In January, Sunland Tool & Die requisitions raw materials for production as follows: Job 1 $950,...
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In January, Sunland Tool & Die requisitions raw materials for production as follows: Job 1 $950, Job 2 $1,600, Job 3 $760, and general factory use $710. Prepare a summary journal entry to record raw materials used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 31 Account Titles and Explanation Debit Credit Current Attempt in Progress In January, Carla Vista Tool & Die accumulated factory labour costs of $6,200. During January, time tickets show that the factory labour of $6,200 was used as follows: Job 1 $2,350, Job 2 $1,780, Job 3 $1,650, and general factory use $420. Prepare a summary journal entry to record factory labour used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 31 alaythock and Media Debit Credit Current Attempt in Progress During the first quarter, Oriole Company incurs the following direct labour costs: January $44,200, February $48,600, and March $64,500. For each month, prepare the entry to assign overhead to production using a predetermined rate of 95% of direct labour costs (date journal entries as at the end of the month). (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Current Attempt in Progress In March, Crane Company completes Jobs 10 and 11. Job 10 cost $30,000 and Job 11 cost $34,300. On March 31, Job 10 is sold to the customer for $43,300 in cash. Journalize the entries for the completion of the two jobs and the sale of Job 10. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 31 31 (To record the completion of the two jobs) (To record the sale of Job 10) (To record the cost of the job sold) eTextbook and Media Debit Credit In January, Sunland Tool & Die requisitions raw materials for production as follows: Job 1 $950, Job 2 $1,600, Job 3 $760, and general factory use $710. Prepare a summary journal entry to record raw materials used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 31 Account Titles and Explanation Debit Credit Current Attempt in Progress In January, Carla Vista Tool & Die accumulated factory labour costs of $6,200. During January, time tickets show that the factory labour of $6,200 was used as follows: Job 1 $2,350, Job 2 $1,780, Job 3 $1,650, and general factory use $420. Prepare a summary journal entry to record factory labour used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 31 alaythock and Media Debit Credit Current Attempt in Progress During the first quarter, Oriole Company incurs the following direct labour costs: January $44,200, February $48,600, and March $64,500. For each month, prepare the entry to assign overhead to production using a predetermined rate of 95% of direct labour costs (date journal entries as at the end of the month). (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Current Attempt in Progress In March, Crane Company completes Jobs 10 and 11. Job 10 cost $30,000 and Job 11 cost $34,300. On March 31, Job 10 is sold to the customer for $43,300 in cash. Journalize the entries for the completion of the two jobs and the sale of Job 10. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 31 31 (To record the completion of the two jobs) (To record the sale of Job 10) (To record the cost of the job sold) eTextbook and Media Debit Credit
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Managerial Accounting Tools for business decision making
ISBN: 978-0470477144
5th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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