4-31 Job costing, accounting for manufacturing overhead, budgeted rates. The Fasano Company uses a job-costing system at its Dover, Delaware, plant. The plant has a machining department and a finishing department. Fasano uses normal costing with two direct-cost categories (direct materials and direct manu. facturing labor) and two manufacturing overhead cost pools (the machining department with machine- hours as the allocation base, and the finishing department with direct manufacturing labor costs as the allocation base). The 2011 budget for the plant is as follows: Manufacturing overhead costs Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Machining Department Finishing Department $10,660,000 o r $7,372,000 $ 940,000 kudoni $3,800,000 36,000 l b 145,000 205,000 32,000 equired 17-31 Journal entries (continuation of 17-30). Prepare a set of summarized journal entries for all October 2012 transactions affecting Work in Process- Assembly. Set up a T-account for Work in Process-Assembly and post your entries to it. 17-31 Journal entries (continuation of 17-30). Prepare a set of summarized journal entries for all October 2012 transactions affecting Work in Proces Assembly. Set up a T-account for Work in Process-Assembly and post your entries to it. 4-31 Job costing, accounting for manufacturing overhead, budgeted rates. The Fasano Company uses a job-costing system at its Dover, Delaware, plant. The plant has a machining department and a finishing department. Fasano uses normal costing with two direct-cost categories (direct materials and direct manu. facturing labor) and two manufacturing overhead cost pools (the machining department with machine- hours as the allocation base, and the finishing department with direct manufacturing labor costs as the allocation base). The 2011 budget for the plant is as follows: Manufacturing overhead costs Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Machining Department Finishing Department $10,660,000 o r $7,372,000 $ 940,000 kudoni $3,800,000 36,000 l b 145,000 205,000 32,000 equired 17-31 Journal entries (continuation of 17-30). Prepare a set of summarized journal entries for all October 2012 transactions affecting Work in Process- Assembly. Set up a T-account for Work in Process-Assembly and post your entries to it. 17-31 Journal entries (continuation of 17-30). Prepare a set of summarized journal entries for all October 2012 transactions affecting Work in Proces Assembly. Set up a T-account for Work in Process-Assembly and post your entries to it
