(2.) The following data relate to the operations of the Donnell Printing Company for the year...
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(2.) The following data relate to the operations of the Donnell Printing Company for the year 19_5 (in millions): Materials control, December 31, 19_4 Work-in-process control, December 31, 19_4 Finished goods control, December 31, 19_4 Materials and supplies purchased on account Direct materials issued to the production department Indirect materials (supplies) issued to various production departments Labor used directly in production Indirect labor incurred by various departments Depreciation - plant and factory equipment IECOSAC Handouts Misc. factory overhead incurred by various departments Factory overhead applied, 2,100,000 machine hours at $30 per hour Cost of goods manufactured Sales Cost of goods sold $12 2 6 150 145 10 90 30 19 ? 294 400 292 page 42 Required: (a) Prepare journal entries. (b) Post to T-accounts. What is the ending balance of Work-In-Process Control? (c) Show the journal entry for disposing of overapplied or underapplied overhead directly as a year-end adjustment to Cost of Goods Sold. Post the entry to T-accounts. (2.) The following data relate to the operations of the Donnell Printing Company for the year 19_5 (in millions): Materials control, December 31, 19_4 Work-in-process control, December 31, 19_4 Finished goods control, December 31, 19_4 Materials and supplies purchased on account Direct materials issued to the production department Indirect materials (supplies) issued to various production departments Labor used directly in production Indirect labor incurred by various departments Depreciation - plant and factory equipment IECOSAC Handouts Misc. factory overhead incurred by various departments Factory overhead applied, 2,100,000 machine hours at $30 per hour Cost of goods manufactured Sales Cost of goods sold $12 2 6 150 145 10 90 30 19 ? 294 400 292 page 42 Required: (a) Prepare journal entries. (b) Post to T-accounts. What is the ending balance of Work-In-Process Control? (c) Show the journal entry for disposing of overapplied or underapplied overhead directly as a year-end adjustment to Cost of Goods Sold. Post the entry to T-accounts.
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Cost Accounting A Managerial Emphasis
ISBN: 978-0136126638
13th Edition
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
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