need help plz with these 7 questions for accounting plz

Job Order Cost Accounting for a Service Company The law firm of furtan and Benson accumulates costs associaced wioh individual cases, using a job order coit ryte-, The following transactons occoured during July: Charged 630 hours of prolessional (lawyer) time to the Obsidian Ca. breech of contract why x suit to prepare for the triat, at a rate of $210 per hour. Reimbursed travel costs to employees for depositions nelated to the Cosidan case, is $24,900. Charged 130 hours of prolessional time for the Otwidian trial at a rate of $290 per 14 hour. Recelved invoice from consultants wadsley and Harden for \$66,100 for expert "testimony related to the Oosidan trial. Applied office overhead at a rate of 555 per proflessional hour charged to the Obsidian case. n. Faid administrative and supoot salaries of $29,700 for the month. in. Used office supplies for the month, $10,000. n. Faid professional salaries of $170,800 for the month. in Billed Obsidian \$345,800 for successtul defense of the case. a. Provide the joumal entries for each of these transactions, If ah amount bor does nat mouire an entrv. leave is blank: postive nomber undecapoled offict ovetheod is closed monewy ta dast of services. Predetermined Factory Overhead Rate Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: The average shop direct labor rate is $20.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. $ per direct labor hour Job Order Cost Accounting for a Service Company The law firm of Furtan and Benson accumulates costs assoclaced wich individual cases, using a job orter colt wate=, The following transactons occurred during July: Charged 630 hours of professienal (lawyer) time to the Obisdian Ca. breech of contract suit to prepare for the trial, at a rate of $210 per hour. neimbursed travel costs to employees for deposibions ratated to the cosidian case, is $24,900. Charged 130 hours of prolessional time for the Otwilian trial at a rate of $290 per is hour. Recelved invoice from consultants wadsley and Harden for $66,100 for expert " testimony related to the Obsidan trial. Applied office overhead at a rate of 55 per professionul hour charged to the Obsidian case. 11. Faid administrative and supoort salaries of $29,700 for the month. in. Used office supplies for the month, $10,000. in Faid professional salaries of $170,800 for the month. in. Billed Obsidian \$345,800 for successtul defense of the case. a. Provide the journal entries for each of these transactions. If an amount bor does not moulire an entrv. leave it blank: postive number Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Feedback a. Calculate the amount of each materials issue, using FIFO, In the Balance section, separate each ditferent unit price and its quantity. b. Determine the materials inventory balance at the end of May. Feedback romuren b. Casculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantify c. Journalize the summary entry to transfer materials to work in process, If an amount box does not require an entry, leave it blank. Feedback c. Increase work in process and decrease materials for the total of issuances found in Req, a. d. Comparing as reported in the materials ledger with predetermined order points would enable management to order materials before a(n) causes idle time. Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on April 1 from the materials ledger are as follows: The materials purchased during April on account are summarized from the receiving reports as follows: Materials were requisitioned to individual jobs as follows: The glue is not a significant cost, so it is treated as indirect materials (factory overhead). a. Journalize the entry to record the purchase of materials in April. If an amount box does not require an entry, leave it blank. Feedback rowen urm a. Increase materials inventory and a liability for the total of purchases. b. Journalize the entry to record the requisition of materials in April. If an amount box does not require an entry, leave it blank. Foedback b. Increase the work in process for direct materials for the Jobs and factory overhead for the indirect materials. c. Determine the April 30 balances that would be shown in the materials ledger accounts. 300 Order Cost Accounting for a Service Company The Fy Company provides advertising services for clients acress the nation. The fiy Compary is presently working on fos projects, eech for a different client. The fly Company accumulates costs for each accaunt (client) on the basis of bath direct conts and allocated indrect costs. The direct costs include the charged time of professions personnet and media surchases (air time and ad scocce). Overhead is allocated to each profect as a percentage of mpda piechases. The preoetirnmed overtuad rate is 60% of media purchases. ) On August 1, the four advertising projects had the fallowing accumulated costs: During August, The Fy Company incurred the follosing direct labor and media purchase costs related to preparing advertising for each of the four acceunts: At the end of Asigust, both the Vault Bank and Take Ot Airlines campagns were completed. The costs af completed campaigns are debited to the cost af services acceunt. a. Joumalize the summary entry to recond the dirtct labor costs for the month. If an amount bor does not require an entry, leave it blank. a. Increase the work in process for the direct costs and the applied overhend. Applled overhead should be bastd on mesia purchases. Tranther the cost of completed yos out of work-in-process ans inte the cest af services account. b. Journalise the summary entry