Hardy company manufactures a single product by a continuous process, involving two production departments. the records indicate that $140,000 of direct materials were issued to and $200,000 of direct labor was incurred by department 1 in the manufacture of the product. the factory overhead rate is $25 per machine hour; machine hours were 5,000 in department 1. work in process in the department at the beginning of the period totaled $35,000; and work in process at the end of the period was $25,000. prepare entries to record

Explanation:

In this question, we record the entries of raw material inventory, factory labor, and the manufacturing overhead

The journal entries are shown below:

1. Work in Process - Dept. 1 A/c Dr $140,000

     To Raw Materials Inventory$140,000

(Being the raw material is issued)

2. Work in Process - Dept. 1 A/c Dr  $200,000

        To Direct Labor A/c  $200,000

(Being the direct labor is recorded)

3. Work in Process - Dept. 1 A/c Dr  $125,000   (5,000 × $25)

      To Manufacturing overhead A/c $125,000

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.