User Account

All Pages

Prepare journal entries for these transactions using a

Assignment Help Accounting Basics
Reference no: EM13585282

The following transactions were incurred by Dimasi Industries during January 2013:

  1. Issued $800,000 of direct material to production.
  2. Paid 40,000 hours of direct labor at $18 per hour.
  3. Accrued 15,500 hours of indirect labor cost at $15 per hour.
  4. Recorded $102,100 of depreciation on factory assets.
  5. Accrued $32,800 of supervisors' salaries.
  6. Issued $25,400 of indirect material to production.
  7. Completed goods costing $1,749,300 and transferred them to finished goods.

a. Prepare journal entries for these transactions using a single overhead account for both variable and fixed overhead. The Raw Material Inventory account contains only direct material; indirect material costs are recorded in Supplies Inventory.

b. If Work in Process Inventory had a beginning balance of $18,900 and an ending balance of $59,600, what amount of manufacturing overhead was included in Work in Process Inventory during January 2013?

Reference no: EM13585282

Questions Cloud

List and explain three major structural differences between : consider two imaginary cells. both are cube shaped the same dimension in all directions. the first cell has a side
Assume that you have decided to invest a portion of your : assume that you have decided to invest a portion of your money in the stock market. you ask your broker to recommend
Perry company had no short-term investments prior to year : perry company had no short-term investments prior to year 2011. it had the following transactions involving short-term
If i go into a pizza house and i have the choice of having : if i go into a pizza house and i have the choice of having one of 3 different types of dough with one of 7 different
Prepare journal entries for these transactions using a : the following transactions were incurred by dimasi industries during january 2013issued 800000 of direct material to
A metal sign for a car dealership is a thin uniform right : a metal sign for a car dealership is a thin uniform right triangle with base length b and height h. the sign has mass
Life scientists use ultracentrifuges to separate biological : life scientists use ultracentrifuges to separate biological components or to remove molecules from suspension. samples
A list of 50 subjects is entered into a computer file and : a list of 50 subjects is entered into a computer file and then sorted by last name. the subjects are assigned to five
Describe and discuss how weather affects pollution levels : 1. describe the following and explain with examples if needed a. coriolis effect and its implicationsb. ozone layer and

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare the sales revenues section of the income

Milton Company provides this information for the month of November, 2007: sales on credit $150,000; cash sales $50,000; sales discount $2,000; and sales returns and allowances $8,000. Prepare the sales revenues section of the income statement base..

  The first payment was 4000 and the second and third

on april 1 2014 cruz corp. purchased 50 of chapman inc.s 8 1000 bonds that mature in 15 years at a price that yielded a

  A positive or negative event

If you owned stock in a company and you heard the company was about to buy back its own stock (Treasury Stock), would you view this as a positive or negative event

  Veronica tanner the president of tanner enterprises is

veronica tanner the president of tanner enterprises is considering two investment opportuni- ties. because of limited

  Bosio incs perpetual preferred stock sells for 8750 per

bosio inc.s perpetual preferred stock sells for 87.50 per share and it pays an 6.50 annual dividend. if the company

  The company expects to sell about 10 of its merchandise for

the company expects to sell about 10 of its merchandise for cash. of sales on account 70 are expected to be collected

  Salaried employee was laid off hr didnt relay the message

salaried employee was laid off... hr didnt relay the message to corporate payroll office. for the next four week the ex

  Determining predetermined overhead-overhead applied

Snapper Corp. computes its predetermined overhead rate annually on the basis of direct-labor hours. At the beginning of the year it estimated that its total manufacturing overhead would be $240,000 and the total direct labor hours (dlh) would be 6..

  Calculate jims basis in his partnership interest at the end

the dairy partnership is owned equally to dan and jim. jims basis is 14000 at the beginning of the tax year. dans basis

  Gordon company sponsors a defined benefit pension plan the

gordon company sponsors a defined benefit pension plan. the following information related to the pension plan is

  Show support for the bond payable discount by preparing

On June 1, 2002, a company purchased on the open market $20,000 of a company's non-convertible (or convertible) bonds (2% of $1,000,000 bonds outstanding) at a price of "60" ($12,000 cash) plus accrued interest.

  Blueline tours inc operates tours throughout the united

blueline tours inc. operates tours throughout the united states. a study has indicated that some of the tours are not

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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