Bard manufacturing uses a job order cost accounting system

Reference no: EM13569261

Bard Manufacturing uses a job order cost accounting system. During one month Bard purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Bard incurred a factory payroll of $150,000, paid in cash, of which $40,000 is classified as indirect labor. Bard uses a predetermined overhead application rate of 150% of direct labor cost. The journal entry to record payment of the factory payroll is:

a. Debit Goods in Process Inventory $150,000; credit Factory Payroll $150,000.
b. Debit Goods in Process Inventory $150,000; credit Cash $150,000.
c. Debit Factory Payroll $150,000; credit Cash $150,000.
d. Debit Goods in Process Inventory $110,000; debit Factory Overhead $40,000; credit Factory Payroll $150,000.
e. Debit Goods in Process Inventory $110,000; debit Factory Overhead $40,000; credit Cash $150,000.

Reference no: EM13569261

Questions Cloud

At the beginning of the year a companys current ratio is : at the beginning of the year a companys current ratio is 2.2. at the end of the year the company has a current ratio of

Determine spot interest rates for periods 1 2 and 3 and : assume that the futures price for delivery of gold at times 1 2 and 3 are 300 350 and 400. if the current spot price

Oscar is retiring from the jms partnership in january of : oscar is retiring from the jms partnership. in january of the current year he has a 120000 basis in his partnership

As a manager how would you justify the expensive technology : remember that your response needs to be between 200 and 250 words.q1. as a manager how would you justify the expensive

Bard manufacturing uses a job order cost accounting system : bard manufacturing uses a job order cost accounting system. during one month bard purchased 198000 of raw materials on

Make the general journal entries to a create the petty cash : louises dance studio created a 200 imprest petty cash fund. during the month the fund custodian authorized and signed

On thursday the following bond quotation appears in the : on thursday the following bond quotation appears in the newspaper. interpret each item that appears in the quote and

What is an intangible asset should all intangible assets : what is an intangible asset? should all intangible assets be subject to amortization? explain why or why not. why is

The following items could appear on a bank reconciliation a : the following items could appear on a bank reconciliation a outstanding checks b deposits in transit c nsf check d bank

User Account

All Pages