Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

where as follows: yeat a. Row matetials were purchased on accourit 3209.000 b. Raw materials were requisitioned for use in production: $199,000 (2l0%, dieect and

image text in transcribed
image text in transcribed
where as follows: yeat a. Row matetials were purchased on accourit 3209.000 b. Raw materials were requisitioned for use in production: $199,000 (2l0\%, dieect and 20% indirect c. The following costs were incurred for employee services: d. Heat, power, and water costs were incutred in the foctory, $43,800 e. Prepaid insurance expired during the year; \$11.800 (90\%, relates to foctory operations, and 10%, relates to selhing arvi administrative activities). f. Advertising costs were incuried, $51,800. activities). h. Manufacturing overhead cost was applied to production. The company recorded 40,000 machine-houts for the year. 1. Goods that cost $501,600 to manufacture according to their job cost sheets wete transferted to the fintstied gocds warehouse. S. Sales for the yoar totalled $763,000 and were all on account. The total cost to manufacture these goods according to their job cott sheets was $493,000. 2. Prepare Taccounts for inventories, Manufoctiating Overheach, and Cost of Goods Sold. Post relevant data from your jotimat emties to these Taccounts (don't forget to entor the opening balances in your inventory accounts). Compute ari ending baiance in each decount. where as follows: yeat a. Row matetials were purchased on accourit 3209.000 b. Raw materials were requisitioned for use in production: $199,000 (2l0\%, dieect and 20% indirect c. The following costs were incurred for employee services: d. Heat, power, and water costs were incutred in the foctory, $43,800 e. Prepaid insurance expired during the year; \$11.800 (90\%, relates to foctory operations, and 10%, relates to selhing arvi administrative activities). f. Advertising costs were incuried, $51,800. activities). h. Manufacturing overhead cost was applied to production. The company recorded 40,000 machine-houts for the year. 1. Goods that cost $501,600 to manufacture according to their job cost sheets wete transferted to the fintstied gocds warehouse. S. Sales for the yoar totalled $763,000 and were all on account. The total cost to manufacture these goods according to their job cott sheets was $493,000. 2. Prepare Taccounts for inventories, Manufoctiating Overheach, and Cost of Goods Sold. Post relevant data from your jotimat emties to these Taccounts (don't forget to entor the opening balances in your inventory accounts). Compute ari ending baiance in each decount

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

Accounting Principles Volume 2

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara A. Trenholm, Valerie A. Kinnear, Joan E. Barlow

6th Canadian Edition

1118557328, 978-1118557327

More Books

Students also viewed these Accounting questions

Question

Define promotion.

Answered: 1 week ago

Question

Write a note on transfer policy.

Answered: 1 week ago

Question

Discuss about training and development in India?

Answered: 1 week ago

Question

Explain the various techniques of training and development.

Answered: 1 week ago