The following information relates to the manufacturing operations of O'Shaughnessy Mfg. Co. during the month of March. The company uses job order costing.
A. Purchases of direct materials during the month amount to $53,000. (All purchases were made on account).
B. Materials requisitions issued by the Production Department during the month total $59,000.
C. Time cards of direct workers show 2,000 hours worked on various jobs during the month, for a total direct labor cost of $32,000.
D. Direct workers were paid $28,000 in March.
E. Actual overhead costs for the month amount to $36,000 (for simplicity, you may credit Accounts Payable).
F. Overhead is applied to jobs at a rate of $18 per direct labor hour.
G. Jobs with total accumulated costs of $110,000 were completed during the month.
H. During March, units costing $120,000 were sold for $220,000. (All sales were made on account).
Instructions:
Prepare general journal entries to summarize each of these transactions in the companyâs general ledger accounts.
Answers: 1
Business, 21.06.2019 23:20
On october 2, 2016 starbucks corporation reported, on its form 10-k, the following (in millions): total assets $14,329.5 total stockholders' equity 5,890.7 total current liabilities 4,546.9 what did starbucks report as total liabilities on october 2, 2016? select one: a. $12,516.7 million b. $6,377.3 million c. $995.0 million d. $8,438.8 million e. none of the above
Answers: 2
Business, 22.06.2019 06:40
As a finance manager at allsports communication, charlie worries about the firm's borrowing requirements for the upcoming year. he knows the benefit of estimating allsports' cash disbursements and short-term investment expectations. facing these concerns, a(n) would provide charlie with valuable information by providing a good estimation of whether the firm will need to do short-term borrowing. capital budget cash budget operating budget line item budget
Answers: 3
Business, 22.06.2019 20:20
Amanager of a store that sells and installs spas wants to prepare a forecast for january and june of next year. her forecasts are a combination of trend and seasonality. she uses the following equation to estimate the trend component of monthly demand: ft = 30+5t, where t = 1 in january of this year. seasonal relatives are 0.60 for january and 1.50 for june. what demands should she predict for january and june of next year
Answers: 2
Business, 22.06.2019 23:40
Gif the federal reserve did not regulate fiscal policy, monitor banks and provide services for banks, what would most likely be the economic conditions to transact business in the u.s.? the economy would primarily be based on a barter system rather than a fiat system. there would be no discrimination in lending by local banks. the economy would be less efficient and transactions most likely more costly.
Answers: 1
The following information relates to the manufacturing operations of O'Shaughnessy Mfg. Co. during t...
Mathematics, 31.03.2020 06:27
History, 31.03.2020 06:27
Mathematics, 31.03.2020 06:27
Chemistry, 31.03.2020 06:27
Social Studies, 31.03.2020 06:28
History, 31.03.2020 06:28
Mathematics, 31.03.2020 06:28