89000 in raw materials were requisitioned for use in

Assignment Help Accounting Basics

Reference no: EM13580952

ShawnXu Enterprises recorded the following transactions for the just completed January 2010:

a.$89,000 in raw materials were requisitioned for use in production. Of this amount, $78,000 was for direct materials and the remainder was for indirect materials.

b.Total labor wages of $132,000 were incurred and paid in cash. Of this amount, $112,000 was for direct labor and the remainder was for indirect labor.

c.Additional manufacturing overhead costs of $143,000 were incurred and paid.

d.Manufacturing overhead costs of $152,000 were applied to jobs using the company's predetermined overhead rate.

Required:

1.Please record transaction %u201Ca%u201D in journal entries. show work

2.Determine the total ACTUAL manufacturing overhead costs recorded for January?

3.Determine the amount of underapplied or overapplied overhead for January. Please indicate under or over-applied. Show your work.

4. Determine the total manufacturing costs that were added into Work In Process account for January? Show your work.

Reference no: EM13580952

Questions Cloud

If the company transferred 234000 of completed goods from : if the company transferred 234000 of completed goods from work in process to finished goods inventory during april what

On february 15 seacroft buys 6200 shares of kebo common at : on february 15 seacroft buys 6200 shares of kebo common at 28.71 per share plus a brokerage fee of 485. the stock is

If the raw materials purchased during april totaled 63000 : if the raw materials purchased during april totaled 63000 what was the cost of the raw materials used in production for

Sebring company reports depreciation expense of 49000 for : sebring company reports depreciation expense of 49000 for year 2. also equipment costing 168000 was sold for its book

89000 in raw materials were requisitioned for use in : shawnxu enterprises recorded the following transactions for the just completed january 2010a.89000 in raw materials

Analysis reveals that a company had a net decrease in cash : analysis reveals that a company had a net decrease in cash of 4500 for the current year. net cash provided by operating

Six months ago a company purchased an investment in stock : six months ago a company purchased an investment in stock for 72000. the investment is classified as available-for-sale

Company keeps funds in other countries assume that in 2010 : company keeps funds in other countries assume that in 2010 it held 290000 reals in brazil worth 220000 thousand dollars

Tax services revenue 50000 interest revenue 200 dividend : the following single-step income statement was prepared creative tax service income statement for the year ended

User Account

All Pages