Suzanne Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Suzanne Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cost categories-direct materials and direct manufacturing labor-and one indirect cost pool, manufacturing overhead costs. It provides the following Information for April 2017. E (Click the icon to view the information for 2017.) The followi E (Click Budgeted manufacturing overhead costs 1,485,000 Read the r Budgeted direct manufacturing labor-hours 33,000 hours Present the journal entry for (a) usage of direct and indirect materials. (Record debits first, then credits. Explanations are Print Done Journal Entry Accounts Debit Credit (a) Data Table Actual direct materials used 40,000 Actual direct manufacturing labor costs paid in cash 55,000 Indirect materials used 3,200 O Requirement Supervision and engineering salaries paid in cash 53,000 Plant utilities and repairs paid in cash 5,000 Plant depreciation 18,000 Present journal entries for (a) usage of direct and indirect materials, (b) manufacturing labor incurred, (c) manufacturing overhead costs incurred, (d) allocation of manufacturing overhead costs to jobs, (e), cost of jobs completed and transferred to finished goods, and (f) cost of goods sold. (Assume the cost allocation base is direct labor hours.) Actual direct manufacturing labor-hours 3,200 Cost of individual jobs completed and transferred to finished goods $ 20,000 Cost of goods sold $ 165,000 Print Done Print Done Choose from any list or er Suzanne Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cost categories-direct materials and direct manufacturing labor-and one indirect cost pool, manufacturing overhead costs. It provides the following Information for April 2017. E (Click the icon to view the information for 2017.) The followi E (Click Budgeted manufacturing overhead costs 1,485,000 Read the r Budgeted direct manufacturing labor-hours 33,000 hours Present the journal entry for (a) usage of direct and indirect materials. (Record debits first, then credits. Explanations are Print Done Journal Entry Accounts Debit Credit (a) Data Table Actual direct materials used 40,000 Actual direct manufacturing labor costs paid in cash 55,000 Indirect materials used 3,200 O Requirement Supervision and engineering salaries paid in cash 53,000 Plant utilities and repairs paid in cash 5,000 Plant depreciation 18,000 Present journal entries for (a) usage of direct and indirect materials, (b) manufacturing labor incurred, (c) manufacturing overhead costs incurred, (d) allocation of manufacturing overhead costs to jobs, (e), cost of jobs completed and transferred to finished goods, and (f) cost of goods sold. (Assume the cost allocation base is direct labor hours.) Actual direct manufacturing labor-hours 3,200 Cost of individual jobs completed and transferred to finished goods $ 20,000 Cost of goods sold $ 165,000 Print Done Print Done Choose from any list or er
Expert Answer:
Answer rating: 100% (QA)
Journal Entry Date Particulars Dr Amt Cr Amt a Work in Process 4000000 Manufactu... View the full answer
Related Book For
Management and Cost Accounting
ISBN: 978-1405888202
4th edition
Authors: Alnoor Bhimani, Charles T. Horngren, Srikant M. Datar, George Foster
Posted Date:
Students also viewed these accounting questions
-
Ti-Enne Srl uses a normal costing system with a single manufacturing overhead cost pool and machine-hours as the allocation base. The following data are for 2007: Budgeted manufacturing...
-
Naf Radiator Company uses a normal costing system with a single manufacturing overhead (MOH) cost pool and machine hours (MH) as the cost allocation base. The following data are for 2013: Budgeted...
-
Naf Radiator Company uses a normal costing system with a single manufacturing overhead (MOH) cost pool and machine-hours (MH) as the cost allocation base. The following data are for 2016: Budgeted...
-
Fill in the blanks with the proper method names to deserialize an object. (Choose two.) A. writeObject in the first blank B. writeResolve in the first blank C. readObject in the first blank D....
-
Name the phase transition in each of the following situations and indicate whether it is exothermic or endothermic: (a) When ice is heated, it turns to water. (b) Wet clothes dry on a warm summer day...
-
Four masses are positioned at the corners of a rectangle, as indicated in FIGURE 12-35. (a) Find the magnitude and direction of the net force acting on the 2.0-kg mass. (b) How do your answers to...
-
Every year the National Football League invites 335 draft eligible college football players to a scouting combine where they participate in a variety of drills and exercises. One of the more popular...
-
Compute the rate of return for the following cash flow to within 0.5%. Year Cash Flow 0..............................-$640 1.....................................0...
-
Chris Cornell purchased a rental property on January 1, 2023, for $400,000. Not considering the value of the land, the building's cost is $320,000 (as CCA does not apply to land). The building falls...
-
Three years ago. Karen Suez and her brother-in-law Reece Jones opened Glgasales Department Store. For the first 2 years, business was good, but the following condensed income statement results for...
-
Which of the following is true about the shadow price for a resource? It measures the maximum usage possible for a resource. It measures the impact on profit for a one-unit change in a resource's...
-
The amount of particulate matter in the air of a certain region was increasing exponentially with time due to malfunctioning scrubbers in a factory's chimneys. It was concluded that the amount of...
-
Complete the table below with information about two regular polygons. Show calculations for each polygon. Regular Polygon Calculations for the sum of the interior angles Sum of the interior angles x=...
-
transformational leadership and autocratic leadership style in nursing evaluate and compare this two leadership style ?
-
Two risk neutral players compete to win a prize, P. The probability of winning depends on effort; the probability that player i wins equals ev(e1+e2), where ei is the effort level of player i. The...
-
2. What error in reasoning involves treating(HD) as being approximately equal to P(H) in the general case? p(H1)
-
For this assignment, there are three Possible Areas of Focus Benefits Realization Management Strategy Alignment Application of Metrics Find an organization and apply at least two of the three areas...
-
Will the prediction interval always be wider than the estimation interval for the same value of the independent variable? Briefly explain.
-
A toy manufacturer that specialises in making fad items has just developed a 50000 moulding machine for producing a special toy. The machine has been used to produce only one unit so far. The company...
-
Given below are a number of charts, each indicating some relationship between cost and a cost driver. No attempt has been made to draw these charts to any particular scale; the absolute numbers on...
-
Describe how JIT systems affect product costing.
-
Plaintiffs purchased stock warrants (rights to purchase) for blocks of Osborne Computer Corp., the manufacturer of the first mass-market portable personal computer. Because of inability to produce a...
-
Lynn Goldsmith is a photographer known for her photographs of famous musicians. In 1981, Goldsmith had a photography session with the singer Prince. Three years later, Vanity Fair obtained a license...
-
Stone Brewing Co. is a San Diego brewer that has sold its beers for over two decades. Stone has maintained its trademark and brand from the beginning, registering the STONE mark in 1998. Stone has...
Study smarter with the SolutionInn App