Required Information The Following Information Applies To The Questions Displayed Below The Following Information Is A 1 (28.61 KiB) Viewed 9 times
Required Information The Following Information Applies To The Questions Displayed Below The Following Information Is A 2 (28.4 KiB) Viewed 9 times
Required Information The Following Information Applies To The Questions Displayed Below The Following Information Is A 3 (29.69 KiB) Viewed 9 times
Required information [The following information applies to the questions displayed below] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost - Incurred other overhead costs (record credit to Other Accounts). Application of overhead to work in process repare journal entries for the above transactions for the month of May. View transaction April 30 $38,000 9,200 68,000 S May 31 34,000 18,900 34,000 175,000 250,000 12,000 57,500 111,000 1,900,000 55%
24:28 . 1. Incurred other overhead costs (record credit to Other Accounts) 2. Application of overhead to work in process. Prepare journal entries for the above transactions for the month of May. View transaction Journal entry worksheet Record other Factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal
1. Incurred other overhead costs (record credit to Other Accounts). 2. Application of overhead to work in process Prepare journal entries for the above transactions for the month of May. Journal entry worksheet Record the application of overhead to work in process. Note: Enter debits before credits. Transaction 2 Record entry General Journal clear entry Debil Credit View general journal
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