Requirments

1-4

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The University of Portland Press is wholly owned by the university. It performs the bulk of its work for other university departments, whic stock of books for general sale. The press utos normal costing to cost each job. Its job-costing system has two direct cost categories ( on the basis of direct manufacturing labor costs). The following data (in thousands) pertain to 2017 Click the icon to view the data) Read the requirements Requirement 1. Prepare journal entries to summarize the 2017 transactions. As your final entry, dispose of the year-end under-or overall each entry may be omitted.(Record debits first, then credits Exclude explanations from any oumal entries) Direct materials and supplies purchased on credit, $890 Journal Entry Accounts Debit Credit (In thousands) (1) Record the direct materials used. 5740 Journal Entry Accounts Debit Credit On thousands) (2) MacBook Pro 5C % 5 0 > 7 Q tab R T Y U A D F caps lock F G H orms the bulk of its work for other university departments, which pay as though the press were an outside business enterprise. The press also pu och job. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one Indirect-cost pool (manufae ousands) pertain to 2017: sons. As your final entry, dispose of the year-end under- or overallocated manufacturing overhead as a write-off to Cost of Goods Sold Number you planations from any oumal entries.) Debit Credit (In thousands) Debit Credit In thousands) Time Romaining: 01 02 MacBook Pro ) + & 7 # 00 ( 9 TI O = U O P LE 6 H J K L Requirements 1. Identify the components of the overview diagram of the job-costing system at the University of Portland Press. 2. Prepare journal entries to summarize the 2017 transactions. As your final entry, dispose of the year-end under-or overallocated manufacturing overhead as a write-off to Cost of Goods Sold. Number your entries. Explanations for each entry may be omitted. 3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated. 4. How did the University of Portland Press perform in 2017? Print Done (In thousands) MacBook Pro Read the requirements Direct materials and supplies purchased on credit, $890. Journal Entry Accounts Debit (In th (1) Record the direct materials used, $740. Journal Entry Accounts Debit (In thou (2) Record the indirect materials used, $120. Journal Entry esc INOWIU UNGHIILGU HII ID vacu, ILU. Journal Entry Accounts Debit Credit (In thousands) (3) Record the cost of the direct and indirect labor used in production, $1,340 and $920, respectively. (Combine the ent- Journal Entry Accounts Debit Credit (4) (In thousands) Record the entry for depreciation, $460. Journal Entry Aaaa natie MacB % 2. 4 5 6 Q R. Read the requirements Record the miscellaneous manufacturing overhead costs, $550. Journal Entry Accounts Debit Credit (In thousands) (6) Record the allocation of the manufacturing overhead. Journal Entry Accounts Debit Credit (In thousands) (7) Record the cost of goods manufactured, 54,110, Journal Entry Ma OSC 7 2 % 5 6 They of Portond wholy wed by the work orchestrate which you of the word on the base of dried The Head the Entry D Che . 5 6 7 8 9 tab T Y U 0 caps lock TI G H J K shift N X C V B N A M A control option command Read the requirements Record the revenues, $8,700. Journal Entry Accounts Debit Credit (In thousands) (9) Record the cost of goods sold, $4,040 Journal Entry Accounts Debit Credit (In thousands) (10) Dispose of the year-end under-or overallocated manufacturing overhead. Journal Entry MacB esc 2 4 5 6 Read the fequirement Record the cost of goods sold, $4,040, Journal Entry Accounts Debit (In thousa (10) Dispose of the year-end under-or overallocated manufacturing overhead. Journal Entry Accounts Debit C (In thousands (11) esc The University of Portland Press is wholly owned by the university. It performs the bulk of its work for other university departments, whic stock of books for general sale. The press utos normal costing to cost each job. Its job-costing system has two direct cost categories ( on the basis of direct manufacturing labor costs). The following data (in thousands) pertain to 2017 Click the icon to view the data) Read the requirements Requirement 1. Prepare journal entries to summarize the 2017 transactions. As your final entry, dispose of the year-end under-or overall each entry may be omitted.(Record debits first, then credits Exclude explanations from any oumal entries) Direct materials and supplies purchased on credit, $890 Journal Entry Accounts Debit Credit (In thousands) (1) Record the direct materials used. 5740 Journal Entry Accounts Debit Credit On thousands) (2) MacBook Pro 5C % 5 0 > 7 Q tab R T Y U A D F caps lock F G H orms the bulk of its work for other university departments, which pay as though the press were an outside business enterprise. The press also pu och job. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one Indirect-cost pool (manufae ousands) pertain to 2017: sons. As your final entry, dispose of the year-end under- or overallocated manufacturing overhead as a write-off to Cost of Goods Sold Number you planations from any oumal entries.) Debit Credit (In thousands) Debit Credit In thousands) Time Romaining: 01 02 MacBook Pro ) + & 7 # 00 ( 9 TI O = U O P LE 6 H J K L Requirements 1. Identify the components of the overview diagram of the job-costing system at the University of Portland Press. 2. Prepare journal entries to summarize the 2017 transactions. As your final entry, dispose of the year-end under-or overallocated manufacturing overhead as a write-off to Cost of Goods Sold. Number your entries. Explanations for each entry may be omitted. 3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated. 4. How did the University of Portland Press perform in 2017? Print Done (In thousands) MacBook Pro Read the requirements Direct materials and supplies purchased on credit, $890. Journal Entry Accounts Debit (In th (1) Record the direct materials used, $740. Journal Entry Accounts Debit (In thou (2) Record the indirect materials used, $120. Journal Entry esc INOWIU UNGHIILGU HII ID vacu, ILU. Journal Entry Accounts Debit Credit (In thousands) (3) Record the cost of the direct and indirect labor used in production, $1,340 and $920, respectively. (Combine the ent- Journal Entry Accounts Debit Credit (4) (In thousands) Record the entry for depreciation, $460. Journal Entry Aaaa natie MacB % 2. 4 5 6 Q R. Read the requirements Record the miscellaneous manufacturing overhead costs, $550. Journal Entry Accounts Debit Credit (In thousands) (6) Record the allocation of the manufacturing overhead. Journal Entry Accounts Debit Credit (In thousands) (7) Record the cost of goods manufactured, 54,110, Journal Entry Ma OSC 7 2 % 5 6 They of Portond wholy wed by the work orchestrate which you of the word on the base of dried The Head the Entry D Che . 5 6 7 8 9 tab T Y U 0 caps lock TI G H J K shift N X C V B N A M A control option command Read the requirements Record the revenues, $8,700. Journal Entry Accounts Debit Credit (In thousands) (9) Record the cost of goods sold, $4,040 Journal Entry Accounts Debit Credit (In thousands) (10) Dispose of the year-end under-or overallocated manufacturing overhead. Journal Entry MacB esc 2 4 5 6 Read the fequirement Record the cost of goods sold, $4,040, Journal Entry Accounts Debit (In thousa (10) Dispose of the year-end under-or overallocated manufacturing overhead. Journal Entry Accounts Debit C (In thousands (11) esc