Reference no: EM132735556
Question - Entries and Schedules for Unfinished Jobs and Completed Jobs
Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations:
a. Materials purchased on account, $3,340.
b. Materials requisitioned and factory labor used:
Job No. Materials Factory Labor
101 $1,840 $1,720
102 2,240 2,320
103 1,490 1,140
104 5,040 4,270
105 3,200 3,250
106 2,340 2,060
For general factory use 630 2,550
c. Factory overhead costs incurred on account, $3,510.
d. Depreciation of machinery and equipment, $1,220.
e. The factory overhead rate is $60 per machine hour. Machine hours used:
Job No. Machine Hours
101 18
102 18
103 26
104 81
105 20
106 35
Total 198
f. Jobs completed: 101, 102, 103, and 105.
g. Jobs were shipped and customers were billed as follows: Job 101, $5,570; Job 102, $6,770; Job 105, $12,150.
Required -
1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.
2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert memo account balances as of the end of the month.
|
Describe the leadership style
: Describe the leadership style or styles (transformational, transactional, visionary, servant, etc.) communicated by the manager in your current organization
|
|
Prepare the adjusting entry to record bonds at fair value
: Prepare the adjusting entry to record the bonds at fair value at December 31, 2020. The Fair Value Adjustment account has a debit balance of $1,000
|
|
Merton strain theory or becker labeling theory
: While the pressure to conform is intense, people continue to deviate. Using either Merton's Strain Theory or Becker's Labeling Theory,
|
|
Coach and player relationship
: Do you think a high context, high power distance relationship or a low context, low power distance relationship is appropriate between a coach and athletes?
|
|
Post appropriate entries to T accounts for Work in Process
: Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes
|
|
Compare the provisions in treaty and the act
: Compare and contrast the provisions in the Treaty and the Act. What is the same? And what is different?
|
|
Determine the creditworthiness of the supplier
: Which financial statements would you find most helpful to determine the creditworthiness of the supplier?
|
|
Corporate social responsibility
: It is important to understand the philosophy of the business and its culture and the aim is to determine what is the purpose of organization.
|
|
Prepare Hillsburg general journal entry for cash purchase
: Marvel has customer contracts valued at $20,000. Prepare Hillsburg's general journal entry for the cash purchase of Marvel's net assets
|