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Studentka2010 [4]
3 years ago
9

The Polaris Company uses a job-order costing system. The following data relate to October, the first month of the company’s fisc

al year. a. Raw materials purchased on account, $210,000. b. Raw materials issued to production, $192,000 ($153,600 direct materials and $38,400 indirect materials). c. Direct labor cost incurred, $49,000; indirect labor cost incurred, $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs incurred during October, $130,000 (credit Accounts Payable). f. The company applies manufacturing overhead cost to production on the basis of $6 per machine-hour. A total of 76,400 machine-hours were recorded for October. g. Production orders costing $511,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Production orders that had cost $450,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 32% above cost. Required: 1. Prepare journal entries to record the information given above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant information above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $34,000.
Business
1 answer:
adelina 88 [10]3 years ago
4 0

Answer:

tru

Explanation:

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3 years ago
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shepuryov [24]

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$20,880

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In order to allocate the building operation costs to Operating department A, we need to determine what percentage of the building space taken up by Operating departments is used by Operation Department A.

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7 0
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which protects tricare beneficiaries from devastating financial loss due to serious illness or long-term treatment by establishi
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3 0
1 year ago
KL Airlines paid an annual dividend of $1.18 a share last month. The company is planning on paying $1.50, $1.75, and $1.80 a sha
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