Cullumber Manufacturing Company uses a job order cost system and keeps perpetual inventory records. June 1 8 15 25 25 25 28 30 Purchased raw materials for $16,800 on account. Raw materials requisitioned by production: Direct materials Indirect materials Direct Labor Paid factory utilities, $1.764 and repairs for factory equipment. $6,720. Incurred $128,000 of factory labor. Time tickets indicated the following: Indirect Labor (7,000 hrs x $14 per hr) $6.720 (3,000 hrs $10 per hr) 840 $98,000 30,000 $128,000 Applied manufacturing overhead to production based on a predetermined overhead rate of $9 per direct labor hour worked. Goods costing $18,300 were completed in the factory and were transferred to finished goods inventory. Goods costing $15,300 were sold for $20,300 on account.
Cullumber Manufacturing Company uses a job order cost system and keeps perpetual inventory records. June 1 8 15 25 25 25 28 30 Purchased raw materials for $16,800 on account. Raw materials requisitioned by production: Direct materials Indirect materials Direct Labor Paid factory utilities, $1.764 and repairs for factory equipment. $6,720. Incurred $128,000 of factory labor. Time tickets indicated the following: Indirect Labor (7,000 hrs x $14 per hr) $6.720 (3,000 hrs $10 per hr) 840 $98,000 30,000 $128,000 Applied manufacturing overhead to production based on a predetermined overhead rate of $9 per direct labor hour worked. Goods costing $18,300 were completed in the factory and were transferred to finished goods inventory. Goods costing $15,300 were sold for $20,300 on account.
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 12PA: The following data summarize the operations during the year. Prepare a journal entry for each...
Related questions
Question
rr
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,