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1 year ago

Prepared journal, prepared t account, prepared trial ballance

Business

1 answer:

Juliette [100K]1 year ago

5 0

The journal entries are made as follows and t-accounts and Trial balance is made.

<h3 /><h3>What is Accounting?</h3>

Accounting is the calculation of debit and credit, this includes the finance calculations of a business. Accounting have five major accounts known as Capital, Income, expense, Liabilities and Assets.

A. DR Cash 14100

DR Furniture 5200

CR Capital 19300

B. DR Rent expense 1500

CR Cash 1500

C. DR Office Supplies 900

CR Accounts Payable 900

D. DR Salary Expense 1700

CR Cash 1700

E. DR Accounts Payable 700

CR Cash 700

F. DR Accrued Income 5900

CR Services 5900

G. DR Capital 6700

CR Cash 6700

T accounts are made by the name of a certain account and debiting or crediting the effecting account.

Trial Balance

Cash 4200

Furniture 5200

Capital 12600

Rent expense 1500

office supplies 900

Salary expense 1700

Accounts payable 200

Services (COGS) 5900

Accrued Income 5900

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3 years ago

It takes 30 minutes of direct labor time to make one unit. Direct labor wages average $17 per hour. Variable overhead is applied

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Answer:

$404,000

Explanation:

Overheads includes all indirect cost incurred to product the units to be sold. Indirect costs are those costs which are not directly traceable / attributable to the product. These cost are variable and fixed.

Time for each unit = 30 minutes = 0.5 hours

Budgeted production in November = Closing Inventory + Sales in November - Opening Inventory.

Budgeted production in November = (180,000 x 10% ) + 135,000 - 14,000 = 139,000

Budgeted production overhead Included all the variable and fixed overheads incurred to produce the budgeted production.

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3 years ago

Gable Company uses three activity cost pools. Each pool has a cost driver. Information for Gable Company follows:

Amiraneli [1.4K]

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the activity rate for each activity:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Machining= 312,000/80,000= $3.9 per machine hour

Designing costs= 73,600/8,000= $9.2 per design hour

Setup costs= 71,600/500= $143.2 per batch

<u>Now, we can allocate overhead to each product:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

<u>Product A:</u>

Machining= 3.9*30,000= 117,000

Designing costs= 9.2*3,200= 29,440

Setup costs= 143.2*50= 7,160

Total overhead= $153,600

<u>Product B:</u>

Machining= 3.9*40,000= 156,000

Designing costs= 9.2*1,800= 16,560

Setup costs= 143.2*175= 25,060

Total overhead= $197,620

<u>Product C:</u>

Machining= 3.9*10,000= 39,000

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Total overhead= $105,980

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2 years ago

What are the major benefits to philips of shifting so much of its global production to china?

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There were many major benefits to philips of shifting so much of its global production to china.

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Using China as a global supply base from which to serve the world offers several benefits to Philips. By having a single production location, the company can capitalize on costs savings that come from economies of scale as well as the low wages in China.

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