Give the journal entry to charge standard

Assignment Help Accounting Basics
Reference no: EM13151915

Give the journal entry to charge standard overhead costs to work in process and record overhead variances for the month given the following information:
Actual overhead $21,580 Standard overhead $20,000
Volume variance $2,080 U Spending variance $150 U

Reference no: EM13151915

Questions Cloud

How many grams of methane must be combusted : How many grams of methane must be combusted to heat 1.15 of water from 26.0 to 87.0, assuming as a product and 100% efficiency in heat transfer?
Example of expense in respect of decedent : An example of an expense in respect of a decedent is the state income taxes attributable to the taxpayer's last paycheck, uncollected at death.
What level of output should you produce : What level of output should you produce in the short run?b. What price should you charge in the short run?
Explain linear fit for independent variable observed : The independent variable observed, and y, the independent variable predicted) and are assumed to be normally distributed with mean = 0 and 2 variance how good is the linear fit?
Give the journal entry to charge standard : Give the journal entry to charge standard overhead costs to work in process and record overhead variances for the month given the following information: Actual overhead $21,580 Standard overhead $20,000,Volume variance $2,080 U Spending variance $150..
Calculate the overhead allocation rate : Calculate the overhead allocation rate. Compute the amount of under- or overallocated overhead. Calculate the ending balances in work in process, finished goods and cost of goods sold if under overallocated overhead is:
Interest in financial information about company : Boeing Company is the largest manufacture of commercial aircraft in the United States and is a major employer in Seattle, Washington. Explain why each of the following individuals or organizations would be interested in financial information about..
What is the optimal price of the textbook : What is the optimal price of the textbook from the author's point of view and by how much would the demand for the textbook change if advertising were increased by 2%?
How many molecules of hcl will we form : If we react 116 molecules of TiCl4 with water according to the equation  TiCl4 + 2 H2O -> TiO2 + 4 HCl how many molecules of HCl will we form?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Sales and actual warranty expenditures

Based on industry experience, warranty costs are estimated at 2% of sales in the year of sale, 4% in the year after sale, and 6% in the second year after sale. Sales and actual warranty expenditures for the first three-year period were as follows:

  Prepare the necessary entries to record intangibles

Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjusting entries as of December 31, 2011, recording any necessary amortization and reflecting all balances accurately as of that date.

  Arantxa corporation stock transactions

Arantxa Corporation has outstanding 20,000 shares of $5 par value common stock. Prepare Arantxa's journal entries to record these transaction using the cost method.

  Weighted average rate for the year

Darron Co. was formed on January 1, 2011 as a wholly owned foreign subsidiary of a U.S. corporation. Darron's functional currency was the stickle (§). The following transactions and events occurred during 2011:

  Basics of benefit of budgeting

Which of the following is not a benefit of budgeting? A) It ensures that accounting records comply with generally accepted accounting principles. B) It provides benchmarks for evaluating subsequent performance.

  Actual revenues reported in the income statement

Assume you are reviewing a company's annual report. In addition to actual revenues reported in the income statement, what other information disclosed would give you help in estimating this company's future revenues?

  Sole proprietorship by transferring inventory

Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values an..

  Depreciation on the income statement

Last year Attic charged $3,496,000 Depreciation on the Income Statement . If early this year Attic sold all its depreicable assets for their book value, the effect on financial statements would be (all other items remaining equal):

  Which audit procedure is effective in testing credit sale

Which audit procedure is most effective in testing credit sales for overstatement?

  Make the journal entry

Brennan Steel Corporation as lessee signed a lease agreement for equipment for five years, starting December 31, 2007. yearly rental payments of $32,000 are to be made at the beginning of each lease year.

  What is the aftertax cash flow from this sale

Hunter's Paradise purchased $568,000 of equipment 4 years ago. The equipment is 7-year MACRS property. The firm is selling this equipment today for $199,500.

  Determining company net working capital

The company had cash and marketable securities worth $1,235,455, accounts payables worth $4,159,357, inventory of $7,121,599, accounts receivables of $3,488,121, notes payable worth $1,151,663, and other current assets of $121,455. What is the com..

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd