Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone please help me figure out how to finish this assignment? I can't figure it out. Required information Use the following information to answer

Can someone please help me figure out how to finish this assignment? I can't figure it out.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information Use the following information to answer questions. (Algo) [The following information applles to the questions displayed below] The following information is avallable for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Exercise 1513 (Algo) Recording materials; direct and indirect LO P1, P3 1. Raw materias purchoses for cash. 2. Direct materials used. 3. Indirect materals used. Prepare journal entries for the above transactions for the period. Required informotion Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below] The following information is avallable for AOT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Exercise 1514 (Algo) Recording direct and indirect labor LO P2, P3 1. Direct labor used (recorded os factory wages payable) 2. Indirect labor used (recorded as factory wages payable) Prepare journal entries for the above transactions for the period. Required information Problem 15-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below] Marco Company shows the following costs for three jobs worked an in April. Additional Information a. Raw Materials inventory has a March 31 balance of $84,000 b. Raw materials purchases in Aprit are $510,000, and total factory payroll cost in April is $373,000. c. Actual overhead costs incurred in April are indirect materials, \$52,500; indirect labor, \$25,500; factory rent, $34,500; factory utilities, $21,500; and factory equipment depreciation, $53,500 d. Predetermined overhead rate is 50% of direct labor cost: e. Job 306 is sold for $645,000 cash in April Problem 15-2A (Algo) Part 2 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31 ). a. Materlals purchases (on credit). b. Direct materials used c. Direct labor used (and paid in cash) and assigned to Work in Process Inventory. d. Ind rect materials used and assigned to Factory Overhead. e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work in Process Inventory. 9. Actual other overhead costs incurred (Factory rent and utinties are paid in cash). h. Transfer of Jobs 306 and 307 to Finished Goods Inventory. 1. Cost of goods sold for Job 306 . 1. Revenue from the sale of Job 306 recelved in cash, k. Close underapplied or overapplied overhead to the Cost of Goods Sold account: 3. Prepare joumal entries for the month of April to record the above transactions. Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below] The following information is avallable for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applled using a predetermined overhead rate of 55% of direct labor cost. Exercise 1515 (Algo) Recording actual and applied overhead LO P3 1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process Prepare journal entries for the above transactions for the period. Required information Problem 15-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below] Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $510,000, and total factory payroll cost in April is $373,000. c. Actual overhead costs incurred in April are indirect materials, $52,500; indirect labor, $25,500; factory rent, $34,500; factory utilities, $21,500; and factory equipment depreciation, $53,500. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $645,000 cash in April. Problem 15-2A (Algo) Part 4 4. Prepare a schedule of cost of goods manufactured for the month ended April 30

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

More Books

Students also viewed these Accounting questions

Question

5. Structure your speech to make it easy to listen to

Answered: 1 week ago

Question

1. Describe the goals of informative speaking

Answered: 1 week ago