Reference no: EM136178
Create normal costing journal entries for each of the subsequent events. You will also need the subsequent information: Overhead was evaluated at $50,000 for the year and direct labor hours (used to apply overhead) were estimated at 5,000 hours per day.
A) Buy $100 of raw materials on account.
B) The foreman for job #85 requisitioned $50 of direct materials.
C) Paid $500 for rent. $300 was assigned to the factory and the balance was allocated to administrative offices.
D) Workers accumulated 400 hours of labor adding 50 hours over overtime. 300 of the 400 hours were traced to particular jobs. The wage rate is $20 per hour.
E) The accountant recognized $200 depreciation on the CEO's car.
F) Job #103 was done. At completion the job cost sheet showed $1,000 in direct materials and $8,000 in direct labor.
G) At the end of the accounting period, a total of $50960 if overhead had accumulated and direct labor amounting to $104,000 was recorded for the period. Overhead accounts are prorated among WIP, FG, and CGS according to the direct labor hours in every account. WIP had 200 DLH, FG had 1,000 DLH, and CGS had 4,000 DLH.
|
Balanced scorecard for the norwalk pharmaceutical division
: Prepare the balanced scorecard for the Norwalk Pharmaceutical Division of Chadwick and determine the process used to formulate the strategy of the Norwalk Pharmaceutical Division and the Balanced Scorecard.
|
|
Purpose a partial income statement
: Purpose a partial income statement beginning with Income before Income Tax Expense
|
|
What is crawford''s weighted average cost of capital
: What is Crawford's weighted average cost of capital. If Crawford's stock price were to increase such that it sold at 1.5 times book value causing the cost of equity to fall to 15 percent what would the firms cost of capital be (assuming the cost of..
|
|
Evaluate the breakeven point in number of oil changes
: Using the high low method, evaluate utility costs. In addition, evaluate the variable costs per unit and total fixed costs. and evaluate the breakeven point in number of oil changes and sales dollars.
|
|
Create normal costing journal entries
: Create normal costing journal entries for each of the subsequent events. You will also need the subsequent information: Overhead was evaluated at $50,000 for the year and direct labor hours
|
|
Explain dollar must sell the store on grove street
: Dollar Department Stores has just learned the chain of Wenthrope and Sons Custom Jewelers. Dollar has received a proposal from Harris Diamonds to purchase the Wenthrope store on Grove Street for $120,000. Must Dollar sell the store on Grove Street
|
|
Describe the step approach of non-controlling interest
: Purpose a report for Joy, describe the step approach to the computation of Non-Controlling Interest and the effects of the approach in the years after acquisition date
|
|
What will be reported on government-wide financial statement
: What will be reported on government-wide financial statements in connection with this gift and how does the answer to need (a) change if the government decides to depreciate this asset over a 10-year period using straight-line depreciation?
|
|
What is the evpi
: What is the EVPI. Find the EVSIs also efficiencies for Stanton and New World. If both firms charge $5,000 which firm should be hired
|