Please help me answer and explain these three questions. Thanks.
education.wiley.com Mi Inbox (1,550) -... O HNME_01... Student Dashb.. C My Overview |.. We Chapter 15 Ho. WP NWP Assessm. Week 2 - Sout. Course Hero + - Chapter 15 Homework Question 1 of 5 - f 3 E (a) On the basis of the foregoingdata, answer the following questions. [1) Whatwas the balance in Work in Process Inventory on January 1 if this was the only unnishedjob? Balance in Work in Process Inventory on January 1 $ [2) If manufacturing overhead is applied on the basis of direct labor cost. what overhead rate was used in each year? [Round answers to 0 decimal places, e.g. 55%.] Last year Cu rrent year Overh ead rate % 96 [b] Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Amount Titles and Explanation Debit Credit Jan.31 (To record raw materials used) 31 education.wiley.com Mi Inbox (1,550) -... O HNME_01... Student Dashb. C My Overview |.. We Chapter 15 Ho. WP NWP Assessm. Week 2 - Sout. Course Hero + - Chapter 15 Homework Question 1 of 5 = D i educationmilemcom C m ET] 6 Chapter 15 Homework Question 2 of 5 - f 3 E Current Attempt in Progress Crawford Corporation incurred the fol lowing transactions. 1. Purchased raw materials on account $52,700. 2. Raw Materials of $42,700 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,600 was classied as indirect materials. 3. Factory labor costs incurred were $67,600, of which $50,300 pertained to factorywages payable and $17,300 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,500 was direct labor and $12,100 was indirect labor. 5. Manufacturing overhead costs incurred on account were $81,800. 6. Depreciation on the compamfs ofce building was $8,800. 7. Manufacturing overhead was applied at the rate of 1.60% of direct labor cost. 8. Goods costing $90,500 were completed and transferred to nished goods. 9. Finished goods costing $78,000 to manufacture were sold on account for $107,100. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Amnt Titles and Explanation Debit Credit (1) education.wiley.com Mi Inbox (1,550) -... O HNME $01... Student Dashb. C My Overview |.. We Chapter 15 Ho. WP NWP Assessm. Week 2 - Sout. Course Hero + - Chapter 15 Homework Question 2 of 5 = D i educationmilemcom C m ET] 6 Chapter 15 Homework Question 2 of 5 - I 3 E (5) (5) (7) (3) (9) [To record the sale) [To record the cost of the sale) A v Q 'Ili i an ucationmileycom C m IIIJ 6 Chapter is Homework Question 3 of 5 - I 3 E Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the rst quarters production. 1. Materials purchased on account $197,100, and factory wages incurred $93,300. 2. Mate rials requisitioned and factory labor used byjob: Job Number Materials FactoryLabor A20 $37,340 $19,000 A21 44,620 23,700 A22 36,700 15,700 A23 40,370 26,500 General factory use 5,270 8,400 5 164,800 $93,300 3. Manufacturing overhead costs incurred on account $52,200. 4. Depreciation on factory equipment $16,750. 5. Depreciation on the compamfs ofce building was $15,000. 6. Manufacturing overhead rate is 86% of direct labor cost. 7. Jobs completed during the quarter: A20. A2 1. and A23. D .5 i an ucatianmileycam C 6 Chapter 15 Homework Question 3 of 5 - I 3 E Prepare a schedule showingthe individual cost elements and total cost for eachjob in item 7. Direct Direct Manufacturing Job Materials Labor Overhead Total A20 $ $ $ $ A2 1 A23 Prepare entries to record the operations summarized above. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) (To record materials purchases) ( > = D .5 i educationmileycom C m ET] 6 Chapter 15 Homework Question 3 of 5 - I 3 E (To record factory wages) (2) (To record materials put into production) (To record labor out into production) (4) education.wiley.com Mi Inbox (1,550) -... O HNME_01... Student Dashb. C My Overview |.. We Chapter 15 Ho. WP NWP Assessm. Week 2 - Sout. Course Hero + - Chapter 15 Homework Question 3 of 5 13 E (3) (4) (5) (6) (7) eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit
