Homework: HW Ch3 HW Score: 41.86%, 4.19 of 10 pts 4 of 7 (5 Score: 0.21 of 1 pt E3-26A (similar to) not the Alba's Debit 22,000 Property Tax Payable 11,500 HW Score: hours require r theData Table ment was act cturing over the 73,750 Machine hours clude explana al At the end of the year, the company had actually incurred the following: Direct labor cost Depreciation on manufacturing plant and 1,200,000 470,000 22,000 24,000 14,000 11,500 equipment Property taxes on plant. Sales salaries.... Delivery drivers' wages. S Plant janitors' wages Machine hours. al irst, then credit 56,000 hours Print Done Clear Alf next, go to your Study Plan 20 HW Score: 4 of 7 (5 complete) ar to) ermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours require d to incur the following: he costs.) error in the expense records from the year reported. Depreciation on manufacturing plant and equipment was act over Requirements ents plan 1. Prepare the journal entry to record manufacturing overhead costs incurred 2. Prepare the journal entry to record the manufacturing overhead allocated to jobs in production. overallocated and by how much overhead 3. Use a T-account to determine whether manufacturing overhead is underallocated or 4. Record the entry to close out the underallocated or overallocated manufacturing 5. What is the adjusted ending balance of Cost of Goods Sold? urnng nulat rty Ta s Pa the Print Done n credit Journal Entry enter any number in the input fields and then click Check Answer Clear All Check o study next, go to your Study Plan https://www.mathxl.com/Student/playerHomework.aspx?homeworkid-525639782&questionld-5&flushed.true8 2019SP-BUS-121-4800-Managerial Accounting Homework: HW Ch3 Score: 0.24 of 2 pts angela ha 5 of 7 (5 complete) Hw s E3-27A (similar to) The following transactions were incurred by Keystone Fabricators during January, the first month of its fiscal year (Click the lcon to view the transactions.) Requirements 1. Reoord the proper journal entry for each transaction 2. By the end of January, was manufacturing overhead overallocated or underallocated? By how much? a. $185,000 of materials was purchased on account. Record the entry. (Record debits first, then credits. Exclude explanations from an Journal Entry Date Accounts Debit Credit a. Raw Materials inventory 185,000 Accounts Payable 185,000 b. $178.000 of materials was used in production; of this amount, $155,000 were used on specific jobs. Record the entry Journal Entry Date Debit Credit b. Work in Process Inventory Manufanturine Overhea Choose from any list or enter any number in the input fields and then click Check Answer 5 Pamaning Clear All To see what to study next, go to your Study Plan. HW r Scor incurred by Keystone Fabricators during January, the first month of its fiscal year. ansactions.) ry anuf More Info any jour $185,000 of materials was purchased on account. $178,000 of materials was used in production; of this amount, $155,000 was used on specific jobs. a. b. Inver c. Manufacturing labor and salaries for the month totaled $205,000. A total of $175,000 of manufacturing labor and salaries was traced to specific jobs, and the remainder was indirect labor used in the factory The company recorded $24,000 of depreciation on the plant and plant equipment. The company also received a plant utility bill for $9,000 which will be paid at a later date. $80,000 of manufacturing overhead was allocated to specific jobs. d. sed ine. f. The company received a bill for CAD design services for $7,000 Print Done ess Inv any number in the input fields and then click Check Answer Clear All Che udy next. go to your Study Plan 20
