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Jeans Co. manufactures a product requiring two processes, cutting and sewing. During August, partially completed units with a cost of 287,200 are transferred from cutting to sewing. The sewing department requisitions 58,200 of direct materials and incurs direct labor of 96,000. Overhead is applied to the sewing department at 100% of direct labor. Finally, units with a cost of 102,400 are completed and transferred from sewing to finished goods. Prepare journal entries dated August 31 to record these August activities of the sewing department:
1. Goods transferred from cutting to sewing.
2. Direct materials used.
3. Direct labor used.
4. Overhead applied.
5. Goods transferred from sewing to finished goods.
On October 29, 2013, Miss Joan Seely (SSN 123-45-6789) sells her principal residence for $150,000 cash. she purchased the residence on May 12, 2004, for $85,000. She spent $12,000 for captital improvements in 2004. To help sell the house, she pays $3..
What is the amount of May 2005 support department costs allocated to the School of Education?
Write a statement that describes your conclusion(s) concerning rends in Home Depot's profitability during the period covered in your analysis in part a above2009
question rod corporation purchased 100 ownership of stafford corporation on january 1 20x4 for 65000 which was 10000
The Sunny Valley Wheat Cooperative is considering the construction of a new silo
Flip Company at the end of the fiscal 2014 year has the following information: Credit Sales, $2,500,000 Sales Returns & Allowances $25,000 Accounts Receivable $200,000 and Allowance for Doubtful Accounts with a debit o $1,500. Prepare the general jou..
Benns adopts the equity method for its 100 percent investment in Water. At the end of six years, Benns reports an investment in Waters of $920,000. What figures constitute this balance?
Identify the type of lease involved for the lessee and the lessor, and give reasons for your classifications and prepare all the journal entries for both the lessee and the lessor for 2007 and 2008.
On January 1, 2013, Scutaro Company issued 10-year, $200,000 face value, 6% bonds at par (payable annually on January Each $1,000 bond is convertible into 30 shares of Garner $2 par value common stock. Prepare the journal entry Scutaro would have mad..
journalize the transactionsnbsp from the given information.journalize the following merchandising transactions for csi
On January 1, 2015, Carter Sales issued $15,000 in bonds for $15,800. They were 8-year bonds with a stated rate of 9%, and pay semi annual interest. Carter Sales uses the straight-line method to amortize the bond premium. On June 30, 2015, when Carte..
Berkeley Bag manufactures high end book bags. One product line is a shoulder bag designed for trade fairs and conferences that the company "seeds" with products specified by the customer. The equivalent units of work completed and transferred out in ..
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