Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Enos Printing Corp, uses a job order cost system. The following data summarize the operations related to the frst quarter's production. 1. Materials purchased

Enos Printing Corp, uses a job order cost system. The following data summarize the operations related to the frst quarter's production. 1. Materials purchased on account $196,500, and factory wages incurred $92.80. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $36,440 $19,100 A21 44,920 22.800 A22 37,100 15,500 A23 40,970 27,100 General factory use 5,470 8,300 $164,900 $92,800 3. Manufacturing overhead costs incurred on account $51,800. 4. Depreciation on factory equipment $16,150. 5. Depreciation on the company's office building was $15,000. 6. Manufacturing overhead rate is 87% of direct labor cost. Jobs completed during the quarter. A20. A21, and A23. 7. Prepare a schedule showing the individual cost elements and total cost for each job in item 7. Prepare a schedule showing the individual cost elements and total cost for each job in item 7. Manufacturing Overhead Direct Direct Job Labor Total Materials A20 A21 A23 %24 not indent manually) 2UTomaticalny indented when amount s entered D No. Account Titles and Explanation Debit Credit (1) (To record materials purchases) (To record factory wages) (2) (To record materals put into production) (To record labor put into production) (3) (4) (5) (6) (7)

Step by Step Solution

3.50 Rating (163 Votes )

There are 3 Steps involved in it

Step: 1

answer No Account titles and explanation Debit Credit 1 Raw materials inventory 196500 Accounts paya... 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

Accounting Tools for business decision making

Authors: kimmel, weygandt, kieso

4th Edition

978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461

More Books

Students also viewed these Accounting questions

Question

How to Construct a Stem and Leaf Plot

Answered: 1 week ago