Ford Company completed jobs that cost $37,000 to produce. In the same period, the company sold jobs for $86,000 that cost $45,000 to produce. Prepare the journal entries for the completion and sales of the jobs. All sales are on account.
Answer to relevant QuestionsRobertson Company’s Manufacturing Overhead account is given below. Use this information to prepare the journal entry to adjust for overallocated or underallocated overhead. Selected cost data for Antique Poster Co. are as follows: Estimated manufacturing overhead cost for the year.... $ 120,000 Estimated direct labor cost for the year......... 100,000 Actual manufacturing overhead cost for ...Yu Technology Co. manufactures CDs and DVDs for computer software and entertainment companies. Yu uses job order costing. On April 2, Yu began production of 5,700 DVDs, Job 423, for Portrait Pictures for $1.40 sales price ...Custom Woods manufactures jewelry boxes. The primary materials (wood, brass, and glass) and direct labor are assigned directly to the products. Manufacturing overhead costs are allocated based on machine hours. Data for 2016 ...Miller Company sells several products. Sales reports show that the sales volume of its most popular product has increased the past three quarters while overall profits have decreased. How might production cost reports assist ...
Post your question