Question
I'm confused, Please help. A) Wowza Corporation manufactures party supplies and uses a predetermined overhead. The CFO has estimated total manufacturing costs to be $108,500,
I'm confused, Please help.
A) Wowza Corporation manufactures party supplies and uses a predetermined overhead.
The CFO has estimated total manufacturing costs to be $108,500, and the activity driveris direct labor hours, which are estimated to be 62,000 hours.
The following beginning balances are below:
Work in Process
$19,800
Finished Goods
$37,100
Journal entry:Raw materials purchased were $134,700 and put on the account.
B)
Wowza Corporation manufactures party supplies and uses a predetermined overhead.
The CFO has estimated total manufacturing costs to be $108,500, and the activity driveris direct labor hours, which are estimated to be 62,000 hours.
The following beginning balances are below:
Work in Process
$19,800
Finished Goods
$37,100
Journal entry: Raw materials were requisitioned; direct materials were 75% of the total $121,800.
C)
Wowza Corporation manufactures party supplies and uses a predetermined overhead.
The CFO has estimated total manufacturing costs to be $108,500, and the activity driveris direct labor hours, which are estimated to be 62,000 hours.
The following beginning balances are below:
Work in Process
$19,800
Finished Goods
$37,100
Journal entry: Rent expense was paid for $37,600; the factory allocation is 45%.
D)
Wowza Corporation manufactures party supplies and uses a predetermined overhead.
The CFO has estimated total manufacturing costs to be $108,500, and the activity driveris direct labor hours, which are estimated to be 62,000 hours.
The following beginning balances are below:
Work in Process
$19,800
Finished Goods
$37,100
Journal entry: Depreciation for the year was $48,000; the factory allocation is 86%; the remainder
is allocated to the administrative department.
E)
Wowza Corporation manufactures party supplies and uses a predetermined overhead.
The CFO has estimated total manufacturing costs to be $108,500, and the activity driveris direct labor hours, which are estimated to be 62,000 hours.
The following beginning balances are below:
Work in Process
$19,800
Finished Goods
$37,100
Journal entry: The utilities were paid. The total is $16,000 and the administrative allocation is 27%, and the remainder is allocated to production.
F)
Wowza Corporation manufactures party supplies and uses a predetermined overhead.
The CFO has estimated total manufacturing costs to be $108,500, and the activity driveris direct labor hours, which are estimated to be 62,000 hours.
The following beginning balances are below:
Work in Process
$19,800
Finished Goods
$37,100
Journal entry for salaries and wages:
The factory labor salaries are $87,000 and the direct labor hours worked were 68,000 (hours).
The factory supervisor's salary is $27,400, and the total administrative salaries are $102,000
G)
Wowza Corporation manufactures party supplies and uses a predetermined overhead.The CFO has estimated total manufacturing costs to be $108,500, and the activity driveris direct labor hours, which are estimated to be 62,000 hours.
The following beginning balances are below:
Work in Process
$19,800
Finished Goods
$37,100
Prepare these journal entries:
#1) Manufacturing overhead was applied using 68,000 direct labor hours.
#2) Seventy-five percent of Work in Process was transferred to the Finished Goods department.
Two journal entries.
H)
Wowza Corporation manufactures party supplies and uses a predetermined overhead.
The CFO has estimated total manufacturing costs to be $108,500, and the activity driveris direct labor hours, which are estimated to be 62,000 hours.
The following beginning balances are below:
Work in Process
$19,800
Finished Goods
$37,100
Journal entry: Ninety percent of the amount in Finished Goods is transferred to Cost of Goods Sold.
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