Make a transaction journal for calculating costs

Assignment Help Accounting Basics
Reference no: EM132982479

Problem - The following is a note from CV Melati:

CV Melati received orders of 100 units from one customer. The order has a number order O120. The following are transactions that occur at the company.

1. Purchase materials on credit worth IDR 50,000,000.

2. Use of direct materials worth IDR 40,000,000.

3. Employing 25 workers at a cost of IDR 1,000 per hour takes 10 days with a day working 8 hours.

4. Factory overhead costs of Rp. 40,000,000.

5. The order is submitted to the buyer with a sales invoice for 30% of the total charges on credit with invoice 2/10, n / 30.

6. The customer pays within 12 hours after delivery.

Required - Make a transaction journal for calculating costs based on orders / job order costing?

Reference no: EM132982479

Questions Cloud

Determine the merchandise lost by fire : Determine the merchandise lost by fire, assuming a beginning inventory of $60,000 and a gross profit rate of 40% on net sales
What will be the portfolio expected return : If the risk-free rate is 8 percent and the expected return on the market portfolio is 14 percent, what will be the portfolio's expected return?
Prepare the adjusting entries for the items : Advertising supplies on hand at October 31 total $500. And the total advertising supplies at the begging of October is $2500. Prepare the adjusting entries
How many total information slips would the employee receive : How many total information slips would the employee receive? If an employee in Québec worked for an organization under two different Revenu Québec account.
Make a transaction journal for calculating costs : Employing 25 workers at a cost of IDR 1,000 per hour takes 10 days with a day working 8 hours. Make a transaction journal for calculating costs
What prepaid insurance account will have a debit balance of : On January? 1, 2019? (after December 31? adjustments), Prepaid Insurance account will have a debit balance of? Murphy, Inc. prepaid $8,400 on October? 1, 2018.
How much is the interest income in December : The company classified it as Debt Investment at FVTOCI. How much is the interest income in December 31, 2023
Which statements correctly states the effect of the error : Which statements correctly states the effect of the error on the trial? balance? A journal entry for a $260 payment to purchase office supplies was erroneously.
What is the coupon amount : The bond is callable at the end of the first year only, for a price of $1,117.90. What is the coupon amount, if the bond sells at par

Reviews

Write a Review

Accounting Basics Questions & Answers

  How do the sites match small lenders and borrowers

Find out more about peer-to-peer (P2P) lending. How do these sites match small lenders and borrowers? How are the sites similar, and how do they differ?

  Selected information from doodle companys for 2010 is below

selected information from doodle companys for 2010 is below in millions inventory decreased 6.0 accounts payable

  What is the present value of this stock

What is the present value of this stock at a 2.5% discount rate? What are the partial derivatives of stock price with respect to growth rate and discount rate

  Prepare functional income statement using absorption costing

Glendale Company sells its product at a unit price of $12.00. Prepare a functional income statement using absorption costing

  Discuss challenges to migrate to new automated system

How advances in technology, such as robotic processing automation (RPA), blockchain, artificial intelligence (AI), or data analytics may be used in conjunction

  Calculate total revenue

The wake trading company discloses the following information for the month of October 2018. Calculate total revenue

  Construct an amortization schedule for this bond issue

Construct an amortization schedule, for this bond issue, assuming that Seward Company uses amortized cost measurement

  Normal production or domestic sales prices

The acceptance of the offer will not affect normal production or domestic sales prices. The following data is available:

  Journalize the issuance of the bonds on june

On June 30, Daughtry Limited issues 6%, 20-year bonds payable with a face value of $110,000. Journalize the issuance of the bonds on June

  What is congress views about stock buy back

What is good about stock buy back, what is bad about it and what is congress concern? What is congress views about stock buy back

  A company budgeted unit sales of 204000 units for january

a company budgeted unit sales of 204000 units for january 2012 and 240000 for february 2012. the company has a policy

  Find the cost flow assumption used by Milford

Milford then sold 400 units at a selling price of $10 each, resulting in a gross profit of $1,600. Find the cost flow assumption used by Milford

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