Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Chart of Accume Factory Overhead General Journal Cevy Company metal factory costs wil be 1000.0 the year. Direct laber hours are estimated to be 100,000
Chart of Accume Factory Overhead General Journal Cevy Company metal factory costs wil be 1000.0 the year. Direct laber hours are estimated to be 100,000 Requir Amount of factory overheat applied to Job 34 the amount of direct labor hos is 560 and Job 777 the amount of direct labor hour Prepare the journal entry to apply tactory overhead for Aprt according to the predetermined Factory Overhead (1) Determine the predetermined factory overhead rate. Found your answer to Predeemed factory overhead te Damine the amount of factory overhead applied to Job 345 the amount of direct labor hours in 560 and Job 777 the amount of director hours 800 Jb345 Job 777 General Jou (b) Prepare the journal entry to apply factory overhead for April 30 according to the predetermined overhead rate. Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL DATE DESCRIPTION POST A DEBIT CREDIT FMyPortal-Foothill-De Anza Community College District Chart of Accounts CHART OF ACCOUNTS Cavy Company General Ledger ASSETS 110 Cash 121 Accounts Receivable 131 Materials 133 Work in Process 135 Factory Overhead 137 Finished Goods 141 Supplies 142 Prepaid Expenses 181 Land 190 Factory Equipment 191 Accumulated Depreciation REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Insurance Expense 532 Utilities Expense 533 Office Supplies Expense 560 Depreciation Expense 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilities Payable 251 Wages Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started