In Crawford company, the predetermined overhead rate is 80% of direct labor cost. During the month, Crawford incurs $210,000 of factory labor lost, of which $180,000 is direct labor and $30,000 is indirect labor. Actual overhead incurred was $200,000. The amount of overhead debited to work in process inventory should be: Show
Mynex Company completes
Job No. 26 at a cost of $4,500 and later sells it for $7,000 cash. A correct entry is: During the current year, Carlisle Manufacturing expected Job No. 16 to cost $450,000 of overhead, $750,000 of materials, and $300,000 in labor. Carlisle applied overhead based on direct labor cost. Actual production required an overhead cost of $420,000, $825,000 in materials used, and $330,000 in labor. All of the goods were completed. What is the amount of over- or under-applied overhead? a.$30,000 overapplied. In the current year, Mitchell Manufacturing expected Job No. 13 to cost $600,000 of overhead, $650,000 of materials, and $400,000 of labor. Mitchell applied overhead based on direct labor cost. Actual production required an overhead cost of $420,000, $750,000 of materials used, and $300,000 of labor. All of the goods were completed. What amount was transferred from Work in Process to Finished Goods? a.$1,650,000. If
Hawkins Manufacturing purchased $13,000 in metal, $6,000 in cloth, and $2,000 in cleaning supplies, the Raw Materials Inventory would have B D In the month of October, Tran Incorporated had salaries of $15,000 for factory managers, $18,000 for financial managers, and $42,000 for company executives. They also had wages of $98,000 for factory workers and $64,000 for office workers. How much would the balance of the Factory Labor account change between October 1 and October 31? A C D Wilder, Inc. applies overhead to production at a predetermined rate of 90% based on direct labor cost. Job No. 305, the only job still in process at the end of August, has been charged with manufacturing overhead of $2,250. Assuming the balance in Work in Process Inventory is $9,000, the amount of direct materials charged to Job 305 is A B C D Recommended textbook solutions
 Fundamentals of Financial Management, Concise Edition10th EditionEugene F. Brigham, Joel Houston 777 solutions
Auditing and Assurance Services15th EditionAlvin A Arens, Mark A Beasley, Randal J Elder 169 solutions Financial Accounting13th EditionCarl S Warren, James M Reeve, Jonathan E. Duchac 290 solutions Principles of Auditing and Other Assurance Services22nd EditionKurt Pany, Ray Whittington 194 solutions Premium This is a Premium Document. Some documents on StuDocu are Premium. Upgrade to Premium to unlock it. Do you want full access?Go Premium and unlock all 40 pages JOB ORDER COST ACCOUNTING TRUE-FALSE STATEMENTS 1.Cost accounting is primarily concerned with accumulating information about product costs. 2.A job order cost system is most appropriate when a large volume of uniform products are produced. 3.A process cost accounting system is appropriate for homogeneous products that are continuously mass produced. 4.The perpetual inventory method cannot be used in a job order cost system. 5.A job order cost system and a process cost system are two alternative methods for valuing inventories. 6.A job order cost system identifies costs with a particular job rather than with a set time period. 7.A company may use either a job order cost system or a process cost system, but not both. 8.Raw Materials Inventory, Factory Labor, and Manufacturing Overhead are all control accounts in the general ledger when a job order cost accounting system is used. 9.Accumulating and assigning manufacturing costs are two important activities in a job order cost system. 10.Recording the acquisition of raw materials is a part of accumulating manufacturing costs. 11.Manufacturing costs are generally incurred in one period and recorded in a subsequent period. 12. The Purchases account is credited for all raw materials purchase returns and allowances. 13.The stores ledger cards are the subsidiary ledger for Raw Materials Inventory control account in the general ledger. 14.When raw materials are purchased, the Work in Process Inventory account is debited. 15.Factory labor should be assigned to selling and administrative expenses on a proportionate basis. 16.Fringe benefits and payroll taxes associated with factory workers should be accumulated as a part of Factory Labor. 17.Job order cost sheets constitute the subsidiary ledger of the control account Work In Process Inventory. 18.In a job order cost system, each entry to the Work In Process Inventory account should be accompanied by a posting to one or more job cost sheets. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. When raw materials are purchased on account which account is debited?When a company purchases raw materials, the raw materials are recorded into inventory, which results in a debit to raw materials. Typically, a company will pay for raw materials on credit, which would result in a credit to accounts payable.
When manufacturing Labour costs are incurred to what account are they debited?Labor cost are debited to Work in Process Inventory when they are incurred. How much is the cost of direct materials used in production? Dougan, Inc. allocates overhead based on a predetermined overhead rate of $2.40 per direct labor hour.
Which of the following would be accounted for using a job order cost system?Answer: d. The construction of a new campus building. In a job order costing, the costs are applied in each of the job.
When a job order costing system is used depreciation for the factory equipment is debited to?In a job-order cost system, depreciation on factory equipment should be charged directly to the Work in Process account. 12. The entire difference between the actual manufacturing overhead cost for a period and the applied manufacturing overhead cost is typically closed to the Work In Process account.
|
In a job order cost system, raw materials purchased are debited to which account?
zusammenhängende Posts
Urheberrechte © © 2024 berikutyang Inc.
