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can someone please help with managerial accounting homework attached Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has

can someone please help with managerial accounting homework attached

image text in transcribed Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,130 and two jobs in process: Job No. 429 $2,370, and Job No. 430 $1,760. During May, a summary of source documents reveals the following. Job Number Materials Requisition Slips Labor Time Tickets 429 $3,090 $2,080 430 3,960 3,310 431 4,820 General use $11,870 8,180 $13,570 960 1,320 $12,830 $14,890 Stine Company applies manufacturing overhead to jobs at an overhead rate of 69% of direct labor cost. Job No. 429 is completed during the month. Don't show me this message again for the assignment Prepare summary journal entries to record (1) the requisition slips, (2) the time tickets, (3) the assignment of manufacturing overhead to jobs, and (4) the completion of Job No. 429. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) No . Date (1) May 31 (2) 31 (3) 31 Account Titles and Explanation Debit Credit (4) 31 Don't show me this message again for the assignment Post the entries to Work in Process Inventory, and prove the agreement of the control account with the job cost sheets. (Post entries in the order of journal entries presented in the previous part. Round answers to 0 decimal places, e.g. 5,275.) Work in Process Inventory Job Cost Sheets Job Beginning Work No. in Process $ 430 Direct Material Manufacturin g Overhead Direct Labor $ $ $ $ $ Total $ 431 $ Don't show me this message again for the assignment Exercise 20-7 $ $ Crawford Corporation incurred the following transactions. 1. 2. 3. 4. 5. 6. 7. 8. 9. Purchased raw materials on account $53,300. Raw Materials of $36,300 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,500 was classified as indirect materials. Factory labor costs incurred were $60,200, of which $50,800 pertained to factory wages payable and $9,400 pertained to employer payroll taxes payable. Time tickets indicated that $55,300 was direct labor and $4,900 was indirect labor. Manufacturing overhead costs incurred on account were $82,500. Depreciation on the company's office building was $8,700. Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $98,300 were completed and transferred to finished goods. Finished goods costing $84,400 to manufacture were sold on account for $107,200. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. (1) (2) (3) (4) Account Titles and Explanation Debit Credit (5) (6) (7) (8) (9) (To record the sale) (To record the cost of the sale) Exercise 20-13 Tombert Decorating uses a job order cost system to collect the costs of its interior decorating business. Each client's consultation is treated as a separate job. Overhead is applied to each job based on the number of decorator hours incurred. Listed below are data for the current year. Estimated overhead Actual overhead Estimated decorator hours Actual decorator hours $1,000,000 $1,080,800 40,000 40,700 The company uses Operating Overhead in place of Manufacturing Overhead. Don't show me this message again for the assignment Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 25.57%.) $ Predetermined overhead rate per decorator hour Don't show me this message again for the assignment Prepare the entry to apply the overhead for the year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal place, e.g. 55.) Account Titles and Explanation Debit Credit Don't show me this message again for the assignment Link to Text Link to Text Determine whether the overhead was under- or overapplied and by how much. $ Overhea d Don't show me this message again for the assignment Brief Exercise 21-1 Warner Company purchases $50,700 of raw materials on account, and it incurs $63,400 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 (To record raw materials purchased) 31 (To record factory labor costs) Don't show me this message again for the assignment Brief Exercise 21-2 Warner Company purchases $52,500 of raw materials on account, and it incurs $62,200 of factory labor costs. Supporting records show that (a) the Assembly Department used $32,700 of raw materials and $42,200 of the factory labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 (To record materials used) 31 Debit Credit (To assign factory labor to production) Brief Exercise 21-3 Warner Company purchases $52,500 of raw materials on account, and it incurs $61,600 of factory labor costs. Supporting records show that (a) the Assembly Department used $24,900 of raw materials and $37,900 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Mar.31 Don't show me this message again for the assignment

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