Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

in a job order costing system, raw material requisitioned as direct materials are debited to________; indirect materials are debited to_______. $139.000. Save Question 24 (2

image text in transcribed

image text in transcribed

image text in transcribed

in a job order costing system, raw material requisitioned as direct materials are debited to________; indirect materials are debited to_______.

$139.000. Save Question 24 (2 points) s Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195.000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150.000, paid in cash, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record payment of the factory payroll is: Debit Work in Process Inventory $150.000: credit Factory Wages Payable $150.000. Debit Work in Process Inventory $150000: credit Cash $150,000. Debit Factory Wages Payable $150,000: credit Cash $150,000. Debit Work in Process Inventory $110.000; debit Factory Overhead $40.000: credit Factory Wages Payable $150,000. Debit Work in Process Inventory $110,000; debit Factory Overhead $40,000: credit Cash $150,000. Save Question 25 (2 points)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

The Customer Base Audit The First Step On The Journey To Customer Centricity

Authors: Peter Fader, Bruce G.S. Hardie, Michael Ross

1st Edition

1613631618, 978-1613631614

More Books

Students also viewed these Accounting questions

Question

Discuss the states of accounting

Answered: 1 week ago

Question

1. Which position would you take?

Answered: 1 week ago