- Went 2 Weeks 687 Chapter 5 3 E Is Manufacturing Overhead Underapplied Or Overapplied For The Year O Overapplied Ove 1 (32.17 KiB) Viewed 3 times
- Went 2 Weeks 687 Chapter 5 3 E Is Manufacturing Overhead Underapplied Or Overapplied For The Year O Overapplied Ove 2 (22.9 KiB) Viewed 3 times
Assignment Weeks (47 (Chapter 5 24 p 4 Ravsten Company uses a job-order costing system. On January t the beginning of the current year, the company's inventory balances were as follows materials in process Finished g $19,00 The company applies overhead cost to jobs on the basis of machine hours. For the current year, the company estimated that it would work 36.600 machine-hours and incur $160.530 in manufacturing overhead cost. The following transactions were recorded for the a Raw mates were purchased on account $212.000 Raw materials were requisitioned for use in production $196.000 (80% direct and 20% indirect The following costs were incurred for employee services Dirt Labur Indirect labor Sales comissions Axistrative salaries lover $164, $ 28,200 $ 37,000 it Heat power and water costs were incurred in the factory: $44700 Piepatt nurance expired during the year $13.000 (85% relates to factory operations, and 15% relates to selling and administrative activities) Advertising costs were incurred $53,000 9 Depreciation was recorded for the year $63.600 (90% relates to factory operations, and 10% relates to selling and administrative activities ht. Manufacturing overhead cost was applied to production. The company recorded 41.200 machine hours for the year 1 Goods that cost $506,500 to manufacture according to their job cost sheets were transfered to the finished goods warehouse Sales for the year toated $727900 and were alt on account. The total cost to manufacture these goods according to the job cost sheets was $500,000 Required 1. Prepare journal entries to record the transactions given above. (Do not round intermediate calculations. If no entry is required for