Question
I am stuck on part C, which is the factor overhead/work in process. See highlighted image Journe/ze the den. 31 summary entries to record each
I am stuck on part C, which is the factor overhead/work in process. See highlighted image
Journe/\ze the den. 31 summary entries to record each of the following operations for uenuery (one enfry for each operetionL Refer to the Chert of Accounts for exact wording of account titles. a. Direct and Indirect materials used. b. Direct and Indirect Gbor used. c Fectory overhead applied to ell four jobs (8 single overhead rate is used based on direct lebor cost) d. Completion of Jobs 301 end 302 How does sr_gdine work? 31 31 Jan. 31 31 Feedback JOURNAL DESCRIPTION Work in Process Factory Overhead Materials Work in Process Factory Overhead Wages Pey?ble Work in Process Factory Overhead Finished Goods Work in Process 10 Score: 118/125 68,400.00 7,000.00 75,400.00 53,600.00 11,200.00 64,800.00 72,384.00 72,384.00 points: 2266124 V Check My Work Record direct materials costs in the work in process account, and indirect materials costs in the factory overhead account Record direct labor costs in the work in process account, and indirect labor costs in the factory overhead account c. Apply factory overhead based on direct labor costs. d. When a iob is comoleted. it is transferred out of work-in-orocess and into finished aoods.
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