Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4 e) Actual overhead costs for the month mount to $42000. Overhead costs has not been paid in cash yet, will be paid later. Credit

image text in transcribed

4 e) Actual overhead costs for the month mount to $42000. Overhead costs has not been paid in cash yet, will be paid later. Credit Cr Debit Manufacturing, Overhead Accounts baxable Db $42,000 $42,000 f) Overhead is applied to jobs at a rate of 120% direct labor cost Calculations: 120/100 x 24000=$28,800 Cr Debit Credit Work in process inventory Manufacturing Overhead. Db $28,800 $28,800 g) Jobs with total accumulated costs of $105000 were completed during the month Debit Credit DbCr c4/ h) During January, 50 units costing $25 per unit were sold on account for selling price of $35 per unit. Calculations: Debit Credit Db Cr Debit Credit Db Cr ) Vack in processioventory had a beriwning balance of $25,000 in laquetx Calculate the ending balance of work in process inventory at the end of Januarx Calculations

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

Monitoring And Auditing Practices For Effective Compliance

Authors: John E. Steiner

2nd Edition

0977843017, 978-0977843015

More Books

Students also viewed these Accounting questions

Question

Understand the different approaches to job design. page 167

Answered: 1 week ago