry Required 2 > 4 The PC uns job ordering system The towing transections occured in Ober Raw meterials purchased on account $210000 was used in production sin.000 2.000 rect metenes and $38.200 ind Accrued direct labor cost of $48,000 and indirect labor cost of $22.000 Depreciation recorded on factory equipment $105.000 Other manufacturing overheed costs accrued during One $130.000 The company apples manufacturing overhead cost to production using predeemned rate of $5 per machine-hour of 76,400 machine-hours were used in October Job costing $54.000 according to their job cost sheets were completed during October and tranteed to shed Goods Jobs that had cost $450.000 so complete according to the job cost sheets were shipped to customers furing the month Th jobs were sold on account at 30% above cost 1 Prepare journal entries to record the transactions given above 2. Prepere T-accounts for Manufacturing Oveneed and Work in Process Post the relevent or thin bove to each account Compute the ending belence in each account, assuming that Work in Process has a beginning balance of $35.000 Complete this question by entering your answers in the tab below Ending balance Cre De Exdigte 4 Showed Hin Refer The Polaris Company uses a job-order costing system. The following transections occurred in October a. Raw materials purchased on account, $210,000 b Raw materials used in production, $191,000 ($152.800 direct materials and $38.200 indirect materials) c. Accrued direct labor cost of $48.000 and indirect labor cost of $22.000. d. Depreciation recorded on factory equipment, $105,000 e. Other manufacturing overhead costs accrued during October, $130,000 The company applies manufacturing overhead cost to production using a predetermined rate of $5 per machine-hour. A total of 76.400 machine-hours were used in October g Jobs costing $514.000 according to their job cost sheets were completed during October and transferred to Finished Goods h Jobs that had cost $450,000 to complete according to their job cost sheets were shipped to customers'during the month. These jobs were sold on account at 36% above cost. Required: 1. Prepare journal entries to record the transactions given above. 2. Prepere T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35,000 Complete this question by entering your answers in the tabs below. Required I Required 2 Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select "Ne journal entry required in the first account field.) View transaction list Bosk Required 1 Required 2 Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select. The journal entry required" in the first account field.) Journal entry worksheet 5 0 70 4 A Raw materials purchased on account, $210,000. References Noster det befa edes Transaction General Journal Debit Credi View general journal Record entry Clear entry Book Prepare journal entries to record the transactions given above. If no entry is required for a transaction/event, select the pumal entry required in the first account field.). Journal entry worksheet < 1 2 3 H Pint References 5 6 7 89 Record the raw materials issued to production, $191,000 ($152,000 direct materials and $38,200 indirect materials). Note ter debits before credits Transaction General Jounal Debi Cred Cleary View general journal Record entry Required 2 > Block Journal entry worksheet < 1 2 3 4 5 6 7 8 9 Hint Print rences Record the entry for accrued direct labor cost incurred, $48,000; indirect labor cost incurred, $22,000. Note: Enter debits before credits. Transaction G General Journal Debit Credit Record entry Clear entry View general journal Required Required 2 > > required in the first account field.) obook Journal entry worksheet < 1 5 6 7 B 9 HOSE Print Depreciation recorded on factory equipment, $105,000. References Nut Enter debits before credes Transaction General Journal Debit Credit Record entry Clear entry View general journal Required 2 > Required 1 Required 2 Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select No journal entry required" in the first account field.) Journal entry worksheet B < Print 2 4 5 6 Other manufacturing overhead costs accrued during October, $130,000. Referen Transaction General Journal Debi Creat Hacord entry Cleary Required 2 > 4 Complete this question by entering your answers in the tabs befow Prepare journal entries to record the transactions given above. (If no entry is required for a transactorevent, select "No journal entry required in the first account field. Journal entry worksheet < 2 3 4 5 7 B The company applies manufacturing overhead cost to production on the basis of $5 per machine-hour. A total of 76,400 machine hours were recorded for October Transaction General Journal Dett Credit Record try Clear entry Required 2> Check my work 4 Complete this question by entering your answers in the tabs below P Prepere journal entries to record the transactions given above. If no entry is required for a tresectionvent, select y required in the first outfd) Journal entry worksheet < 3 Job costing $514,000 according to their job cost sheets were completed during October and transferred to Finished Goods General Jone D Creat Candy Required 2> Chack my work 4 Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select o jumal entry required in the first account held.) Journal entry worksheet " 6 . Second the cost of goods sold Record C Required> 4 Cumplete this question by entering your answers is the tabs below. Prepare journal entries to record the transactions given above. (If no entry is required for a trensaction/event, select y required in the first account field Journal entry worksheet < Record the sales on account B . 9 Transaction N2 General Journal Dib Csill Recorder Cleery Check my work 4 points Skipped eBook Hint > Print References The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $210,000 b. Raw materials used in production, $191,000 ($152,800 direct materials and $38.200 indirect materials) c. Accrued direct labor cost of $48,000 and indirect labor cost of $22.000 d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000 f. The company applies manufacturing overhead cost to production using a predetermined rate of $5 per machine-hour. A total of 76,400 machine-hours were used in October g Jobs costing $514,000 according to their job cost sheets were completed during October and transferred to Finished Goods h. Jobs that had cost $450,000 to complete according to their job cost sheets were shipped to customers'during the month. These jobs were sold on account at 36% above cost Required: 1. Prepare journal entries to record the transactions given above. 2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Manufacturing Overhead Work in Process DAINE ellook Hint Required: 1. Prepare journal entries to record the transactions given above. 2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevent transactions from above to each account Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35.000. Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 References Manufacturing Overhead Work in Process Debit Credit Debit Credit Beginning balance Beginning balance Ending balance Ending balance

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

Introduction To Management Accounting

Authors: Charles T. Horngren, Gary Sundum, Gary L. Sundem

8th Edition

0134870751, 978-0134870755

More Books

Students also viewed these Accounting questions