Prepare a journals entries by using partial methods

Assignment Help Accounting Basics
Reference no: EM133150241

Question - Johnstown manufacturing company produces custom made, dyed sweat shirt for distribution on college campuses. The following standard have been established:

Direct Labor : 1/2 hours @ 6 per hour

Factory Overhead : 1/2 hour @ $10 per hour

The monthly production budget is based on normal plant operation of 1600 hour, with fixed factory overhead of $11200. The following data concerned with transaction during January 2018:

Direct labor payroll 1550 hour at $5.9, Actual factory overhead $16100, Actual production volume 3483 unit, Total Allocated Rate $10, Fixed Allocated Rate $7. Prepare a journals entries by using partial methods.

Reference no: EM133150241

Questions Cloud

What will happen to the firm current ratio : Question - The King Carpet Company has $3,080,000 in cash and a total of $12,040,000 in current assets. What will happen to the firm current ratio
What annual interest rate should sara charge : If the chance of a default in the coming year is about 15%. What annual interest rate should Sara charge for lending to REIT MMFPE to be adequately compensated
Analyse the interaction and impact of bio-ecological factors : Analyse the interaction and impact of bio-ecological factors on the health, wellbeing and development of neonates, infants, children and adolescents
What is the current value of the share : The company last paid a dividend of $0.55 on its ordinary shares. If the required rate of return is 7%, what is the current value of the share
Prepare a journals entries by using partial methods : Actual production volume 3483 unit, Total Allocated Rate $10, Fixed Allocated Rate $7. Prepare a journals entries by using partial methods
What is the effective annual rate of interest paid : Alternatively, the policy pays ?$617.32 at the beginning of each year for nine years. What is the effective annual rate of interest paid
What you determine about consumer demand for your product : The cross-price elasticity of demand between your good and a related good is 2.0. What can you determine about consumer demand for your product
Record the purchase of the assets on the books of cullumber : The assets were on the books of Kingswood for the following amounts: Land: $36,000, Record the purchase of the assets on the books of Cullumber
Prepare audrey statement of cash flows for the fiscal year : Prepare Audrey's Statement of Cash Flows for the fiscal year ended September 30, 2001 assuming the call took place

Reviews

Write a Review

Accounting Basics Questions & Answers

  Organizational architecture and corporate culture

Discuss how organizational architecture and corporate culture are related. Use an example of a real-life firm and discuss how its corporate culture blends with its organizational architecture.

  What amount will forest record as depreciation expense

Forest uses a straight-line depreciation method and assumes no salvage value. What amount will Forest record as depreciation expense each year

  All assets associated with the current years installment

residents of green acres a gated community located in the city of foothills voted to form a local improvement district

  What is the yield to maturity at a current market price

Interest is paid annually, and the bonds have a $1,000 par value and a coupon rate of 9%. What is the yield to maturity at a current market price

  Prepare a general ledger using given details

On January 1, 2017, Frostburg Company purchased for $68,500, equipment having a service life of six years and an estimated residual value of $4,000.

  What is the impact on the founders and round one investors

1. what is the impact on the founders and round one investors final ownership assuming the second round is funded by outsiders?

  What the pre-acquisition entry on acquisition date is

What the pre-acquisition entry on acquisition date is? All of the identifiable net assets were recorded at their fair value in the books of Burning Star Limited

  How much will the total bill

The phone bill for a corporation consists of both fixed and vvariable xosts. If the company uses 380 minutes in May, how much will the total bill be

  Compute the times interest earned and working capital

Suppose McDonald's 2022 financial statements contain the following selected data (in millions). Compute the Times interest earned and Working capital

  Calculate the total variable cost per unit for each firm

Calculate the total variable cost per unit for each firm in the trade association. Compute the percent of total for the material, labor, and variable overhead.

  Prepare a balance sheet for the current year ended March

The common stock was $119,900 and the retained earnings were $55,600 at April 1, Prepare a balance sheet for the current year ended March

  Viognier and pinot noir his winemaster kyle ward has

peter catalanos verde vineyards in oakville california produces three varieties of wine merlot viognier and pinot noir.

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