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In: Accounting
Entries for Direct Labor and Factory Overhead Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a...
Entries for Direct Labor and Factory Overhead
Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from November jobs are summarized as follows:
| Job 201 | $4,250 |
| Job 202 | 2,120 |
| Job 203 | 1,680 |
| Job 204 | 3,130 |
| Factory supervision | 1,450 |
Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $20 per direct labor hour. The direct labor rate is $13 per hour.
If required, round final answers to the nearest dollar.
a. Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank.
b. Journalize the entry to apply factory overhead to production for November.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
I'll rate Entries for Direct Labor and Factory Overhead Townsend Industries Inc. manufactures recreational vehicles. Townsend...
I'll rate
Entries for Direct Labor and Factory Overhead
Townsend Industries Inc. manufactures recreational vehicles.
Townsend uses a job order cost system. The time tickets from
November jobs are summarized as follows:
Job 201
$3,610
Job 202
1,800
Job 203
1,420
Job 204
2,660
Factory supervision
1,230
Factory overhead is applied to jobs on the basis of a
predetermined overhead rate of $20 per direct labor hour. The
direct labor rate is $13 per hour.
If required, round final answers...
Entries for Direct Labor and Factory Overhead Schumacher Industries Inc. manufactures recreational vehicles. Schumacher Industries uses...
Entries for Direct Labor and Factory Overhead
Schumacher Industries Inc. manufactures recreational vehicles.
Schumacher Industries uses a job order cost system. The time
tickets from June jobs are summarized as follows:
Job 11-101
$2,240
Job 11-102
1,520
Job 11-103
1,200
Job 11-104
1,830
Job 11-105
1,200
Factory supervision
1,040
Factory overhead is applied to jobs on the basis of a
predetermined overhead rate of $30 per direct labor hour. The
direct labor rate is $17 per hour.
a. Journalize the...
Direct Materials, Direct Labor, and Factory Overhead CostVariance AnalysisMackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance AnalysisMackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 78,000 units of
product were as follows:Standard CostsActual CostsDirect materials226,200 lbs. at $5.30223,900 lbs. at $5.10Direct labor19,500 hrs. at $16.6019,950 hrs. at $17.00Factory overheadRates per direct labor hr.,based on 100% of normalcapacity of 20,350 directlabor hrs.:Variable cost, $4.30$83,010 variable costFixed cost, $6.80$138,380 fixed costEach unit...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 74,000 units of product were as follows: Standard CostsActual CostsDirect materials251,600 lbs. at $5.40249,100 lbs. at $5.20Direct labor18,500 hrs. at $17.3018,930 hrs. at $17.70Factory overheadRates per direct labor hr.,based on 100% of normalcapacity of 19,310 directlabor hrs.:Variable cost, $4.80$87,910 variable costFixed cost, $7.60$146,756 fixed costEach unit...
The Jack and Sal Company uses direct labor hours for estimating factory overhead rate. An estimated...
The Jack and Sal Company uses direct labor hours for
estimating factory overhead rate. An estimated factory overhead is
$500,000 for the year. An estimated direct labor cost for the year
is $100,000, and estimated direct labor hours for the year is
200,000 hours.
The following additional information is
provided:
Beginning work in process is $300,000;
Actual Direct Labor cost is $150,000;
Actual Cost of Direct Materials used is
$200,000;
actual direct labor hours used 200,000 hours;
and
the tot...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis
Mackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 78,000 units of
product were as follows:
Standard Costs
Actual Costs
Direct materials
226,200 lbs. at $5.60
223,900 lbs. at $5.50
Direct labor
19,500 hrs. at $18.20
19,950 hrs. at $18.50
Factory overhead
Rates per direct labor hr.,
based on 100% of normal
capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis
Mackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 70,000 units of
product were as follows:
Standard Costs
Actual Costs
Direct materials
238,000 lbs. at $5.30
235,600 lbs. at $5.20
Direct labor
17,500 hrs. at $16.40
17,900 hrs. at $16.80
Factory overhead
Rates per direct labor hr.,
based on 100% of normal
capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis Mackinaw Inc. processes a base chemical into
plastic. Standard costs and actual costs for direct materials,
direct labor, and factory overhead incurred for the manufacture of
74,000 units of product were as follows: Standard Costs Actual
Costs Direct materials 192,400 lbs. at $4.70 190,500 lbs. at $4.50
Direct labor 18,500 hrs. at $18.40 18,930 hrs. at $18.80 Factory
overhead Rates per direct labor hr., based on 100% of normal
capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis
Mackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 70,000 units of
product were as follows:
Standard Costs
Actual Costs
Direct materials
182,000 lbs. at $4.90
180,200 lbs. at $4.80
Direct labor
17,500 hrs. at $17.60
17,900 hrs. at $17.90
Factory overhead
Rates per direct labor hr.,
based on 100% of normal
capacity...
Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical...
Direct Materials, Direct Labor, and Factory Overhead Cost
Variance Analysis
Mackinaw Inc. processes a base chemical into plastic. Standard
costs and actual costs for direct materials, direct labor, and
factory overhead incurred for the manufacture of 78,000 units of
product were as follows:
Standard Costs
Actual Costs
Direct materials
249,600 lbs. at $5.40
247,100 lbs. at $5.30
Direct labor
19,500 hrs. at $17.20
19,950 hrs. at $17.50
Factory overhead
Rates per direct labor hr.,
based on 100% of normal
capacity...
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