Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Jamison Woodworking uses normal costing and allocates manufacturing overhead to jobs based on a budgeted labor-hour rate and actual direct labor-hours. Under- or overallocated overhead, if immaterial, is written off to Cost of Goods Sold. During 2014, Jamison recorded the following:Budgeted Manufacturing overhead costs $4,400,000Budgeted direct labor-hours 200,000Actual manufacturing overhead costs $ 4,650,0000Actual direct labor-hours 212,000
1. Compute the budgeted manufacturing overhead rate.
2. Prepare the summary journal entry to record the allocation of manufacturing overhead.
3. Compute the amount of under- or over allocated manufacturing overhead. Is the amount significant enough to warrant proration of overhead costs, or would it be permissible to write it off to cost of goods sold? Prepare the journal entry to dispose of the under- or over allocation overhead.
Charley Company's Assembly Department has materials cost at $3 per unit and conversion cost at $6 per unit. There are 9,000 units in ending work in process, all of which are 70% complete as to conversion costs. How much are total costs to be assig..
In 2010 Down sold $100,000 merchandise to Up at gross margin of 40%. Up's Ending inventory balance at the end of 2010 is $25,000. Prepare the journal entries for 2009 and 2010 to eliminate and adjust for the intercompany transaction.
maynor county officials have concluded that several legally separate entities must be included as component units of
clampett inc. converted to an s corporation on january 1 2012. at that time clampett inc. had cash 40000 inventory fmv
During the period, the Bottling Department completed 60,000 liters, including 3,000 liters of work in process at the beginning of the period. The ending work in process was 5,000 liters. How many liters were started and completed during the period..
Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Rainey uses FIFO.
Prepare a budget showing the quantity of switches to be purchased each month for January, February, and March and in total for the quarter.
Journalize the following selected transactions completed during the current fiscal year:
A U.S. firm has a Canadian subsidiary that remits some of its earnings to the parent on an annual basis. The firm has no other foreign business. The firm could best reduce its exposure to exchange rate risk by issuing bonds denominated in:
collections of cash from the sale of land would be reported in the following section of the statement of cash flowsa.
Kohler Corporation reports the following components of stockholders equity on December 31, 2013: Common stock $ 10 par value, 100,000 shares authorized,
explain the four characteristics that useful management information depends on? be sure to use an example showing how
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd