Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

solve B,c, d 9 0 Job 2 13 14 45 46 47 48 49 50 SI 52 53 B. Record journal entries given the following

image text in transcribed

solve B,c,d

9 0 Job 2 13 14 45 46 47 48 49 50 SI 52 53 B. Record journal entries given the following information for August. Material Requisitions Time Tickets Mercedes $1,200 $900 Corvette $900 $1,500 Murcielago $3,000 $2,400 Land Rover $2,100 $1,200 $7,200 $6,000 General use * $300 $600 $7,500 $6,600 *Idle time, cleaning & maintenance, indirect materials, etc.) Account Dr. Cr. Date 31-Aug X X X X X X (Raw materials issued into production 31-Aug 58 59 60 X X XX XX 61 (Assign labor costs) 62 63 C. Estimated manufacturing overhead for the year was $75000. Overhead is applied based on direct labor dollars (estimated at $60000 for the year). Use this information to calculate predetermined overhead rate and apply manufacturing overhead. 31-Aug X X XX (Apply overhead using PDO) 65 66 67 68 855822 70 72 73 74 75 76 77 78 79 D. Calculate the cost of each job by completing the following table. (Go up to the very top box for Beg. Wip. The rest can be found in the above entries.) Mercedes Corvette Murcielago Land Rover Beg. WIP Direct Materials X Direct Labor X Man. Overhead Total Cost 9 0 Job 2 13 14 45 46 47 48 49 50 SI 52 53 B. Record journal entries given the following information for August. Material Requisitions Time Tickets Mercedes $1,200 $900 Corvette $900 $1,500 Murcielago $3,000 $2,400 Land Rover $2,100 $1,200 $7,200 $6,000 General use * $300 $600 $7,500 $6,600 *Idle time, cleaning & maintenance, indirect materials, etc.) Account Dr. Cr. Date 31-Aug X X X X X X (Raw materials issued into production 31-Aug 58 59 60 X X XX XX 61 (Assign labor costs) 62 63 C. Estimated manufacturing overhead for the year was $75000. Overhead is applied based on direct labor dollars (estimated at $60000 for the year). Use this information to calculate predetermined overhead rate and apply manufacturing overhead. 31-Aug X X XX (Apply overhead using PDO) 65 66 67 68 855822 70 72 73 74 75 76 77 78 79 D. Calculate the cost of each job by completing the following table. (Go up to the very top box for Beg. Wip. The rest can be found in the above entries.) Mercedes Corvette Murcielago Land Rover Beg. WIP Direct Materials X Direct Labor X Man. Overhead Total Cost

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

Principles Of Accounting Volume 1 Financial Accounting

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

1st Edition

1593995946, 978-1593995942

More Books

Students also viewed these Accounting questions