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Problem 1: Mayer Company uses a job order cost system and applies overhead based on estimated rates for work in their factory. The overhead application rate is based on total estimated overhead costs of $400,000 and direct labor hours of 50,000. For job 836, direct labor hours were 700 for the month of December. What is the appropriate journal entry for job 836 for the month of December?
a) Finished Goods Inventory should be debited for $5,600.
b) none of these
c) Work in Process should be credited for $3,200.
d) Factory Overhead should be debited for $4,200.
e) Factory Overhead should be credited for $5,600.
Complete the table for the year ended December 31, 2016. The company depreciates all assets using the half-year convention.
Total revenue from the parking lot was Php 125,000 and related cost incurred was Php 10,000. At what amount should the manufacturing plant be initially recorded
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Bard Manufacturing uses a job order cost accounting system
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Design substantive procedures for detecting inventory irregularities. Design substantive procedures for detecting irregularities in fixed assets.
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