Business, 10.03.2020 04:34 smuqtadir124

Nieland Industries has two production departments: Fabricating and Finishing. Beginning inventories are: Work in Process—Fabricating, $6,030; Work in Process—Finishing, $4,100; and Finished Goods, $5,600. During the month the following transactions occurred:

1. Purchased $40,000 of raw materials on account.
2. Incurred $65,000 of factory labor. Wages are unpaid.
3. Incurred $35,000 of manufacturing overhead; $30,000 was paid and the remainder is unpaid.
4. Requisitioned materials for Fabricating, $10,000 and Finishing, $8,000.
5. Used factory labor for Finishing, $52,000 and Fabricating, $13,000.
6. Applied $30,000 of overhead based on machine hours used in each department. The Finishing Department used twice as many machine hours as did Fabricating.

Required:
Journalize the transactions for the month.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 11:20, murarimenon

Camilo is a self-employed roofer. he reported a profit of $30,000 on his schedule c. he had other taxable income of $5,000. he paid $3,000 for hospitalization insurance. his self-employment tax was $4,656. he paid his former wife $4,000 in court-ordered alimony and $4,000 in child support. what is the amount camilo can deduct in arriving at adjusted gross income (agi)?

Answers: 2

continue

Business, 22.06.2019 12:10, mcguirefam7071p2mbzz

Drag each label to the correct location on the image determine which actions by a manager are critical interactions - listening to complaints - interacting with customers - responding to complaints - assigning staff duties -taking action to address customer grievances -keeping track of reservations

Answers: 2

continue

Business, 22.06.2019 22:10, tilsendt

Scoresby co. uses 6 machine hours and 2 direct labor hours to produce product x. it uses 8 machine hours and 16 direct labor hours to produce product y. scoresby's assembly and finishing departments have factory overhead rates of $240 per machine hour and $160 per direct labor hour, respectively. how much overhead cost will be charged to the two products? a. product x = $1,440; product y = $2,560 b. product x = $1,760; product y = $4,480 c. product x = $3,200; product y = $9,600 d. product x = $800; product y = $800

Answers: 1

continue

Business, 22.06.2019 22:40, michelerin9486

Utilization will always be lower than efficiency because: a. effective capacity is greater than design capacityb. expected output is less than actual output. c. effective capacity equals design capacity. d. effective capacity is less than design capacity. e. expected output is less than rated capacity.

Answers: 3

continue

You know the right answer?

Nieland Industries has two production departments: Fabricating and Finishing. Beginning inventories...