1 Exercise 8 On August 1st, Custom Car Co\'s work in process inventory was S4150

Question

1 Exercise 8 On August 1st, Custom Car Co's work in process inventory was S4150, its raw materials inventory 2 was $1000, manufacturing overhead had a $300 debit balance. Work in Process Subsidiary Data 81 Direct MatcrialsDirect Labor ob Mercedes $800 $250 8 Murcielago $500 $375 11 A. Journalize the following transactions: 12 8/5 88 8/11 8/15 8/30 Raw materials of S1800 are purchased on account from Wholesaler Co. S400 is paid to repair factory equipment (ck#522). Factory rent of S600 is paid (ck #523). Depreciation on factory equipment totals $800 for the month. Property taxes for the factory total $200. 15 They're due next month. 18 19 Date Account Dr. Cr. -Aug Raw materials inventory 1,800 1,800 Purchase RM-Wholesaler) 23 24 Manu Cash 400 Repairs -CK #522) 27 AugManufacturing overhead Cash Aug Manufacturing overhead Accumulated depreciation - equip ion factory equip) 4 35 30-Aug Manufacturing overhead Accounts payable 37 200 Property taxes) 0 B. Record journal entries given the following information for August. 2-5 6-7 10 + sc F3 F4 FS F6

Explanation / Answer

**Actual overhead = 400+600+800+200+100+200=2300

applied overhead= 2500

overhead overapplied= 2300-2500 = -200

mercedes corvette murcielago Land rover Beginning WIP 1250 1725 1175 0 Direct material 400 300 1000 700 Direct labor 300 500 800 400 overhead 375   [300*125%] 625   [500*125%] 1000 500 total 2325 3150 3975 1600

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.