Question
In: Accounting
During the month of March, Special Corporation incurred the following manufacturing costs. Depreciation of factory building...
During the month of March, Special Corporation incurred the following manufacturing costs. Depreciation of factory building $1250. Employer fringe benefits payable $4,950. Factory wages payable $48,200. Factory building insurance payable $1725. Raw ,aterials on account $20,000. Raw materials purchased for cash $21,600. Utilities for factory not yet paid $4000. Depreciation of factory equipment $2400. Insurance for factory used up $3300.
there should be 3 sets of journals, journalize in order thank you
Solutions
ekkarill92 answered 2 years agoRelated Solutions
On March 31, 2017, Alpha Corporation recorded the following factory overhead costs incurred: Factory Manager Salary...
On March 31, 2017, Alpha Corporation recorded the following
factory overhead costs incurred: Factory Manager Salary $6,000
Factory Utilities 2,500 Machinery Deprecation 10,000 Machinery
Repairs 2,000 Factory Insurance (prepaid) 1,000 The overhead
application rate is based on direct labor hours. The preset formula
for overhead application estimated that $21,000 would be incurred,
and 10,000 direct labor hours would be worked. During March, 7,100
hours were actually worked on Job Order A-2 and 3,000 hours were
actually worked on Job Order...
On March 31, 2019, Dorchester Corporation recorded the following factory overhead costs incurred: Factory Manager Salary &n
On March 31, 2019, Dorchester Corporation recorded the
following factory overhead costs incurred:
Factory
Manager
Salary $5,500
Factory
Utilities 2,800
Machinery
Deprecation 9,000
Machinery
Repairs 1,800
Factory
Rent 2,000
The overhead application rate is based on direct labor
hours. The preset formula for overhead application
estimated that $22,000 would be incurred, and 2,000 direct labor
hours would be worked. During March, 650 hours were actually worked
on Job Order 3-1 and 1,200 hours were actually worked on Job Order
3-2. Use this...
During the month of January, the following costs were incurred:
During the month of January, the following costs were incurred:
2010
Jan 8 Purchased Materials for cash, $150,000
Jan 10 Requisition for Direct Materials that were put into production, $100,000
Jan 20 Requisitioned for Indirect Materials that were put into production, $4,000.
Jan 23 Direct Labor cost incurred during the period, $60,000 when the labor rate per hour was $5.
Jan 25 Indirect labor cost incurred during the month of January is $6,000.
Jan 28 Paid factory supervisor’s salaries...
A business operated at 100% of capacity during its first month and incurred the following costs:...
A business operated at 100% of capacity during its first month
and incurred the following costs:
Production costs (18,600 units):
Direct materials
$172,100
Direct labor
234,800
Variable factory overhead
267,600
Fixed factory overhead
100,300
$774,800
Operating expenses:
Variable operating expenses
$131,500
Fixed operating expenses
46,900
178,400
If 1,800 units remain unsold at the end of the month, what is
the amount of inventory that would be reported on the variable
costing balance sheet?
The actual price for a product was...
A business operated at 100% of capacity during its first month and incurred the following costs:...
A business operated at 100% of capacity during its first month
and incurred the following costs:
Production costs (18,100 units):
Direct materials
$171,800
Direct labor
220,400
Variable factory overhead
256,100
Fixed factory overhead
102,000
$750,300
Operating expenses:
Variable operating expenses
$128,600
Fixed operating expenses
43,000
171,600
If 1,600 units remain unsold at the end of the month and sales
total $1,143,000 for the month, what would be the amount of income
from operations reported on the variable costing income
statement?...
During the past month, the following costs were incurred in the three production departments and two...
During the past month, the following costs were incurred in the
three production departments and two service departments of Kim
& Co.:
Using Department
Supplying Department
Administration
Factory Support
Fabrication
Assembly
Finishing
Administration
−
0.40
0.30
0.20
0.10
Factory support
0.15
−
0.15
0.15
0.55
Direct cost
$
680,000
$
1,350,000
$
1,760,000
$
288,000
$
258,000
Required:
Allocate service department costs to Fabrication, Assembly, and
Finishing using the reciprocal method, and determine the total
costs of Fabrication, Assembly, and...
During the past month, the following costs were incurred in the three production departments and two...
During the past month, the following costs were incurred in the
three production departments and two service departments of Kim
& Co.:
Using Department
Supplying Department
Administration
Factory Support
Fabrication
Assembly
Finishing
Administration
?
0.40
0.20
0.10
0.30
Factory support
0.10
?
0.10
0.20
0.60
Direct cost
$
570,000
$
1,295,000
$
1,650,000
$
277,000
$
247,000
Required:
Allocate service department costs to Fabrication, Assembly, and
Finishing using the reciprocal method, and determine the total
costs of Fabrication, Assembly, and...
A business operated at 100% of capacity during its first month and incurred the following costs:...
A business operated at 100% of capacity during its first month
and incurred the following costs:
Production costs (10,000 units):
Direct materials
$170,000
Direct labor
360,000
Variable factory overhead
190,000
Fixed factory overhead
50,000
$770,000
Operating expenses:
Variable operating
expenses
$
60,000
Fixed operating expenses
18,000
78,000
If 500 units remain unsold at the end of the month, what is the
amount of inventory that would be reported on the variable costing
balance sheet?
a.$41,500
b.$42,800
c.$38,500
d.$36,000
A business operated at 100% of capacity during its first month and incurred the following costs:...
A business operated at 100% of capacity during its first month
and incurred the following costs:
Production costs (5,000 units):
Direct materials-$70,000
Direct labor-20,000
Variable factory overhead-10,000
Fixed factory overhead-20,000
total $102,000
Operating expenses:
Variable operating expenses-$17,000
Fixed operating expenses-1,000
total $18000
Prepare a variable income statement assuming 1000 units remain
unsold at the end of the month and sales total $160,000 for the
month
During the past month, the following costs were incurred in the three production departments and two...
During the past month, the following costs were incurred in the
three production departments and two service departments of Kim
& Co.:
Using Department
Supplying Department Administration Factory Support Fabrication
Assembly Finishing
Administration − 0.40 0.30 0.20 0.10
Factory support 0.10 − 0.30
0.10 0.50
Direct cost $ 520,000 $ 1,270,000 $ 1,600,000 $ 272,000 $
242,000
Required: Allocate service department costs to Fabrication,
Assembly, and Finishing using the reciprocal method, and determine
the total costs of Fabrication, Assembly, and...
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