Question
Show journal entries & present your calculations of the predetermined FOH a) Purchased $55,000 of DM b) The month's requisition of $7000 indirect and $18,000
Show journal entries & present your calculations of the predetermined FOH\ a) Purchased
$55,000
of DM\ b) The month's requisition of
$7000
indirect and
$18,000
of DM's\ c) The month's use of
$37,000
of DL along with
$1500
of indirect labor\ d) Record FOH incurred during processing based on predetermined rate\ e) Recognition of
$22,000
of product completely produced and packaged (FG)\ f) Record entries associated with selling
$16,000
of products to customers with a cost value of
$9000
\ g) Record entry to account for under or over applied FOH. Actual MOH
$9200
.\ Note:
DL
is paid
$37
per hour.\ Budgeted (expected) 1100 Direct Labor Hours each month\ Budgeted (expected)
$11,000
of total FOH each month
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