subject
Business, 26.10.2019 05:43 jelopez4

Burlington clock works manufactures fine, handcrafted clocks. the firm uses a job-order costing system, and manufacturing overhead is applied on the basis of direct-labor hours. estimated manufacturing overhead for the year is $240,000. the firm employs 10 master clockmakers, who constitute the direct-labor force. each of these employees is expected to work 2,000 hours during the year, which represents each employee’s practical capacity. the following events occurred during october. a. the firm purchased 3,000 board feet of mahogany veneer at $11 per board foot. b. twenty brass counterweights were requisitioned for production. each weight cost $23.c. five gallons of glue were requisitioned for production. the glue cost $20 per gallon. glue is treated as an indirect material. d. depreciation on the clockworks building for october was $8,000.e. a $400 utility bill was paid in cash. f. time cards showed the following usage of labor: job number g60: 12 grandfather’s clocks, 1,000 hours of direct labor job number c81: 20 cuckoo clocks, 700 hours of direct labor the master clockmakers (direct-labor personnel) earn $20 per hour. g. the october property tax bill for $910 was received but has not yet been paid in cash. h. the firm employs laborers who perform various tasks such as material handling and shop cleanup. their wages for october amounted to $2,500.i. job number g60, which was started in july, was finished in october. the total cost of the job was $14,400.j. nine of the grandfather’s clocks from job number g60 were sold in october for $1,500 each. prepare journal entries to record the events described aboveex

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 05:10
Suppose that the free states of eldricia, a small nation, has consumption, investment, government purchases, imports, and exports as follows. consumption $140 investment $50 government purchases $45 imports $30 exports $15 calculate the free states of eldricia's gdp
Answers: 2
question
Business, 22.06.2019 20:00
Double corporation acquired all of the common stock of simple company for
Answers: 1
question
Business, 22.06.2019 23:50
Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours.required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)
Answers: 2
question
Business, 23.06.2019 00:50
Exercise 12-7 shown below are comparative balance sheets for flint corporation. flint corporation comparative balance sheets december 31 assets 2017 2016 cash $ 201,348 $ 65,142 accounts receivable 260,568 225,036 inventory 494,487 559,629 land 236,880 296,100 equipment 769,860 592,200 accumulated depreciation—equipment (195,426 ) (94,752 ) total $1,767,717 $1,643,355 liabilities and stockholders’ equity accounts payable $ 115,479 $ 127,323 bonds payable 444,150 592,200 common stock ($1 par) 639,576 515,214 retained earnings 568,512 408,618 total $1,767,717 $1,643,355 additional information: 1. net income for 2017 was $275,373. 2. depreciation expense was $100,674. 3. cash dividends of $115,479 were declared and paid. 4. bonds payable amounting to $148,050 were redeemed for cash $148,050. 5. common stock was issued for $124,362 cash. 6. no equipment was sold during 2017. 7. land was sold for its book value. prepare a statement of cash flows for 2017 using the indirect method.
Answers: 1
You know the right answer?
Burlington clock works manufactures fine, handcrafted clocks. the firm uses a job-order costing syst...
Questions
question
Business, 08.12.2020 21:10
question
English, 08.12.2020 21:10
question
Health, 08.12.2020 21:10
question
Biology, 08.12.2020 21:10
question
World Languages, 08.12.2020 21:10
Questions on the website: 13722363