Question
The journal entry to record applying overhead during the production process is: A) Manufacturing Overhead XXX...
The journal entry to record applying overhead during the production process is:
A)
|
Manufacturing Overhead |
XXX |
|
|
Work In Process |
XXX |
B)
|
Finished Goods |
XXX |
|
|
Manufacturing Overhead |
XXX |
C)
|
Manufacturing Overhead |
XXX |
|
|
Finished Goods |
XXX |
D)
|
Work In Process |
XXX |
|
|
Manufacturing Overhead |
XXX |
explain.
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Exercise 3-8 (Algo) Applying Overhead; Journal Entries; Disposing of Underapplied or Overapplied Overhead [LO3-1, LO3-2, LO3-4]...
Exercise 3-8 (Algo) Applying Overhead; Journal Entries;
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LO3-4]
The following information is taken from the accounts of Latta
Company. The entries in the T-accounts are summaries of the
transactions that affected those accounts during the year.
Manufacturing Overhead
(a)
474,624
(b)
395,520
Bal.
79,104
Work in Process
Bal.
15,480
(c)
734,000
281,000
88,000
(b)
395,520
Bal.
46,000
Finished Goods
Bal.
44,000
(d)
652,000
(c)
734,000
Bal.
126,000
Cost of Goods Sold
(d)...
When manufacturing overhead costs are assigned to production in a process cost system, they are credited...
When manufacturing overhead costs are assigned to production in
a process cost system, they are credited to
Select one:
a. a Manufacturing Overhead account.
b. none of these types of accounts.
c. a Work in Process account.
d. a Finished Goods Inventory account.
e. Cost of Goods Sold.
Christine Corp. applies manufacturing overhead to production at 85% of direct labor cost. During 2015, manufacturing...
Christine Corp. applies manufacturing overhead to production at
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was $188,500. Beginning Work in Process Inventory was $23,600, and
beginning Finished Goods Inventory was $45,000. Work in Process
Inventory decreased by 10% during the year and Finished Goods
Inventory decreased by 20% during the year. Adjusted Cost of Goods
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Complete the following schedule:
Direct Materials Used in Porduction:...
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Applied vs. Actual Manufacturing Overhead
Davis Manufacturing Corporation applies manufacturing overhead
on the basis of 150% of direct labor cost. An analysis of the
related accounts and job order cost sheet indicates that during the
year total manufacturing overhead incurred was $472,500 and that at
year-end Work in Process Inventory, Finished Goods Inventory, and
Cost of Goods Sold included $60,000, $30,000, and $210,000,
respectively, of direct labor incurred during the current year.
a. Determine the under applied manufacturing overhead at...
9) Entry (11) in the below T-account could represent overhead cost applied to Work in Process....
9) Entry (11) in the below T-account could represent overhead
cost applied to Work in Process.
Work In Process
Bal.
40,000
(11)
330,000
(2)
100,000
(3)
90,000
(7)
120,000
Bal.
20,000
10) Entry (1) in the below T-account represents the purchase
rather than use of raw materials.
Raw Materials
Bal.
10,000
(2)
60,000
(1)
70,000
Bal.
20,000
11) In a job-order costing system, indirect labor cost is
usually recorded as a debit to:
A) Manufacturing Overhead.
B) Finished Goods.
C)...
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The canoes are then transferred to the Waterproofing department to
be coated with sealant. Arizaga uses a weighted-average process
cost system to collect costs in both departments.
All materials in the Fabrication Department are added at the
beginning of the production process. On July 1, the Fabrication
Department had 320 canoes in process that were 20% complete...
Piekos Corporation incurred $90,000 of actual Manufacturing Overhead costs during June. During the same period, the...
Piekos Corporation incurred $90,000 of actual Manufacturing
Overhead costs during June. During the same period, the
Manufacturing Overhead applied to Work in Process was $92,000. The
journal entry to record the application of Manufacturing Overhead
to Work in Process would include a:
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The chief cost...
Factory Overhead Rate, Entry for Applying Factory Overhead, and
Factory Overhead Account Balance
The chief cost accountant for Kenner Beverage Co. estimated that
total factory overhead cost for the Blending Department for the
coming fiscal year beginning May 1 would be $571,200, and total
direct labor costs would be $476,000. During May, the actual direct
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totaled $51,150.
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rate based on direct labor cost? Enter...
The following information is taken from the accounts of Latta Company. The entries in the T-accounts...
The following information is taken from the accounts of Latta
Company. The entries in the T-accounts are summaries of the
transactions that affected those accounts during the year.
Manufacturing Overhead
(a)
488,448
(b)
407,040
Bal.
81,408
Work in Process
Bal.
9,960
(c)
758,000
302,000
91,000
(b)
407,040
Bal.
52,000
Finished Goods
Bal.
38,000
(d)
664,000
(c)
758,000
Bal.
132,000
Cost of Goods Sold
(d)
664,000
The overhead that had been applied to production during the year
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The entry to dispose of overapplied manufacturing overhead will include a: a. Debit to cost of...
The entry to dispose of overapplied manufacturing overhead will
include a:
a.
Debit to cost of goods sold and a credit to manufacturing
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b.
Debit to cost of goods sold and a credit to finished goods.
c.
Debit to manufacturing overhead and a credit to cost of goods
sold.
d.
Debit to finished goods and a credit to manufacturing
overhead.
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