Question
VIA CANVAS 1. From March-December (i.e. remainder of the year), Abbott purchased the following in cash: Nylon Cotton 5,000 yards for $85,000; 5,000 yards
VIA CANVAS 1. From March-December (i.e. remainder of the year), Abbott purchased the following in cash: Nylon Cotton 5,000 yards for $85,000; 5,000 yards for $85,000; Give the appropriate journal entry 2. Abbott workers requisitioned about the following materials from March-December. Nylon Cotton 3,000 yards; 4,200 yards. FOR THE REMAINDER OF THE YEAR, ABBOTT WORKERS MADE 1,000 Nylon and 1,000 cotton jogging suits. Give the appropriate journal entries. 3. Abbott paid the following in cash Nylon workers Cotton workers Janitor wages Accountant (3900 dlh*$10/dlb); (5200 dlh*$21/dlb); (2000 hours for a total of $20,000) (2000 hours for a total of $22,000). 4. During the remainder of the year, Abbott paid the following in cash Fisher Properties for rent We Energies for utilities $5,500 $80,000 5. 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 (i.e. add up the next 10 month's worthy of monthly depreciation charges. 6. Give the journal entry to APPLY overhead (both VOH and FOH). Nylon incurred 5,500 machine hours and cotton incurred 7,500 machine hours.
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