Business, 05.02.2021 21:50 jobucks9976
Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $6,900, direct labor of $3,000, and applied overhead of $2,700. Custom Cabinetry applies overhead at the rate of 90% of direct labor cost. During July, Job 120 is sold (on account) for $28,000, Job 121 is started and completed, and Job 122 is started and still in process at the end of the month. Custom Cabinetry incurs the following costs during July.
uly Product Costs Job 120 Job 121 Job 122 Total
Direct Materials $1,500 $7,400 $4,000 $12,900
Direct Labor 3,800 3,800 2,800 10,400
Overhead Applied ? ? ? ?
1. Prepare journal entries for the following in July. A. Direct materials used in production. B. Direct labor used in production. C. Overhead applied. D. The sale of Job 120.E. Cost of goods sold for Job 120.2. Compute the July 31 balances of the Work in Process Inventory and the Finished Goods Inventory general ledger accounts.
Answers: 2
Other questions on the subject: Business
Business, 21.06.2019 16:10, georgesarkes12
Weber company purchases $44,270 of raw materials on account, and it incurs $52,730 of factory labor costs. supporting records show that (a) the assembly department used $27,580 of raw materials and $33,320 of the factory labor, and (b) the finishing department used the remainder. manufacturing overhead is assigned to departments on the basis of 150% of labor costs. journalize the assignment of overhead to the assembly and finishing departments. account titles and explanation debit credit
Answers: 2
Business, 22.06.2019 06:00, kyeilahj
List three careers that require knowledge of science. list three careers that require the use of of math. list three careers that require the use of foreign language. list three careers that require the use of good writing skills. list three careers that require the use of good computer skills.
Answers: 3
Business, 22.06.2019 11:50, dinero0424
After graduation, you plan to work for dynamo corporation for 12 years and then start your own business. you expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). the first deposit will be made a year from today. in addition, your grandfather just gave you a $32,500 graduation gift which you will deposit immediately (t = 0). if the account earns 9% compounded annually, how much will you have when you start your business 12 years from now?
Answers: 1
You know the right answer?
Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet re...
Questions in other subjects:
