Enos Printing Corp. uses a job costing system. The following data summarizes operations related to production in
Question:
Enos Printing Corp. uses a job costing system. The following data summarizes operations related to production in the first quarter.
1. Materials purchased on account $192,000 and factory wages incurred $87,300.
2. Materials Required and Factory Labor Used for Job:
employment number | Materials | factory labor |
---|---|---|
A20 | $35,240 | $18,000 |
A21 | 42.920 | 22.000 |
A22 | 36.100 | 15.000 |
A23 | 39.270 | 25.000 |
general factory use | 4,470 | 7.300 |
$158,000 | $87,300 |
3.Manufacturing overhead incurred on account $49,500.
4. Factory equipment depreciation $14,550.
5. The depreciation of the company's office building was $14,300.
6. The manufacturing overhead rate is 90% of the direct labor cost.
7. Work completed during the quarter: A20, A21 and A23.
Instructions
Prepare entries to record the transactions summarized above. (Prepare a table showing the individual cost elements and the total cost of each job in item 7.)
Accounting Tools for business decision making
ISBN: 978-0470095461
4th Edition
Authors: kimmel, weygandt, kieso