Question
In: Accounting
1. Explain how direct labor costs flow through a job-order cost system. 2. Explain how manufacturing...
1. Explain how direct labor costs flow through a job-order cost system.
2. Explain how manufacturing overhead costs flow through a job-order cost system.
Solutions
ekkarill92 answered 7 months agoRelated Solutions
1) Describe cost systems and the flow of costs in a job order system? 2) How...
1) Describe cost systems and the flow of costs in a job order
system?
2) How does a company determine and use the predetermined
overhead rate?
3) Distinguish between under- and overapplied manufacturing
overhead and what does each mean to the company?
describe the flow of manufacturing cost in a Job Order Cost System.
describe the flow of manufacturing cost in a Job Order Cost
System.
Discuss cost systems and the flow of costs in a job order system Discuss how to...
Discuss cost systems and the flow of costs in a job order
system
Discuss how to determine and use a predetermined overhead rate -
include how to calculate the predetermined overhead rate
Discuss journal entries for assigning costs to jobs and what
entries are needed when a jobs is completed and sold
Discuss under and overapplied manufacturing overhead
In a job order cost accounting system, the entry to record the flow of direct materials...
In a job order cost accounting system, the entry to record the flow of direct materials into production is:
a. Debit Work in Process, credit Materials.
b. Debit Factory Overhead, credit Materials.
c. Debit Materials, credit Work in Process.
d. Debit Work in Process, credit Supplies.
Zella Co. uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor)...
Zella Co. uses a job-costing system with two direct-cost
categories (direct materials and direct manufacturing labor) and
one manufacturing overhead cost pool. Zella allocates manufacturing
overhead costs using direct manufacturing labor costs. Zella
provides the following information:
Budget for 2018
Actual Results for 2018
Direct material costs
$2,000,000
$1,900,000
Direct manufacturing labor hours
1,500
1,480
Manufacturing overhead costs
2,900,000
2,950,000
Compute the actual and budgeted manufacturing overhead rates
for 2018. (1pt)
At the end of 2018, compute the under- or...
Zella Co. uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor)...
Zella Co. uses a job-costing system with two direct-cost
categories (direct materials and direct manufacturing labor) and
one manufacturing overhead cost pool. Zella allocates manufacturing
overhead costs using direct manufacturing labor costs. Zella
provides the following information:
Budget for 2018
Actual Results for 2018
Direct material costs
$2,000,000
$1,900,000
Direct manufacturing labor hours
1,500
1,480
Manufacturing overhead costs
2,900,000
2,950,000
Compute the actual and budgeted manufacturing overhead rates
for 2018. (1pt)
At the end of 2018, compute the under- or...
Describe the flow of costs in a "Job Oder Cost System" and explain the use of...
Describe the flow of costs in a "Job Oder Cost System" and
explain the use of a job cost sheet in accounting for material,
labor and overhead costs.
Entries for Costs in a Job Order Cost System Velasco Co. uses a job order cost...
Entries for Costs in a Job Order Cost System
Velasco Co. uses a job order cost system. The following data
summarize the operations related to production for July:
Materials purchased on account, $695,900
Materials requisitioned, $584,560, of which $75,990 was for
general factory use
Factory labor used, $716,780, of which $136,190 was
indirect
Other costs incurred on account for factory overhead, $167,020;
selling expenses, $257,480; and administrative expenses,
$153,100
Prepaid expenses expired for factory overhead, $32,010; for
selling expenses, $27,140;...
Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost...
Entries for Costs in a Job Order Cost System
Munson Co. uses a job order cost system. The following data
summarize the operations related to production for July:
Materials purchased on account, $732,780
Materials requisitioned, $615,540, of which $80,020 was for
general factory use
Factory labor used, $754,760, of which $143,400 was
indirect
Other costs incurred on account for factory overhead, $175,870;
selling expenses, $271,130; and administrative expenses,
$161,210
Prepaid expenses expired for factory overhead, $33,710; for
selling expenses, $28,580;...
Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost...
Entries for Costs in a Job Order Cost System
Munson Co. uses a job order cost system. The following data
summarize the operations related to production for July:
Materials purchased on account, $496,630
Materials requisitioned, $417,170, of which $54,230 was for
general factory use
Factory labor used, $511,530, of which $97,190 was
indirect
Other costs incurred on account for factory overhead, $119,190;
selling expenses, $183,750; and administrative expenses,
$109,260
Prepaid expenses expired for factory overhead, $22,840; for
selling expenses, $19,370;...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Post Card Depot, an large retailer of post cards, orders 5,784,638 post cards per year from...
- Is bullying a developmental phase? Why or why not?
- Explain why it is important for Starbucks to expand from North American market to China. Give...
- Critically analyze the marketing campaign of a selected / reputed organization of your choosing during the...
- A digital (European) option is an option which would pay nothing if the option is OTM...
- Discuss the film and consider how Gender Dysphoria impacts families and individual. Consider the controversy that...
- if 760 wbc are counted in 8 large squares (4 on each side) of a hemocytometer...
ADVERTISEMENT