Question

7. COMPUTE MANUFACTURING OVERHEAD: FACTORY RENT=1,000 FACTORY UTILITIES=2,000 OFFICE DEPRECIATION=4,000 8. PREPARE THE JOURNAL ENTRY TO...

7. COMPUTE MANUFACTURING OVERHEAD:

FACTORY RENT=1,000

FACTORY UTILITIES=2,000

OFFICE DEPRECIATION=4,000

8. PREPARE THE JOURNAL ENTRY TO RECORD 5,000 RM PURCHASED ON ACCOUNT

Homework Answers

Answer #1

Question-7

Manufacturing Overhead = Factory rent + Factory Utilities

= $1,000 + $2,000

= $3,000

*The Office depreciation expense is not a manufacturing overhead cost

Question-8

DESCRIPTION

Debit ($)

Credit ($)

Raw Material Inventory A/c

                    5,000

       To Accounts Payable A/c

                    5,000

[The entry to record the purchase of raw material inventory on account]

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