During January, time tickets show that the factory labor of $7,000 was used as follows: Job 1 $2,320, Job 2 $1,780, Job 3 $1,650, and general factory use $1,250.Prepare a summary journal entry to record factory labor used.

Q: Time tickets indicated 9,000 labor hours in the production of Job .115, out of which 6,000 were…

A: Overhead means the cost incurred indirectly in production of goods . For examples , supervisor…

Q: Cavy Company estimates that the factory overhead for the following year will be $768,900. The…

A: Predetermined overhead rate = Total estimated factory overhead / Total estimated Machine hours…

Q: Ola Ltd, which uses a job costing system, had two jobs in process at the start of the year: Job L1…

A: Overhead costs is the cost involved in the production process of the company that is not traceable…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Pre-determined overhead rate is used to apply manufacturing overhead to work-in-progress inventory.

Q: Cavy Company estimates that total factory overhead costs will be $747,937 for the year. Direct labor…

A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…

Q: The estimated total factory overhead cost and total machine hours for Department 40 for the current…

A:

Q: The total factory overhead applied during September is:

A: Predetermined overhead Rate = Estimated Factory Overhead/Estimated Direct Labor hours Total Factory…

Q: On January 1, PBDKCT113 Corp. estimated its total overhead for the upcoming year to be $300,000 and…

A: Overhead allocation is the division of indirect costs among manufactured goods. It is required by…

Q: A company has the following transactions during the week. • Purchase of $1,788 raw materials…

A: Cost is the monetary value of expenditures for different goods.

Q: Prepare journal entries to record the production activities. Paid factory payroll of $95,000.

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Time tickets indicated 3,000 labor hours in the production of Job .115, out of which 2,800 were…

A: Overhead means the cost incurred indirectly in production of goods . For examples , supervisor…

Q: On November 2, Newsprint Manufacturing purchases 5 rolls of paper on account at $125 per roll for…

A: The costs incurred during the period are debited to the WIP Account till the goods are finished.…

Q: On January 1, PBDKCT113 Corp. estimated its total overhead for the upcoming year to be $300,000 and…

A: Predetermined overhead rate =Estimated total overhead / Estimated machine hours = $300000/15000…

Q: Ehrling Brothers Company makes jobs to customer order. During the month of July, the following…

A: 1. Prepare journal entries: 1. 2. 3. 4. 5. Working note:

Q: Time tickets indicated 900 labor hours in the production of Job .115, out of which 600 were direct…

A: Journal entries are passed following the golden rules of accounting Debit all assets and expenses…

Q: Kaitlyn, Inc. is a manufacturer who uses a job order costing system. The data below summarizes the…

A: Factory Overhead per Direct labor hour=Total Factory OverheadTotal direct labor hours

Q: The information below relates to the factory overhead incurred by Burlywood, Inc., in the month of…

A: Rate for Indirect labor cost = Indirect labor cost incurred in september / Labor hours incurred in…

Q: During May, Bergan Company accumulated 2,500 hours of direct labor costs on Job 200 and 3,000 hours…

A: The journal entry is prepared as follows:

Q: On November 2, Newsprint Manufacturing purchases 5 rolls of paper on account at $125 per roll for…

A: The cost incurred to a Job is debited to Work in Process till the Job is completed. All the costs…

Q: Morris Corp applies manufacturing overhead cost to Jobs (to the work in process account) at a rate…

A: Applied Overhead = Actual DLHs x Predetermined Overhead rate Applied Overhead = 5,000 DLHs x $50 per…

Q: The factory has one production department and uses the direct labor hour method to apply factory…

A: Direct materials: It is the basic input required to manufacture the finished products. The…

Q: (The following information opplies to the questions displayed below] Information on Kwon…

A: The cost of goods manufactured includes direct materials, direct labor and applied overhead cost.

