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3 years ago

Storm Concert Promotions Valle Home Builders

Business

1 answer:

KIM [24]3 years ago

6 0

Answer:

Storm Concert Promotions

It was overapplied as the amount appliued exceed the actual overhead cost so we decrease the cost of good.

manufacturing overhead 3,200 debit

COGS 3,200 credit

Valle Home Builders

It was underapplied as the amount applied was below the actual overhead cost. We must increase the cost of our good sold to recognize the extra cost.

COGS 1,200 debit

manufacturing Overhead 1,200 credit

Explanation:

Storm Concert Promotions

Actual indirect materials costs 22,000

Actual indirect labor costs 46,000

Other overhead costs 17,000

Total overhead 85,000

Overhead applied 88,200

Overapplied overhead 3,200

Valle Home Builders

Actual indirect materials costs 12,500

Actual indirect labor costs 46,500

Other overhead costs 47,000

Total overhead 106,000

Overhead applied 105,200

Overhead underapplied 1,200

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Answer:

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Explanation:

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3 years ago

Use the following information for exercises 15 to 18 LO P2 The following information applies to the questions displayed below] O

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Answer:

Ernst Consulting

Balance Sheet

For the Month Ended October 31, 202x

Assets:

Cash $12,650

Accounts receivable $12,800

Office supplies $2,850

Office equipment $17,530

Land $45,940

Total assets $91,770

Liabilities and stockholders' equity:

Accounts payable $8,110

Common Stock $83,540

Retained earnings $120

Total liabilities and stockholders' equity $91,770

Explanation:

I ordered the accounts and included a couple that were missing:

Cash 12,650
Accounts receivable 12,800
Consulting revenue 12,800
office supplies 2,850
Land 45,940
office equipment 17,530
Accounts payable 8,110
Cash dividends 1,570
Common Stock 83,540
Rent expense 3,110
Salaries expense 6,490
Telephone expense 850
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Salaries expense -6,490

Rent expense -3,110

Telephone expense -850

Miscellaneous expenses -660

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3 years ago

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Answer:

Cutting $0

Revenue $1,480,000

Explanation:

Cutting Assembly

Revenue $660,000 $2,500,000

Cost of services:

Incurred $ 660,000 $ 360,000

Transferred-in $0 $660,000

Total $ 660,000 $1,020,000

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60,000 cords x $11 = $660,000

Operating income:

Cutting

Revenue $660,000 - Total $ 660,000 =0

Assembly

Revenue $2,500,000- Total$1,020,000

=$1,480,000

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3 years ago

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