Question: need help with 1-5 3. What is the journal entry to record the labor costs incurred during the year? (If no entry is required for





3. What is the journal entry to record the labor costs incurred during the year? (If no entry is required for a transaction/event, select No journal entry required" in the first account field.) Journal entry worksheet Record the accrued labor costs. Note: Enter drbits before credse. Journal entry worksheet Record the raw materials used in production. Note: Enter debits before credits. Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, thetcompany's inventory balances were as follows: The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $15.25 per direct labor-hour was based on a cost formula that estimated $610,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year: a. Raw materials were purchased on account, $562,000, b. Raw materials used in production, $513,200. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services; direct labor, $560,000; indirect labor, $150,000; selling and administrative salaries, $249,000. d. Incurred various selling and administrative expenses (e.g. advertising, sales travel costs, and finished goods warehousing); $401,000. e. Incurred various manufacturing overhead costs (e-g., depreciation, insurance, and utilities), $460,000. f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year. 9. Jobs costing $1,614,850 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3,397,500. The jobs cost $1,624,850 to manufacture according to their job cost sheets. Required information [The following information applies to the questions displayed below] Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $15,25 per direct labor-hour was based on a cost formula that estimated $610,000 of total manufacturing overhead for an est mated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year: a. Raw materials were purchosed on account, $562,000. b. Raw materials used in production, $513,200. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $560,000; indirect labor, $150,000; selling and administrative salaries, $249,000. d. Incurred various selling and administrative expenses (e.g., advertising. soles travel costs, and finished goods warehousing), $401,000 e. Incurred various manufacturing overhead costs (0.9. depreciation, insurance, and uthities), $460,000, t. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year. 9. Jobs costing $1,614,850 to manutacture according to their job cost sheets werd completed during the year, h. Jobs were sold on account to customers during the year for o total of $3,397,500. The jobs cost $1,624,850 to manufacture according to their job cost sheets. 2. What is the ending bolance in Raw Materials? Required information [The following information opplies to the questions displayed below] Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $15.25 per direct labor-hour was based on a cost formula that estimated $610,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year: a. Raw materials were purchased on account, $562,000. b. Raw materials used in production, $513,200. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $560,000; indirect labor, $150,000; selling and administrative salaries, $249,000. d. Incurred various selling and administrative expenses (e.g, advertising, sales travel costs, and finished goods warehousing), $401,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $460,000. f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year. 9. Jobs costing $1,614,850 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3,397,500. The jobs cost $1,624,850 to manufacture according to their job cost sheets. 5. What is the total manufacturing cost added to Work in Process during the year? Required information [The following information applies to the questions displayed below] Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $15.25 per cirect labor-hour was based on a cost formula that estimated $610,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year: a. Raw materials were purchased on account, $562,000. b. Raw materials used in production, $513,200. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee sorvices: direct labor, $560,000; indirect labor, $150,000; selling and administrative salaries, $249,000. d. Incurred various selling and administrative expenses (e.g, advertising, sales travel costs, and finished goods warehousing), $401,000. e. Incurred various manufacturing overhead costs (e.g. depreciation, insurance, and utilities), $460,000. f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year. g. Jobs costing $1,614,850 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3,397,500. The jobs cost $1,624,850 to manufacture according to their job cost sheets. 4. What is the total amount of manufacturing overhead applied to production duringthe year
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