Kirkaid company recorded the following transactions

Assignment Help Cost Accounting
Reference no: EM13508643

Kirkaid Company recorded the following transactions for the just completed month.

a. $86,000 in raw materials were purchased on account.
b. $84,000 in raw materials were requisitioned for use in production. Of this amount, $72,000 was for direct materials and the remainder was for indirect materials.
c. Total labor wages of $108,000 were incurred. Of this amount, $105,000 was for direct labor and the remainder was for indirect labor.
d. Additional manufacturing overhead costs of $197,000 were incurred.

Required:
Record the above transactions in journal entries.

 

Reference no: EM13508643

Questions Cloud

What is the purpose of notes to financial statements : What is the purpose of notes to financial statements? If a firm does a good job presenting its financial statements, why are notes necessary?
Purpose of qualitative characteristics of financial reports : What is the purpose of the qualitative characteristics of financial reports? What are the primary qualitative characteristics as defined by the FASB?
Find the magnetic force on the bolt : An iron bolt of mass 75.0 g hangs from a string 32.4 cm long. The top end of the string is fixed. Find the magnetic force on the bolt
What is the potential at the center of the triangle : Charges 6.8 ?C, 6.1 ?C, and -1.5 ?C are brought from infinity to the respective vertices of an equilateral triangle with 11.0 cm sides. What is the potential at the center of the triangle
Kirkaid company recorded the following transactions : Kirkaid Company recorded the following transactions for the just completed month. Record the above transactions in journal entries.
Cash flows used for investing activities section in 2012 : What was the most significant item in the cash flows used for investing activities section in 2012 - Where is "deferred income taxes" reported in Intel's statement of cash flows
How much overhead was assigned to each job during year 1 : Mark Corporation estimates its manufacturing overhead to be $90,000 and its direct labor costs to be $200,000 for year 1.
Determine the amount of manufacturing overhead : Determine the amount of manufacturing overhead that would have been applied to units of product during the period.
What was intels pension expense for 2011 and 2012 : What kind of pension plan does Intel provide its employees - what was Intel's pension expense for 2011 and 2012?

Reviews

Write a Review

Cost Accounting Questions & Answers

  Historical cost or fair value accounting treatment

An interesting research paper on fair value accounting of PP&E under IFRS which allows either historical cost or fair value accounting treatment.

  Evaluate the economic order quantity for glass

Determine total annual cost of ordering and carrying the glass. Evaluate the Economic Order Quantity for glass.

  Statement of cash flows

As an operating tool, cash flow statement gives information about cash generated from operating activities and explanations for the difference between cash from operations and net profit.

  Calculate the requested amounts

Calculate the requested amounts showing your work below and entering your answers to the right.

  Exploratory company is a gas and oil exploration firm

exploratory company is a gas and oil exploration firm. during 2013 exploratory engaged in 86 different exploratory

  Machine would reduce cash operating costs

The machine would reduce cash operating costs by $114,000 per year. The machine could have no salvage value.

  In 2009 jed james began planting a vineyard the cost of the

in 2009 jed james began planting a vineyard. the cost of the land preparation labor rootstock and planting were

  Why does the allowance for bad debts have a debit balance

Early in the year we wrote off $65,000 of receivables. Nick, Ray, and I agreed we would lose another $30,000 from the open accounts as of December 31, 20X4. That's reflected in the listing of S&A costs. The allowance for bad debts was just a "squee..

  Consider the recent performance of the closed fund a

consider the recent performance of the closed fund a closed-end fund devoted to finding undervalued thinly traded

  Overall completion percentage for wip

Find what is the overall completion percentage for WIP as to direct materials at end of the period?

  Select a public university system and review the financial

select a public university system and review the financial statements and audit report for the system.write a three to

  Provide evidence that the system is operating correctly

Included in the Acceptance Testing will be verification of the system outputs, ie reports etc. What types of activities could Andrew include in the Acceptance Test to provide evidence that the system is operating correctly?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd