Jurvin Enterprises recorded the following transactions for the past month. The company had no beginning inventories. b. $102.000 in raw materials were requisitioned for use in production. Of this amount, $88,000 was for direct matertals, and the remalnder was for Indirect materials. c Total labour wages of $146.000 were Incurred and pald. Of this amount, $132,000 was for direct labour, and the remainder was for Indirect labour. d. Other manufacturing overhead costs of $118,000 were incurred and paid. e. Manufacturing overhead costs of $112.000 were applied to jobs Using the company's predetermined overhead rate. f. All of the jobs In progress at the end of the month were completed and shipped to customers. 9. The underapplied or overapplied overhead for the perlod was closed out to cost of goods sold. Required: 1. Post the preceding transactions to T-accounts. Cash Raw Materials End. bal. Work in Process Finished Goods Manufacturing Overhead Cost of Goods Sold
Jurvin Enterprises recorded the following transactions for the past month. The company had no beginning inventories. b. $102.000 in raw materials were requisitioned for use in production. Of this amount, $88,000 was for direct matertals, and the remalnder was for Indirect materials. c Total labour wages of $146.000 were Incurred and pald. Of this amount, $132,000 was for direct labour, and the remainder was for Indirect labour. d. Other manufacturing overhead costs of $118,000 were incurred and paid. e. Manufacturing overhead costs of $112.000 were applied to jobs Using the company's predetermined overhead rate. f. All of the jobs In progress at the end of the month were completed and shipped to customers. 9. The underapplied or overapplied overhead for the perlod was closed out to cost of goods sold. Required: 1. Post the preceding transactions to T-accounts. Cash Raw Materials End. bal. Work in Process Finished Goods Manufacturing Overhead Cost of Goods Sold
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...
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