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Papessa [141]
3 years ago
13

Farrel Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just compl

eted year: Direct labor cost $574,000 Manufacturing overhead: Indirect labor cost $163,000 Other manufacturing overhead costs incurred $584,000 What is the journal entry to record the direct and indirect labor costs incurred during the year?
Business
1 answer:
Anni [7]3 years ago
5 0

Answer:

      Cost                                     Debit             Credit  

Work in Process inventory        $574,000  

Manufacturing overhead           $163,000  

Wages payable/Cash                                      $737,000

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Answer:

Cost per unit of widget produced = $6.52

Explanation:

As for the provided information:

Total units produced = 4,600 units

Total cost of production = costs for Department 1 + Department 2 + Department 3

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Therefore, all the cost will be considered.

Thus total cost of production = $30,000 for 4,600 units.

Cost per unit of widget = \frac{30,000}{4,600} = 6.52

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Answer:

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Explanation:

The solution of balances for equipment and accumulated depreciation is shown below:-

balances for equipment and accumulated depreciation

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Beginning balance $390,000            $78,000

Add:

Addition                   $84,000               $32,000

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