newconnect.mheducation.com Chapter Review 18-19 (Extra Credit) ared Help Save &
ID: 2536166 • Letter: N
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newconnect.mheducation.com Chapter Review 18-19 (Extra Credit) ared Help Save & Exit Submit Check my work 5 company's production activities during May 2017 follows. a. Purchased raw materials on credit, $260,000. b. Materials requisitions record use of the following materials for the month Part 1 of4 Job 136 Tab 137 Jab 13 ob 139 ob 140 Total direct materials Indireot naterials Total materials used 550,000 32,500 19.400 22, 800 ,000 131,700 20,500 152,200 points eBcok c. Paid $16,000 cash to a computer consultant to reprogram factory equipment. d. Time tickets record use of the following labor for the month. These wages were paid in cash. Print References Jab 136 eb 13 Job 130 Job 139 Job 140 Total direct labor Indirect labor 12,000 10,800 37,700 39,000 3,800 103,300 $129,800 e. Applied overhead to Jobs 136, 138, and 139. . Transferred Jobs 136, 138, and 139 to Finished Goods. g. Sold Jobs 136 and 138 on credit at a total price of $530,000. h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxe8 payable $68,500 38,000 12,000 36,000Explanation / Answer
1)JOB COST SHEET
2)Journal Entries
3)T-ACCOUNTS
Job No.136 Job No.137 Job No.138 Job No.139 Job No.140 Materials 50,000 32,500 19,400 22,800 7,000 Labor 12,000 10,800 37,700 39,000 3,800 Overhead(200% of Labor) 24,000 21,600 75,400 78,000 7,600 Total Cost 86,000 64,900 132,500 139,800 18,400Related Questions
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