Question
total manufacturing cost $108500 2. Prepare the journal entry: Raw materials were requisitioned; direct materials were 75% of the total $121,800. 3. Prepare the journal
total manufacturing cost $108500
2.
Prepare the journal entry:
Raw materials were requisitioned; direct materials were 75% of the total $121,800.
3. Prepare the journal entry: Rent expense was paid in the amount of $37,600; the factory allocation is 45%. 4. Prepare the journal entry: Depreciation for the year was $48,000; the factory allocation is 86%; the remainder is allocated to the administrative department. 5. Prepare the journal entry: The utilities were paid for the month - $16,000; the administrative allocation is 27%. 6. Prepare the journal entry: The factory labor expense is $87,000 and the direct labor hours worked were 68,000. The factory supervisor's salary is $27,400 and the administrative payroll is $102,000. 7. Prepare the journal entry: Manufacturing overhead was applied. Seventy-five percent of Work in Process was transferred to the Finished Goods department. 8. Prepare the journal entry: Ninety percent of the amount in Finished Goods is transferred to Cost of Goods Sold. 9. Prepare the journal entry: Transfer the over/under amount of Manufacturing Overhead to Cost of Goods Sold. 10. Prepare the journal entry: Calculate the ending balance for Work in Process (WIP)
Question 1 3 pts Please keep track of your work. Wowza Corporation manufactures party supplies and use a predetermined overhead. The CFO has estimated total manufacturing costs to be $108,500 and the activity driver is have been estimated. The following beginning balances are below: Work in Process $ 19,800 Finished Goods $ 37,100 Prepare the journal entry: Raw materials purchased were $134,700 and put on accountStep by Step Solution
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