Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NEED THESE ANSWERED IN THE NEXT 10 MINUTES Bloom Flower Company makes artificial flowers and for the month of July reports the following information 51,000

NEED THESE ANSWERED IN THE NEXT 10 MINUTES
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Bloom Flower Company makes artificial flowers and for the month of July reports the following information 51,000 Purchase of materials, on account Materials requisition: Direct materials 42,300 500 Indirect materials Labor incurred (not yet paid); Direct Labor Indirect Labor 20,300 1,340 Using the dropdown boxes, journalize the purchase of raw materials on account. [Select) Select Select 1 Select Bloom Flower Company makes artificial flowers and for the month of July reports the following information Purchase of materials, on account 51,000 Materials requisition: Direct materials 42,300 Indirect materials 500 Labor incurred (not yet paid): Direct Labor 20,300 Indirect Labor 1.340 Using the dropdown boxes, journalize the entry to record raw materials used in production Select] 42.300 Manufacturing Overhead 500 Raw Materials Inventory 42.800 Bloom Flower Company makes artificial flowers and for the month of July reports the following information 51,000 Purchase of materials, on account Materials requisition: Direct materials Indirect materials Labor incurred (not yet paid): Direct Labor Indirect Labor 42.300 500 20,300 1,340 Using the dropdown boxes, journalize the entry to record labor incurred in production Work in Process Inventory 20.300 Accounts Payable 1.340 Wages Payable 21,640 Bloom Flower Company makes artificial flowers and allocates manufacturing overhead based on estimated direct labor hours Selected cost data for the year are as follows: Estimated manufacturing cost for the year 125,000 Estimated direct labor cost for the 78,125 year Actual manufacturing cost for the 116,000 year Actual direct labor cost for the 68,235 year Complete the formula to calculate predetermined overhead allocation rate per direct labor dollar Select) Select Using the above formula, what is the predetermined allocation rate per direct labor dollar based on the data in the table above? Select Using the dropdown boxes below, journalize the entry to allocate overhead for the year. Select Select Select Select)

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

Managerial Accounting

Authors: Morse Hartgraves

8th Edition

1618532359, 9781618532350

More Books

Students also viewed these Accounting questions

Question

Describe five of G. Stanley Halls major achievements.

Answered: 1 week ago

Question

6. Explain what causes unsafe acts.

Answered: 1 week ago