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In: Accounting
Portside Watercraft uses a job order costing system. During one month Portside purchased $153,000 of raw...
Portside Watercraft uses a job order costing system. During one month Portside purchased $153,000 of raw materials on credit; issued materials to production of $164,000 of which $24,000 were indirect. Portside incurred a factory payroll of $95,000, of which $25,000 was indirect labor. Portside uses a predetermined overhead rate of 170% of direct labor cost. The journal entry to record the application of factory overhead to production is:
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Answer -
The journal entry to record the application of factory overhead to production is:
| General Journal | Debit ($) | Credit ($) |
|
Work in Process Inventory [($95000 - $25000) * 170%] Factory Overhead |
119000 - |
- 119000 |
ekkarill92 answered 3 years agoRelated Solutions
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Minstrel Manufacturing uses a job order costing system. During
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issued materials to production of $195,000 of which $30,000 were
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respectively. Compute the cost of product transferred to Finished
Goods Inventory:
Minstrel Manufacturing uses a job order costing system. Duringone month Minstrel purchased $198,000 of raw...
Minstrel Manufacturing uses a job order costing system. During
one month Minstrel purchased $198,000 of raw materials on credit;
issued materials to production of $195,000 of which $30,000 were
indirect. Minstrel incurred a factory payroll of $150,000, of which
$40,000 was indirect labor. Minstrel uses a predetermined overhead
rate of 150% of direct labor cost. The journal entry to record the
application of factory overhead to production is:
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e.
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f.
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Manufacturing overhead is applied at the predetermined rate of
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Requisitioned materials
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31
Incurred direct labor for
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Question: The Searider Company uses a job-order costing system. The following transactions occurred in April: Raw...
Question:
The Searider
Company uses a job-order costing system. The following transactions
occurred in April:
Raw materials were purchased on account, $180,000.
Raw materials used in production, $148,000 ($130,000 direct
materials and $18,000 indirect materials).
Accrued direct labor cost of $75,000 and indirect labor cost of
$105,000.
Depreciation recorded on factory equipment, $40,000.
Other manufacturing overhead costs accrued during April,
$118,000.
The company applies manufacturing overhead cost to production
using a predetermined overhead rate of $6 per machine-hours. A
total...
The Searider Company uses a job-order costing system. The following transactions occurred in April: Raw materials...
The Searider Company uses a job-order costing system. The
following transactions occurred in April:
Raw materials were purchased on account, $180,000.
Raw materials used in production, $148,000 ($130,000 direct
materials and $18,000 indirect materials).
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$105,000.
Depreciation recorded on factory equipment, $40,000.
Other manufacturing overhead costs accrued during April,
$118,000.
The company applies manufacturing overhead cost to production
using a predetermined overhead rate of $6 per machine-hours. A
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