RESULTS FOR FEBRUARY

1. Abbott workers requisitioned out the following materials:

110 yards of nylon/300 yards of cotton

ASC workers made 40 nylon jogging suits and 80 cotton jogging suits in February.

Give the appropriate journal entry and any associated variances

2. Abbott workers worked the following hours (and were paid in cash).

Nylon workers (190 dlh*$12/dlh);

Cotton workers (350 dlh*$16/dlh);

Janitor wages (200 hours for a total of $2,000)

Accountant (200 hours for a total of $2,000).

Give the appropriate journal entry and any associated variances

3. Abbott paid the following bills in cash give the appropriate journal entry

Fisher Properties for rent $500

We Energies for utilities $18,000

4. Abbott has a sewing machine that was purchased in 2018 for $40,000, with a useful life of 10 years and a salvage value of 0. Give the MONTHLY depreciation journal entry for this machine.

5. Give the journal entry to APPLY overhead in January for BOTH VOH and FOH. Nylon jogging workers used 180 machine hours and cotton jogging suit workers used 620 machine hours

6. Create the different MOH/VOH and MOH/FOH clearing accounts. Indicate if the individual moh t-accounts are OVER- or UNDER-applied. SHOW YOUR WORK. AND CONTINUE FROM YOUR PRIOR MOH-T ACCOUNTS SINCE YOU DID NOT CLOSE THE MOH CLEARING ACCOUNTS IN JANUARY.

7. CALCULATE - BUT DO NOT JOURNALIZE - THE VOH VARIANCES FOR FEBRUARY. REMEMBER, THESE ARE CALCULATED MONTHLY.BUT NOT JOURNALIZEDSO simply calculate them and ISOLATE them for the MONTH OF FEBRUARY. LATER ON, WE WILL COMPUTE AND JOURNALIZE these on an annual basis!

8. During FEBRUARY, ASC sells the following: 45 nylon jogging suits for $230/nylon jogging suits ON ACCOUNT and 70 cotton jogging suits for $220/cotton jogging suit. Give the journal entry.

9. Did the GROSS MARGIN % (or gross margin $/sales $) change from January to February for nylon and cotton suits? If so, by how much AND what caused the change in gross margin %?