to recsed the media purctases for the month. If an amount box does not require an entry, leave it biank. c. Joumalize the summary entry to record the overhead applied for the month. If an amount box does not require an entry, leave it blank. Foedback: c. Increase the work in process for the direct costs and the applied overhead. Applied overhead should be based on media purchases, Transfer the cost of completed jobs out of work-in-process and into the cost of services account. d. Joumaliue the summary entry to record the completion of Vault Bank and Take Off Airfines for the month. If an amount box does not require an entry, leave it blank. Financial Statements of a Manufacturing Firm The following events took place for Rushmore Biking Inc. during February, the first month of operations as a producer of road bikes: - Purchased $539,900 of materials. - Used $464,300 of direct materials in production. - Incurred $400,000 of direct labor wages. - Applied factory overhead at a rate of 80% of direct labor cost. - Transferred $1,136,900 of work in process to finished goods. - Sold goods with a cost of $1,074,400. - Revenues eamed by selling bikes, $1,923,200. - Incurred $462,000 of selling expenses. - Incurred $171,900 of administrative expenses. a. Prepare the income statement for Rushmore Biking Inc. for the month ending February 28. Assume that Rushmore Biking Inc. uses the perpetual inventory method. Feedback ronea my work a. Both product and period costs must be reported on the income statement and are necessary to measure income. b. Determine the inventory balances on February 28 , the end of the first month of operations. Entries for Factory Costs and jobs Completed Collegiate Publishing tinc. began printing operations on March 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and taber charged dinectly to the jobs, $1,370 of indirect materials and $16,570 of indirect labor were used during the month. The cost sheets for the four jobs entering production during the month are as foliows, in summary form: Journalize the summary entry to record each of the following eserations for March (one entry for each operation): a. Direct and indirect muterials used. If an amount box does not require an entry, leave it blank. a. Record direct materials conts in the Work in Process account, and indirect materials costs in the Factory Overhead account. b. Direct and indirect labor used. If an amount box does not require an entry, leave it blank. b. Record direct labor costs in the Work in Process account, and indirect labor costs in the factory Overhead account. c. Factiory ovethead asplied to all four yobs (a single overhead rate is used based on direct labor cost), If an amount box does not require an entry, leave it blank. d. Completion of Jobs 301 and 302 . If an amount box does not require an entry, leave it blank. Job Order Cost Accounting for a Service Company The law firm of furtan and Benson accumulates costs associaced wioh individual cases, using a job order coit ryte-, The following transactons occoured during July: Charged 630 hours of prolessional (lawyer) time to the Obsidian Ca. breech of contract why x suit to prepare for the triat, at a rate of $210 per hour. Reimbursed travel costs to employees for depositions nelated to the Cosidan case, is $24,900. Charged 130 hours of prolessional time for the Otwidian trial at a rate of $290 per 14 hour. Recelved invoice from consultants wadsley and Harden for \$66,100 for expert "testimony related to the Oosidan trial. Applied office overhead at a rate of 555 per proflessional hour charged to the Obsidian case. n. Faid administrative and supoot salaries of $29,700 for the month. in. Used office supplies for the month, $10,000. n. Faid professional salaries of $170,800 for the month. in Billed Obsidian \$345,800 for successtul defense of the case. a. Provide the joumal entries for each of these transactions, If ah amount bor does nat mouire an entrv. leave is blank: postive nomber undecapoled offict ovetheod is closed monewy ta dast of services. Predetermined Factory Overhead Rate Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: The average shop direct labor rate is $20.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent. $ per direct labor hour Job Order Cost Accounting for a Service Company The law firm of Furtan and Benson accumulates costs assoclaced wich individual cases, using a job orter colt wate=, The following transactons occurred during July: Charged 630 hours of professienal (lawyer) time to the Obisdian Ca. breech of contract suit to prepare for the trial, at a rate of $210 per hour. neimbursed travel costs to employees for deposibions ratated to the cosidian case, is $24,900. Charged 130 hours of prolessional time for the Otwilian trial at a rate of $290 per is hour. Recelved invoice from consultants wadsley and Harden for $66,100 for expert " testimony related to the Obsidan trial. Applied office overhead at a rate of 55 per professionul hour charged to the Obsidian case. 11. Faid administrative and supoort salaries of $29,700 for the month. in. Used office supplies for the month, $10,000. in Faid professional salaries of $170,800 for the month. in. Billed Obsidian \$345,800 for successtul defense of the case. a. Provide the journal entries for each of these transactions. If an amount bor does not moulire an entrv. leave it blank: postive number Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Feedback a. Calculate the amount of each materials issue, using FIFO, In the Balance section, separate each ditferent unit price and its quantity. b. Determine the materials inventory balance at the end of May. Feedback romuren b. Casculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantify c. Journalize the summary entry to transfer materials to work in process, If an amount box does not require an entry, leave it blank. Feedback c. Increase work in process and decrease materials for the total of issuances found in Req, a. d. Comparing as reported in the materials ledger with predetermined order points would enable management to order materials before a(n) causes idle time. Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on April 1 from the materials ledger are as follows: The materials purchased during April on account are summarized from the receiving reports as follows: Materials were requisitioned to individual jobs as follows: The glue is not a significant cost, so it is treated as indirect materials (factory overhead). a. Journalize the entry to record the purchase of materials in April. If an amount box does not require an entry, leave it blank. Feedback rowen urm a. Increase materials inventory and a liability for the total of purchases. b. Journalize the entry to record the requisition of materials in April. If an amount box does not require an entry, leave it blank. Foedback b. Increase the work in process for direct materials for the Jobs and factory overhead for the indirect materials. c. Determine the April 30 balances that would be shown in the materials ledger accounts. 300 Order Cost Accounting for a Service Company The Fy Company provides advertising services for clients acress the nation. The fiy Compary is presently working on fos projects, eech for a different client. The fly Company accumulates costs for each accaunt (client) on the basis of bath direct conts and allocated indrect costs. The direct costs include the charged time of professions personnet and media surchases (air time and ad scocce). Overhead is allocated to each profect as a percentage of mpda piechases. The preoetirnmed overtuad rate is 60% of media purchases. ) On August 1, the four advertising projects had the fallowing accumulated costs: During August, The Fy Company incurred the follosing direct labor and media purchase costs related to preparing advertising for each of the four acceunts: At the end of Asigust, both the Vault Bank and Take Ot Airlines campagns were completed. The costs af completed campaigns are debited to the cost af services acceunt. a. Joumalize the summary entry to recond the dirtct labor costs for the month. If an amount bor does not require an entry, leave it blank. a. Increase the work in process for the direct costs and the applied overhend. Applled overhead should be bastd on mesia purchases. Tranther the cost of completed yos out of work-in-process ans inte the cest af services account. b. Journalise the summary entry to recsed the media purctases for the month. If an amount box does not require an entry, leave it biank. c. Joumalize the summary entry to record the overhead applied for the month. If an amount box does not require an entry, leave it blank. Foedback: c. Increase the work in process for the direct costs and the applied overhead. Applied overhead should be based on media purchases, Transfer the cost of completed jobs out of work-in-process and into the cost of services account. d. Joumaliue the summary entry to record the completion of Vault Bank and Take Off Airfines for the month. If an amount box does not require an entry, leave it blank. Financial Statements of a Manufacturing Firm The following events took place for Rushmore Biking Inc. during February, the first month of operations as a producer of road bikes: - Purchased $539,900 of materials. - Used $464,300 of direct materials in production. - Incurred $400,000 of direct labor wages. - Applied factory overhead at a rate of 80% of direct labor cost. - Transferred $1,136,900 of work in process to finished goods. - Sold goods with a cost of $1,074,400. - Revenues eamed by selling bikes, $1,923,200. - Incurred $462,000 of selling expenses. - Incurred $171,900 of administrative expenses. a. Prepare the income statement for Rushmore Biking Inc. for the month ending February 28. Assume that Rushmore Biking Inc. uses the perpetual inventory method. Feedback ronea my work a. Both product and period costs must be reported on the income statement and are necessary to measure income. b. Determine the inventory balances on February 28 , the end of the first month of operations. Entries for Factory Costs and jobs Completed Collegiate Publishing tinc. began printing operations on March 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and taber charged dinectly to the jobs, $1,370 of indirect materials and $16,570 of indirect labor were used during the month. The cost sheets for the four jobs entering production during the month are as foliows, in summary form: Journalize the summary entry to record each of the following eserations for March (one entry for each operation): a. Direct and indirect muterials used. If an amount box does not require an entry, leave it blank. a. Record direct materials conts in the Work in Process account, and indirect materials costs in the Factory Overhead account. b. Direct and indirect labor used. If an amount box does not require an entry, leave it blank. b. Record direct labor costs in the Work in Process account, and indirect labor costs in the factory Overhead account. c. Factiory ovethead asplied to all four yobs (a single overhead rate is used based on direct labor cost), If an amount box does not require an entry, leave it blank. d. Completion of Jobs 301 and 302 . If an amount box does not require an entry, leave it blank