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just the second part b Prepare the necessary journal entries to summarize the March transactions for production department 1.Materials purchase on account 2.Direct Materials used
just the second part
b Prepare the necessary journal entries to summarize the March transactions for production department
1.Materials purchase on account
2.Direct Materials used in the production
3.Direct Manufacturing labor costs incurred for each
4.Actual manufacturing overhead allocated to all the jobs in the production department
5. Write off the difference between allocated and actual overhead to Cost of Good Sold.
A matched PROBLEM podem Department. The bugeted manufactured for the month we W800 Required Determine the budgeted manufacturing overhead for the production department Manufacturing overhead rate Department 5 Manufacturing overtad allocated to all the jobs in the production department 6. Write off the difference between allocated and actual overhead directly to Cont of Goods Sold The actual machine-hours used in the production department was 3,800 machine hours. The actual costs incurred in the production department was as follows: 32,500 11,000 Production Department 1. Materials purchased on account $110,000 2. Direct materials used 3. Direct manufacturing labor 52,500 4. Indirect manufacturing labor 5. Indirect materials used 7.500 6 Lease on equipment 16,250 7. Utilities 1,000 8. Other manufacturing overhead 20,000 Job A incurred 800 machine-hours in production Department. The actual dired materials used was $12,000 and the direct manufacturing labor costs incurred wa $8,000. The company has been using the normal costing system and uses a budget overhead rate for applying overhead to production. c. What is the total estimated cost of Job A? b. Prepare the necessary journal entries to summarize the March transactions for production Department 1. Materials purchased on accountStep by Step Solution
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