Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NOW2 Online teacher. x + Assignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator &inprogress=false Calculator Entries and schedules for Undinished Jobs and Completed Jobs to production for April, the first

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
NOW2 Online teacher. x + Assignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator &inprogress=false Calculator Entries and schedules for Undinished Jobs and Completed Jobs to production for April, the first month of operations: Hidreth Company uses a job order cost system. The following data summarize the operations relate 2. Materials purchased on account, $2,850 b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $180 $2,700 102 2.290 3,650 100 5,150 3,270 1,780 6,700 5,100 For general factory use 640 4,000 c. Factory overhead costs incurred on account, $3,590 d. Depreciation of machinery and equipment, $1,920. e. The factory overhead rate is $65 per machine hour Machine hours used: Job No. Machine Hours 103 104 105 Check My Work All work saved Email Instructor Save and Exit VOW2 Online teachi X + ssignment/takeAssignment Main.doinvoker=&takeAssignmentSession Locatorinprogress=false eBook Calculator Printem Job No. Machine Hours 101 102 104 105 106 Total E Jobs completed: 101, 102, 103, and 105. 9. Jobs were shipped and customers were billed as follows: Job 101, $8,300; Job 102, $10.480; lob 105, $14,090 Required: 1. Journalize the entries to record the summarized operations. For a compound transaction, an amount box does not require an entry Entries Description Debit Credit Materials Accounts Payable Work in Process Factory Overhead Materials Wages Payable Check My Work Email Instructor Save and t All work saved CengageNOWV2 Online teachi X + .com/ilm/take Assignment/takeAssignment Main.do?invokertakeAssignmentSessionLocator=&inprogress=false eBook Calculator Print Item Description Debit Credit Materials Accounts Payable Work in Process Factory Overhead Materials Wages Payable Factory Overhead Accounts Payable Factory Overhead Accumulated Depreciation Machinery and Equipment HOTLI Work in Process Factory Overhead Finished Goods Work in Process Check My Work All work saved. Assignmentrakotssignment Mando?nvokerStake AssignmentSessionLocator Sincrogress=false Work in prece Factory Overhead Work in Proces Sale Accounts Recetrable Sales Cost al Goods Sold 2. Post the protes to for Works Process and the Gods, using Work in Preces Net Check My Work Submign for Grad A NOW2 Online Sach x + ake Assignment/takeAssignment Main.do?invokert signmentSession Locator Binrogestas ebook 2. Post the appropriate entries to accounts for Work the month Process and wished Goosing the w ing letters and codes that mema n g Work in Process Finished Goods 3. Prepare a schedule of unfinished yobs to support the balance in the work in Hidreth Company Schedule of Unfinished Jobs Factory Direct Labor C Total Materials had Balance of Work in Process, Art 30 Od My Work Email to send a B ASE engageNOW2 Online teachinx + takeAssignment/takeAssignment Main.do?invokerStake AssignmentSession Locatorinprogress false eBook Calculator Print Item 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account Hildreth Company Schedule of Completed Jobs Direct Materials Direct Labor Factory Overhead Total Finished Goods, April 30 (Job 103) $ Feedback Check My Work 1a & Materials are recorded in the Materials Inventory account until requisitioned All direct costs materials and labor are recorded in the Work in Process account. All indirect costs are considered overhead and are recorded in the Factory Overhead account Overhead is applied to Work in Process using a predetermined overhead rate The cost of completed jobs should be moved to the Finished Goods account The cost of sold jobs should be moved to the Cost of Goods Sold account 2. Post entries to the Work in Process T account and to the Finished Goods T account 3. Include the direct materials, direct labor and factory overhead for each unfinished job 4 Include the direct materials direct labor, and factory overhead for each finished job Check My Work All work saved NOW2 Online teacher. x + Assignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator &inprogress=false Calculator Entries and schedules for Undinished Jobs and Completed Jobs to production for April, the first month of operations: Hidreth Company uses a job order cost system. The following data summarize the operations relate 2. Materials purchased on account, $2,850 b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $180 $2,700 102 2.290 3,650 100 5,150 3,270 1,780 6,700 5,100 For general factory use 640 4,000 c. Factory overhead costs incurred on account, $3,590 d. Depreciation of machinery and equipment, $1,920. e. The factory overhead rate is $65 per machine hour Machine hours used: Job No. Machine Hours 103 104 105 Check My Work All work saved Email Instructor Save and Exit VOW2 Online teachi X + ssignment/takeAssignment Main.doinvoker=&takeAssignmentSession Locatorinprogress=false eBook Calculator Printem Job No. Machine Hours 101 102 104 105 106 Total E Jobs completed: 101, 102, 103, and 105. 9. Jobs were shipped and customers were billed as follows: Job 101, $8,300; Job 102, $10.480; lob 105, $14,090 Required: 1. Journalize the entries to record the summarized operations. For a compound transaction, an amount box does not require an entry Entries Description Debit Credit Materials Accounts Payable Work in Process Factory Overhead Materials Wages Payable Check My Work Email Instructor Save and t All work saved CengageNOWV2 Online teachi X + .com/ilm/take Assignment/takeAssignment Main.do?invokertakeAssignmentSessionLocator=&inprogress=false eBook Calculator Print Item Description Debit Credit Materials Accounts Payable Work in Process Factory Overhead Materials Wages Payable Factory Overhead Accounts Payable Factory Overhead Accumulated Depreciation Machinery and Equipment HOTLI Work in Process Factory Overhead Finished Goods Work in Process Check My Work All work saved. Assignmentrakotssignment Mando?nvokerStake AssignmentSessionLocator Sincrogress=false Work in prece Factory Overhead Work in Proces Sale Accounts Recetrable Sales Cost al Goods Sold 2. Post the protes to for Works Process and the Gods, using Work in Preces Net Check My Work Submign for Grad A NOW2 Online Sach x + ake Assignment/takeAssignment Main.do?invokert signmentSession Locator Binrogestas ebook 2. Post the appropriate entries to accounts for Work the month Process and wished Goosing the w ing letters and codes that mema n g Work in Process Finished Goods 3. Prepare a schedule of unfinished yobs to support the balance in the work in Hidreth Company Schedule of Unfinished Jobs Factory Direct Labor C Total Materials had Balance of Work in Process, Art 30 Od My Work Email to send a B ASE engageNOW2 Online teachinx + takeAssignment/takeAssignment Main.do?invokerStake AssignmentSession Locatorinprogress false eBook Calculator Print Item 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account Hildreth Company Schedule of Completed Jobs Direct Materials Direct Labor Factory Overhead Total Finished Goods, April 30 (Job 103) $ Feedback Check My Work 1a & Materials are recorded in the Materials Inventory account until requisitioned All direct costs materials and labor are recorded in the Work in Process account. All indirect costs are considered overhead and are recorded in the Factory Overhead account Overhead is applied to Work in Process using a predetermined overhead rate The cost of completed jobs should be moved to the Finished Goods account The cost of sold jobs should be moved to the Cost of Goods Sold account 2. Post entries to the Work in Process T account and to the Finished Goods T account 3. Include the direct materials, direct labor and factory overhead for each unfinished job 4 Include the direct materials direct labor, and factory overhead for each finished job Check My Work All work saved

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

Computer Accounting With QuickBooks 2021

Authors: Donna Kay

20th Edition

1264069197, 9781264069194

More Books

Students also viewed these Accounting questions

Question

=+What needs to be said first?

Answered: 1 week ago

Question

=+You couldn't expect more from a cow, could you?

Answered: 1 week ago