Answered step by step
Verified Expert Solution
Question
1 Approved Answer
During October, Beidleman Inc. transferred $63,600 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $69,120. The journal entries
During October, Beidleman Inc. transferred $63,600 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $69,120. The journal entries to record these transactions would include a: credit to Finished Goods of $63,600 credit to Cost of Goods Sold of $69,120 credit to Work in Process of $63,600 debit to Finished Goods of $69,120 Job 593 was recently completed. The following data have been recorded on its job cost sheet: $2,422 Direct materials Direct labor-hours Direct labor wage rate Machine-hours 76 labor-hours $ 15 per labor-hour 137 machine-hours The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $16 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 593 would be: $6,594 $5,754 $3,078 $3,562
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