BACKGROUND: Nylon workers (190 dlh*$12/dlh); Cotton workers (350 dlh*$16/dlh); Janitor wages (200 hours for a total of $2,000) Accountant (200 hours for a total of $2,000). Abbott paid the following bills in cash Fisher Properties for rent $500 We Energies for utilities $18,000
3 QUESTIONS BELOW:
5.Give the journal entry to APPLY overhead in January for BOTH VOH and FOH. Nylon jogging workers used 180 machine hours and cotton jogging suit workers used 620 machine hours
6. Create the different MOH/VOH and MOH/FOH clearing accounts. Indicate if the individual moh taccounts are OVER- or UNDER-applied. SHOW YOUR WORK. AND CONTINUE FROM YOUR PRIOR MOH-T ACCOUNTS SINCE YOU DID NOT CLOSE THE MOH CLEARING ACCOUNTS IN JANUARY.
7. CALCULATE -BUT DO NOT JOURNALIZE - THE VOH VARIANCES FOR FEBRUARY. REMEMBER, THESE ARE CALCULATED MONTHLY.BUT NOT JOURNALIZEDSO simply calculate them and ISOLATE them for the MONTH OF
only answer 5 6 & 7 thanks!
RESULTS FOR FEBRUARY 1. Abbott workers requisitioned out the following materials: 110 yards of nylon/300 yards of cotton ASC workers made 40 nylon jogging suits and 80 cotton jogging suits in February Give the appropriate joumal entry and any associated variances 2. Abbott workers worked the following hours (and were paid in cash). Nylon workers (190 dlh$12/01h); Cotton workers (350 dlh*$16/dlh); Janitor wages (200 hours for a total of $2,000) Accountant (200 hours for a total of S2,000). Give the appropriate joumal entry and any associated variances 3. Abbott paid the following bills cash - give the appropriate journal entry Fisher Properties for rent S500 We Energies for utilities $18,000 4. Abbott has a sewing machine that was purchased in 2018 for $40,000, with a useful life of 10 years and a salvage value of 0. Give the MONTHLY depreciation journal entry for this machine. 5. Give the joumal entry to APPLY overhead in January for BOTH VOH and FOH Nylon jogging workers used 180 machine hours and cotton jogging suit workers used 620 machine hours 6. Create the different MOH/VOH and MOH/FOH clearing accounts. Indicate if the individual mob - accounts are OVER-or UNDER-applied. SHOW YOUR WORK AND CONTINUE FROM YOUR PRIOR MOH-TACCOUNTS SINCE YOU DID NOTCLOSE THE MOH CLEARING ACCOUNTS IN JANUARY 7. CALCULATE - BUT DO NOT JOURNALIZE - THE VOH VARIANCES FOR FEBRUARY. REMEMBER, THESE ARE CALCULATED MONTHLY...BUT NOT JOURNALIZED...SO simply calculate them and ISOLATE them for the MONTH OF FEBRUARY LATER ON. WE WILL COMPUTE AND JOURNALIZE these on an annual basis! 8. During FEBRUARY.ASC sells the following: 45 nylon jogging suits for S230ylon jogging suits ON ACCOUNT and 70 cotton jogging suits for S220 cotton jogging suit. Give the journal entry. Abbott Suit (ASC) corporation manufactures BOTH nylon AND cotton jogging suits. On 1/1/20, Erin Rogers ESTIMATES the following fixed costs: Accountant's salary $10,000 Depreciation on factory equipment $4,000 Rent on Manufacturing Facility $6,000 $20,000 ABBOTT SUIT CORPORATION USES DIRECT LABOR HOURS TO ALLOCATE DEPRECIATION AND RENT Nylon Jogging Suits Cotton Jogging Suits Std.ly/suit Std.price/input Std.qty/suit Std.price/input Direct Materials 2.5 vdesmit 1 CI