pter 2 HW The Following Informatio × C ? ezta.mheducation.com/hm.tpx value 0.64

Question

pter 2 HW The Following Informatio × C ? ezta.mheducation.com/hm.tpx value 0.64 points Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order On March 1, OCFF had two jots in process with the tlow costs: in Job 33 Job 34 on 3/1 S 5,000 3,900 $ 8,900 Source documents revealed the following during March Materials Labor Time Requisitions Tickets Forms Status of Job at Month-End Job 33 $ 2.800 S 5200 Completed and sold Job 34 Job 35 3,700 4,500 1.0002500 3,500 Completed, but not sold 3,600 In process S 12,000 14.800 The company applies overhead to products at a rate of 50 percent of direct labor cost Required Prepare jounal entries to record the materiais requisitions, labor costs, and applied overmead (it no entry is required for a transactionievent, select "No Journal Entry Required" in he trs account field.) View transaction list D Type here to search

Explanation / Answer

Trans Accounts Title Dr Cr a Work In process Inventory $12,000 Raw Material Inventory $12,000 (being issuance of raw material recorded) b) Work In process Inventory $14,800 Wages Payable $14,800 (being direct labor cost incurred on production) c Work In process Inventory $7,400 Manufacturing overhead (14800*50%) $7,400 (being manufacturing overhead applied to production)

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

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