During June, Buttrey Corporation incurred $84.000 of Grect labor costs and $24,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a Multiple Choice debt to work in Process of 504.000 Cred to work in Process of SOB,000 o o debit to Work in Process of $100,000 o credit to Work in Process of 4000 Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's Inventory balances were as follows: $ 54,500 Raw materials Work in process Finished goods $ 44,100 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $12.50 per direct labor-hour was based on a cost formula that estimated $500,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year a. Raw materials were purchased on account, $614,000. b. Raw materials used in production, S567,600. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $450,000: Indirect labor, $150,000; selling and administrative salaries, $290,000. d. Incurred various selling and administrative expenses (eg., advertising, sales travel costs, and finished goods warehousing). $375,000. e. Incurred various manufacturing overhead costs (eg. depreciation, Insurance, and utilities). $350,000 1. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all Jobs during the year. g. Jobs costing $1,461,900 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3,172,500. The jobs cost $1,471,900 to. manufacture according to their job cost sheets Foundational 3-6 6. What is the journal entry to record the transfer of completed jobs that is referred to in item g above? (if no entry is required for transaction/event, select "No journal entry required" In the first account field.) View transaction list Journal entry worksheet Record the manufactured goods completed during this year. Wages paid to the supervisor of the warehouse where raw materials and parts are temporarily stored before being used in production is considered an example of Direct Labor Period Cost No Multiple Choice O Choice A Choice B Choice O Choice . Bunnell Corporation is a manufacturer that uses job-order costing On January 1, the company's Inventory balances were as follows: Raw materiais Work in process Finished goods $ 84,580 5 35,000 $ 44,100 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $12.50 per direct labor-hour was based on a cost formula that estimated $500,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year: a. Raw materials were purchased on account, $614,000 b. Raw materials used in production, $567,600. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services direct labor, $450,000: Indirect labor $150,000, selling and administrative salaries, $290,000. d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $375,000. e. Incurred various manufacturing overhead costs (eg, depreciation Insurance, and utilities). $350,000. 1. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all Jobs during the year. g. Jobs costing $1,461,900 to manufacture according to their job cost sheets were completed during the year h. Jobs were sold on account to customers during the year for a total of $3,172,500. The jobs cost $1.471.900 to manufacture according to their job cost sheets. Foundational 3-11 11. What is the journal entry to record the cost of goods sold referred to in item h above? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the cost of goods sold to the customer. Prey 24 of 29 Which of the following is NOT a period cost? Multiple Choice 0 Depreciation of factory maintenance equipment. 0 Salary of a clerk who handles customer billing. 0 O Insurance on a company showroom where customers can view new products. 0 O Cost of a seminar concerning tax law updates that was attended by the company's controller