1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alja [10]
3 years ago
15

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,920 and two j

obs in process: Job No. 429 $2,600, and Job No. 430 $1,320. During May, a summary of source documents reveals the following. Job Number Materials Requisition Slips Labor Time Tickets 429 $3,040 $2,300 430 4,020 3,400 431 4,740 $11,800 7,900 $13,600 General use 900 1,310 $12,700 $14,910 Stine Company applies manufacturing overhead to jobs at an overhead rate of 62% of direct labor cost. Job No. 429 is completed during the month. Prepare summary journal entries to record (1) the requisition slips, (2) the time tickets, (3) the assignment of manufacturing overhead to jobs, and (4) the completion of Job No. 429. Show work for numbers.
Business
1 answer:
Tanya [424]3 years ago
7 0

Answer:

job 429 -WIP      3040 debit

job 430 -WIP      4020 debit

job 431 -WIP       4740 debit

factory overhead 900 debit

     raw materials             12,700 credit

--to record materials requisions--

job 429 -WIP      2,300 debit

job 430 -WIP      3,400 debit

job 431 -WIP       7,900 debit

factory overhead 1,310 debit

     wages payables            14,910 credit

--to record wages tickets--

job 429 -WIP      1,426 debit

job 430 -WIP      2,046 debit

job 431 -WIP       4,898 debit

     factory overhead            8,370 credit

--to record applied overhead--

Explanation:

job 429 -WIP:  2300 x 62% =  1,426

job 430 -WIP:  3400 x 62% = 2,046

job 431  -WIP:  7900 x 62% = 4,898

total overhead: 8,370

You might be interested in
Creative Images Co. offers its services to individuals desiring to improve their personal images. After the accounts have been a
Marysya12 [62]

Answer and Explanation:

The journal entries are shown below:

Fees Earned 694,400

         To Wages Expense 471,000

        To Rent Expense 69,500

        To Supplies Expense 11,100

        To Miscellaneous Expense 14,900

        To Violet Lozano, Capital 127,900

Violet Lozano, Capital 12,000

          To Violet Lozano, Drawing 12,000

 Now the post trail balance is

Cash                            12,700

Accounts Receivable 28,190

Supplies                     1,780

Equipment               125,600

Accumulated Depreciation             41,910

Accounts Payable                            15,240

Salaries Payable                                1,400

Unearned Rent                                   5,720

Sonya Flynn, Capital                        104,000

Totals                 168,270                 168,270

5 0
2 years ago
Will name brainleist and give 5 points and friend
9966 [12]
Whoever designed, help to create, or manufacture the robot helped save her life. In addition, anybody who helped transport it to the hospital, coded the machine, got the resources to create the machine. However far you are willing to take the depth. If you're willing to go into specifics, you can go into whoever designed certain parts and how it would have been without the robot. I out C!!!!!
5 0
3 years ago
Read 2 more answers
If a firm engages in final assembly in its home operations, then which of the following operations of the firm in a foreign coun
Talja [164]

Answer:

D) Marketing

Explanation:

Vertical foreign direct investment (FDI) refers to companies moving upstream (R&D and manufacturing process) or downstream (distribution and selling process) in different value chain stages in a host country.

In this case, downstream vertical FDI includes marketing activities done at the host country. Upstream vertical FDI would include the purchase of component parts in the host country.

3 0
3 years ago
Arbitration places a dispute before a third party for a binding settlement. true or false
kenny6666 [7]
<em />It is true that arbitration places a dispute before a third party for a binding settlement. 
4 0
3 years ago
Which of the following is correct concerning the FOMC? Group of answer choices
svetoff [14.1K]

Answer:

All the above are correct

6 0
3 years ago
Read 2 more answers
Other questions:
  • Which of the following forms of business organization is likely to suffer most from the principal agent problem between the owne
    14·1 answer
  • Cory Bash has been a private company for all of its business life. The owners long to expand their vision around the world, but
    5·1 answer
  • true or false :those using a learners periy have restrictions on when they may drive because alchol -related crashes are most li
    10·2 answers
  • As a financial advisor, what will you tell your client, Ryan, he should be willing to pay for an investment property that he pla
    7·1 answer
  • Gross wage refers to the wage an employee earns before deductions are subtracted.
    12·1 answer
  • When buyers refuse to pay a product’s stated price or when improvements in other items or fashion changes reduce the appeal of t
    11·1 answer
  • When medicare was passed in 1965, its sponsors said it would cost about ____ a year?
    12·1 answer
  • Which of the following best describes the goal of the firm?A) Maximizing the firm's profits.B) Maximizing the value of the firm'
    15·2 answers
  • Recently, Job P951 was completed with the following characteristics: Number of units in the job 100 Total direct labor-hours 100
    6·1 answer
  • In year 1, Crest Company purchased equipment for $75,000. Crest uses straight-line depreciation over a 5-year useful life with n
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!