Q: Carrothers Company estimates that total factory overhead costs will be $90,000 for the year. Direct…

A: Computation of predetermined factory overhead rate = Total factory overheads / Number of direct…

Q: During the month of September, a company had the following transactions:  Factory rent OMR 2,000…

A: A cost sheet is a method of allocating total cost into different categories such as direct material…

Q: During January, Bonita Company's manufacturing accounts contained the following manufacturing costs:…

A: Factory labour cost is the cost of labour that is incurred in the factory or for the purpose of…

Q: The following information relates to the manufacturing operations of O’Shaughnessy Mfe c during the…

A: Journal: Recording of a business transactions in a chronological order.

Q: During the current month, a company that uses job order costing purchases $50,000 in raw materials…

A:

Q: Kaitlyn, Inc. is a manufacturer who uses a job order costing system. The data below summarizes the…

A: Sales revenue = units sold * selling price per unit

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Predetermined Overhead Rate = Estimated factory overhead costs / Estimated direct labor hours =…

Q: Time tickets indicated 8,000 labor hours in the production of Job .115, out of which 1,000 were…

A: Direct Labor Hours = 7,000 Indirect Labor Hours = 1,000 Factory Wages = 7000 x $ 10 = $ 70,000…

Q: Penn Company uses a job order cost accounting system. In the last month, the system accumulated…

A: Introduction: Payroll is the compensation that a company must pay to its workers for a specified…

Q: Ola Ltd, which uses a job costing system, had two jobs in process at the start of the year: Job L1…

A: The following computations are done for Ola Limited.

Q: A manufacturing company applies factory overhead based on direct labor hours. At the     beginning…

A: Underapplied and Overapplied overhead: Underapplied overhead refers to a situation that arises when…

Q: Date Account Titles and Explanation Debit Credit Jan. 31

A: A journal entry is a type of accounting entry that is used to record a business transaction in a…

Q: The chief cost accountant for Voltaire Beverage Co. estimated that total factory overhead cost for…

A: Given: Estimated Total factory overhead cost for the Blending Department = $130,000 Estimated Total…

Q: Kaitlyn, Inc. is a manufacturer who uses a job order costing system. The data below summarizes the…

A: Introduction:- The items and supplies that a firm holds for the ultimate objective of resale,…

Q: Time tickets indicated 3,000 labor hours in the production of Job .115, out of which 2,800 were…

A: Direct Labor Cost = 2,800 x $10 = $ 28,000 Indirect costs doesn’t come under Work in Progress…

Q: Cavy Company estimates that the factory overhead for the following year will be $1,066,000. The…

A: Predetermined Overhead rate = Estimated overhead / Estimated machine hours Predetermined Overhead…

Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…

A: Solution....     Estimated manufacturing overhead costs  = $328,000. Estimated direct labor hours  =…

Q: During January, its first month of operations, Bridgeport Company accumulated the following…

A: Manufacturing costs are costs that are incurred for manufacturing or production of goods.

Q: Information on Kwon Manufacturing’s activities for its first month of operations follows:…

A: The overhead is applied to production on the basis of predetermined overhead rate.

Q: During January, Ark employees worked on Job #479. At the end of the month, $714 of overhead had been…

A: Job costing is a method of costing in which the total costs incurred relating to an an individual…

Q: During January, its first month of operations, Dieker Company accumulated the following…

A: Prepare the journal entries:

Q: At the end of April, Cavy Company had completed Jobs 765 and 766. The individual job cost sheets…

A: Manufacturing overhead = No. of machine hours x rate per hour Manufacturing overhead (Job 765) = 27…

Q: In January, Reyes Tool & Die Company requisitions raw materials for production as follows: Job 1…

A: Given the following information: Job 1 Raw materials: $970 Job 2 Raw materials: $1,120 Job 3 Raw…

Q: Bergan Company estimates that total factory overhead costs will be $620,000 for the year. Direct…

A: 1.

Q: The chief cost accountant for Kenner Beverage Co. estimated that total factory overhead cost for the…

A: Note: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…

Q: Cavy Company estimates that the factory overhead for the following year will be $1,824,500. The…

A: Solution: Overhead application rate =  factory overhead / machine hours  = 1824500 / 44500 = $41 per…

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.