Vista company installed a standard cost system

Reference no: EM131132613

Vista Company installed a standard cost system on January 1. Selected transactions for the month of January are as follows.

1. Purchased 17,200 units of raw materials on account at a cost of $3.60 per unit. Standard cost was $3.30 per unit.

2. Issued 17,200 units of raw materials for jobs that required 16,730 standard units of raw materials.

3. Incurred 15,000 actual hours of direct labor at an actual rate of $4.80 per hour. The standard rate is $5.40 per hour. (Credit Factory Wages Payable.)

4. Performed 15,000 hours of direct labor on jobs when standard hours were 15,110. 5. Applied overhead to jobs at the rate of 100% of direct labor cost for standard hours allowed. Journalize the.

Reference no: EM131132613

Questions Cloud

Business applications case preparing and using pro forma : Nancy Pinedo and Justin Johnson recently graduated from the same university. After graduation they decided not to seek jobs at established organizations but, rather, to start their own small business hoping they could have more flexibility in thei..

What factors make a pop song released in the us : Disregarding her voice and the particular lyrical content, what factors make a pop song released in the U.S. sound familiar to your ears? What role does the listener's musical knowledge and experience play in making something new sound familiar

What is the linear momentum of the particle at some time t : What is the magnitude in kgm^2/s of the angular momentum at time t=2?

Effects outweigh the potential benefit of ridding the client : In your opinion, did the risks of permanent and potentially fatal side effects outweigh the potential benefit of ridding the client of torturous auditory hallucinations and delusions of persecution? How would you make the decision yourself if you ..

Vista company installed a standard cost system : 4. Performed 15,000 hours of direct labor on jobs when standard hours were 15,110. 5. Applied overhead to jobs at the rate of 100% of direct labor cost for standard hours allowed. Journalize the

How can i strengthen the given thesis : How can i strengthen this thesis:- " With the help of CSR, companies are able to create this change by upholding freedom, creating a platform for positive brand image, and in doing so also saving money. "

Company uses a flexible budget for manufacturing overhead : Accounting Problem Exercise 24-4 Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.10 Indirect materials 0.70 ..

What about problem-focused forms of coping : What are the advantages and disadvantages of relying on emotion-focused styles of coping? What about problem-focused forms of coping

The budget committee of suppar company collects : The budget committee of Suppar Company collects the following data for its San Miguel Store in preparing budgeted income statements for May and June 2017. Sales for May are expected to be $815,000. Sales in June and July are expected to be 5% high..

User Account

All Pages