Business, 17.02.2020 19:55 ashlee7877

Watson Manufacturing Company employs a job order cost accounting system and keeps perpetual inventory records. The following transactions occurred in the first month of operations:

1. Direct materials requisitioned during the month:

Job 101 $20,000
Job 102 16,000
Job 103 24,000
$60,000

2. Direct labor incurred and charged to jobs during the month was:

Job 101 $30,000
Job 102 28,000
Job 103 20,000
$78,000

3. Manufacturing overhead was applied to jobs worked on using a predetermined overhead rate based on 75% of direct labor costs.
4. Actual manufacturing overhead costs incurred during the month amounted to $66,000.
5. Job 101 consisting of 1,000 units and Job 103 consisting of 200 units were completed during the month.

Prepare journal entries to record the above transactions.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 10:30

Which analyst position analyzes information using mathematical models to business managers make decisions? -budget analyst -management analyst -credit analyst -operations research analyst

Answers: 1

Answer

Business, 22.06.2019 11:00

T-comm makes a variety of products. it is organized in two divisions, north and south. the managers for each division are paid, in part, based on the financial performance of their divisions. the south division normally sells to outside customers but, on occasion, also sells to the north division. when it does, corporate policy states that the price must be cost plus 20 percent to ensure a "fair" return to the selling division. south received an order from north for 300 units. south's planned output for the year had been 1,200 units before north's order. south's capacity is 1,500 units per year. the costs for producing those 1,200 units follow

Answers: 1

Answer

Business, 22.06.2019 12:10

Drag each label to the correct location on the image determine which actions by a manager are critical interactions - listening to complaints - interacting with customers - responding to complaints - assigning staff duties -taking action to address customer grievances -keeping track of reservations

Answers: 2

Answer

Business, 22.06.2019 14:20

Frugala is when sylvestor puts $2,000 into 10-year state bonds and $3,000 into 5-year aaa-rated bonds in steady hand hardware, inc. he buys the four state bonds at a 5 percent interest rate and the three steady hand bonds at a 6.5 percent rate. sylvestor also buys $1,500 worth of blue chip stocks, and $800 worth of stock in a promising new sportswear company that reinvests its earnings in new growth. 1. (a) what is the maturity for each of the bond groups sylvestor buys? (b) the coupon rate? (c) the par value?

Answers: 3

Answer

You know the right answer?

Watson Manufacturing Company employs a job order cost accounting system and keeps perpetual inventor...

Questions