Blossom Company purchases $50,300 of direct raw materials and it incurs $65,400 of direct factory labor costs. Supporting records show that (a) the Assembly Department used $25,800 of direct raw materials and $38,000 of direct factory labor, and (b) the Finishing Department used the remainder. Record the assignment of the costs to the processing departments using the following format. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Direct materials used Assign direct factory labor Raw Materials Inventory $ Manufacturing Costs Factory Labor Manufacturing Overhead $ Assembly Work in Process Finishing

Blossom Company purchases $50,300 of direct raw materials and it incurs $65,400 of direct factory labor costs. Supporting records show that (a) the Assembly Department used $25,800 of direct raw materials and $38,000 of direct factory labor, and (b) the Finishing Department used the remainder. Record the assignment of the costs to the processing departments using the following format. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Direct materials used Assign direct factory labor Raw Materials Inventory $ Manufacturing Costs Factory Labor Manufacturing Overhead $ Assembly Work in Process Finishing

Name: Blossom Company purchases $50,300 of direct raw materials and it incu
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Description: Blossom Company purchases $50,300 of direct raw materials and it incurs $65,400 of direct factory labor costs. Supporting records show that (a) the Assembly Department used $25,800 of direct raw materials and $38,000 ofdirect factory labor, and (b)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Coop's Stoops estimated its annual overhead to be $72,000 and based its predetermined overhead rate on 24,000 direct labor hours. At the end of the year, actual overhead was $77,190 and the total direct labor hours were 23,830. What is the entry to dispose of the overapplied or underapplied overhead? If an amount box does not require an entry, leave it blank. Cost of Goods Sold ✓✓ Manufacturing Overhead X ✓ ✓ X
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The Darwin Company reports the following information that occurred during the current period: Sales commissions expense $15,600 Administrative office supplies 7,300 Depreciation on factory equipment 4,700 Indirect factory labor 5,900 Direct labor 10,500 Factory rent 4,200 Factory utilities 1,200 Sales 76,500 Administrative Office salaries expense 8,900 Indirect materials used 1,200 Manufacturing Overhead applied 17,200 Using the information provided above for Darwin Company, calculate the total costs that will be expensed when incurred on the income statement for the period:
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Sunland Corporation incurred the following transactions. Purchased raw materials on account $43,550. Raw Materials of $33,840 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,420 was classified as indirect materials. Factory labor costs incurred were $56,320. Time tickets indicated that $50,760 was direct labor and $5,560 was indirect labor. Manufacturing overhead costs incurred on account were $75,670. Depreciation on the company's office building was $7,600. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 1. 2. 3. 4. 5. 6. 8. 9. Goods costing $82,720 were completed and transferred to finished goods. Finished goods costing $70,500 to manufacture were sold on account for $96,820. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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how can I resolve the problem below? Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $ 211,000 Purchases of raw materials $ 268,000 Direct labor ? Administrative expenses $ 157,000 Manufacturing overhead applied to work in process $ 370,000 Actual manufacturing overhead cost $ 359,000 Inventory balances at the beginning and end of the year were as follows: Beginning Ending Raw materials $ 54,000 $ 34,000 Work in process ? $ 28,000 Finished goods $ 36,000 ? The total manufacturing costs added to production for the year were $685,000; the cost of goods available for sale totaled $720,000; the unadjusted cost of goods sold totaled $667,000; and the net operating income was $38,000. The company’s underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods…