Reference no: EM132386246
Question
Donnell Transport assembles prestige mobile homes. Manufacturing overhead is allocated at a rate of $3 per machine hours. The following information is available:
Raw materials 1/1/18 $ 15 Materials & supplies purchased $175
Work in process 1/1/18 5 Direct labor 100
Finished goods 1/1/18 10 President's salary 36
Direct materials used 145 Factory supplies used 10
Depreciation on plant 19 Indirect factory labor used 30
Utilities on the factory 13 Utilities on showroom floor 35
Sales $450 Finished goods 12/31/18 8
Raw materials 12/31/18 jQuery22401693412320106844_1570592161956? Work in process 12/31/18 17
Salesperson salary 25 Property taxes, administration bldg 5
Manufacturing overhead allocated, 21 actual machine hours ??
REQUIRED:
Prepare the journal entries for the above information (15 journal entries).
Show the journal entry to close the over-or-under applied overhead to cost of goods control.
What is the cost of goods manufactured statement in good form.
What is the cost of goods sold statement in good form.
What is the income statement in good form.
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