User Account

All Pages

Journalize the January transactions

Assignment Help Accounting Basics
Reference no: EM132919193

Question - Vista Company installed a standard cost system on January 1. Selected transactions for the month of January are as follows.

1. Purchased 18,400 units of raw materials on account at a cost of $3.90 per unit. Standard cost was $3.80 per unit.

2. Issued 18,400 units of raw materials for jobs that required 18,100 standard units of raw materials.

3. Incurred 16,000 actual hours of direct labor at an actual rate of $4.10 per hour. The standard rate is $4.60 per hour. (Credit Factory Wages Payable.)

4. Performed 16,000 hours of direct labor on jobs when standard hours were 16,190.

5. Applied overhead to jobs at the rate of 100% of direct labor cost for standard hours allowed.

Required - Journalize the January transactions.

Reference no: EM132919193

Questions Cloud

Operational definition of multiculturalism : Compare and contrast the trends and issues related to normalization and deinstitutionalization. Provide an operational definition of multiculturalism.
Risks and benefits of having suppliers in china : Should the damage done to the environment by Apple suppliers be of concern to Apple management? What are the risks and benefits of having suppliers in China?
How managers make decisions : Define and explain with examples all three approaches on how managers make decisions. An effective decision maker spends much time determining the possible
Explain current economic climate : Can you forecast the future trend in ROE for Australian banks given the current economic climate? Give reasons to support your answer.
Journalize the January transactions : Purchased 18,400 units of raw materials on account at a cost of $3.90 per unit. Standard cost was $3.80 per unit. Journalize the January transactions
Public administration and business administration : List and describe the major differences between public administration and business administration?
American express ethical decision-making framework : What is the American express ethical decision-making framework? Explain in detail American express with a Utilitarian approach, individual approach, and justice
How much cash was paid to the employees : How much cash was paid to the employees? Sunshine beach Ltd started the accounting period with a liability for accrued wages of 50 000.
Public administration and business administration : List and describe the major differences between public administration and business administration?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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