The following information is available for Lock-Tite Company, which produces special-order security products and uses a...
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The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost April 30 May 31 $49,000 9,900 61,000 $ 36,000 19, 700 34,500 182,000 250,000 13,000 57,500 120,000 1,500,000 55% 5 4 of 4 ook inc rint ences USTELL LOUI CUDL 1. Incurred other overhead costs (record credit to Other Accounts). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet 8 Record the application of overhead to work in process. < Prax of 10 Next > Check my work hapter 15 Graded Exercises 6 art 4 of 4 14 pints eBook Hint Print Ac Sraw fill Required information B Record the application of overhead to work in process. Note: Enter debits before credits. Transaction 2 General Journal Work in process inventory Factory overhead Saved < Prex 96 Debit of 10 Credit Next > Help Save & Exit Submit Check my work The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost April 30 May 31 $49,000 9,900 61,000 $ 36,000 19, 700 34,500 182,000 250,000 13,000 57,500 120,000 1,500,000 55% 5 4 of 4 ook inc rint ences USTELL LOUI CUDL 1. Incurred other overhead costs (record credit to Other Accounts). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet 8 Record the application of overhead to work in process. < Prax of 10 Next > Check my work hapter 15 Graded Exercises 6 art 4 of 4 14 pints eBook Hint Print Ac Sraw fill Required information B Record the application of overhead to work in process. Note: Enter debits before credits. Transaction 2 General Journal Work in process inventory Factory overhead Saved < Prex 96 Debit of 10 Credit Next > Help Save & Exit Submit Check my work
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Transaction General Journal Debit Credit Factory Overhead 1200... View the full answer
Related Book For
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
Posted Date:
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