Enos Printing Corp. uses a job order cost system. The following data summarize the operations related...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $192,000, and factory wages incurred $87,300. 2. Materials requisitioned and factory labor used by job: Job 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 costs incurred on account $49,500. (Hint: Use Accounts Payable.) 4. Depreciation on factory equipment $14,550. 5. Depreciation on the company's office building was $14,300. 6. Manufacturing overhead rate is 90% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23. Prepare a schedule showing the individual cost elements and total cost for each job in item 7 ob Direct Materials Direct Labor Manufacturing Overhead https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=2a1a7d3a-372e-49ec-aacc-6a2cfc78db91#/question/1 2/2/24, 12:53 PM Homework Chapter 2 Question 2 of 4 A23 Question 2 of 4 - Homework Chapter 2 -/3 Prepare entries to record the operations summarized above. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (1) (To record materials purchases) (2) (To record factory wages) (To record materials put into production) Debit C 1/3 Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $192,000, and factory wages incurred $87,300. 2. Materials requisitioned and factory labor used by job: Job 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 costs incurred on account $49,500. (Hint: Use Accounts Payable.) 4. Depreciation on factory equipment $14,550. 5. Depreciation on the company's office building was $14,300. 6. Manufacturing overhead rate is 90% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23. Prepare a schedule showing the individual cost elements and total cost for each job in item 7 ob Direct Materials Direct Labor Manufacturing Overhead https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=2a1a7d3a-372e-49ec-aacc-6a2cfc78db91#/question/1 2/2/24, 12:53 PM Homework Chapter 2 Question 2 of 4 A23 Question 2 of 4 - Homework Chapter 2 -/3 Prepare entries to record the operations summarized above. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (1) (To record materials purchases) (2) (To record factory wages) (To record materials put into production) Debit C 1/3
Expert Answer:
Related Book For
Accounting Tools for business decision making
ISBN: 978-0470095461
4th Edition
Authors: kimmel, weygandt, kieso
Posted Date:
Students also viewed these accounting questions
-
Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarters production. 1. Materials purchased on account $192,000, and factory wages...
-
What are the major advantages of requiring companies to depreciate or amortize assets according to a prescribed schedule, (that is, removing their discretions to take large impairments on an ad hoc...
-
The balance sheet of Lamont Bros. follow: (a) What portions of Lamont's assets were provided by debt, contributed capital, and earned capital? Reduce contributed capital by the cost of the treasury...
-
Given IDSS = 9 mA and VP = -3.5 V, determine ID when: a. VGS = 0V. b. VGS = -2V c. VGS = -3.5V d. VGS = -5V
-
Which of the following procedures can organizations use to address credit risk most effectively? a. An informal credit policy, which may be automated for most transactions but requires special...
-
(a) Imagine holding a ball a certain height above the ground. If you let the ball go, it accelerates downward. An interaction between the ball and what other object causes this acceleration? Is this...
-
Kobeer Inc. manufactures and sells three types of shoes. The income statements prepared under the absorption costing method for the three shoes are as follows: In addition, you have determined the...
-
QUESTION ONE a) Distinguish between sale and agreement to sell b) Explain the rights of unpaid seller against the goods c) Explain the nature of the contract of hire purchase QUESTION TWO (5 marks)...
-
What (if any) type of error occurs with the following code if the user input is ABC? public static void main(String[] args) { Scanner in = new Scanner(System.in); System.out.print("Enter a number:...
-
Describe your own philosophy of education, what education means to you and how it can be achieved, what method of learning you believe is the best, what advantages distance and personalized learning...
-
Carson Trucking is considering whether to expand its regional service center in Mohab, UT. The expansion requires the expenditure of $10,500,000 on new service equipment and would generate annual net...
-
Describe the Black Heritage Flag in detail. Consider the following: Where did you see the work? What elements or characteristics stand out to you? Describe the purpose of the Black Heritage Flag....
-
On salary.com, How does this website say that the salary data is developed or calculated? Do you think it provides enough information? Why or why not? What are some of the factors that might impair...
-
Describe the most innovative and useful type of product packaging that you have seen and experienced first hand. What made it so innovative? After watching the video, tell me what you learned and...
-
Select a starting day and for a full seven-day period, record your personal consumption activities. Note that you should record things you consume, even if you do not pay. Many of you are blessed...
-
Write an SQL statement to display all data on products having a QuantityOnHand greater than 0.
-
Novo Nordisk is a Denmark-based biopharmaceutical company with a focus on diabetes drugs. The company provides detailed disclosure of revenue along geographic, business segment, and product lines....
-
Use the data in Example 1 on Novo Nordisk to answer the following questions: i. Xiaoping Wu is an equity analyst covering European pharmaceutical companies for his clients in China. Wu projects that...
-
Walgreens and Rite Aid are two of the largest retail drugstore chains in the United States. For both companies, around two-thirds of their sales are from prescription pharmaceuticals, with the...
Study smarter with the SolutionInn App