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I need help on required 1) h2 and required 2) whole chart The Polaris Company uses a job-order costing system. The foliowing transactions occurred in
I need help on required 1) h2 and required 2) whole chart
The Polaris Company uses a job-order costing system. The foliowing transactions occurred in October: a. Raw materials purchased on account, $209,000 b. Raw materials used in production, $191,000 ( $152,800 direct moterials and $38,200 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs actrued during October, $130,000 1. The company applies manufacturing overhesd cost to production using a predetermined rate of $6 per machine-hout. A total of 76,200 machine hours were used in October. 9. Jobs costing $512,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that hod cost $450,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 32% above cost. Required: 1. Prepare journal entries to record the transactions given above. 2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account Compute the ending balance in eoch account, assuming thet Work in Process has a beginning balance of $34,000. Complete this question by entering your answers in the tabs below. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from abeve to each account. Compute the each account, assuming that Work in Process has a beginning balance of $34,000. View transaction tist Vew journal entry worksheet Required: 1. Prepare journal entries to recotd the transactions given obove, 2. Prepare T-accounts for Mantacturing Qverhead and Work in Process. Post the relevant transactons trom abovo to each account Compute the ending balance in eech account assuming that Work in Process tyas a beginning balance of $34, Dod Complete this question by entering your answers in the tabs below. Prepare T-accounts for Manufacturing Overthead and Work in Process. Post the relevant transactions from above to each account Campute te each account, assuming that Work in Process has a beginning balance of 534,000 Step by Step Solution
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