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Anestetic [448]
3 years ago
7

Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from Novemb

er jobs are summarized as follows:
Job 201 $4,850
Job 202 2,420
Job 203 1,910
Job 204 3,570
Factory supervision 1,660

Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $28 per direct labor hour. The direct labor rate is $17 per hour. If required, round final answers to the nearest dollar.

a. Journalize the entry to record the factory labor costs.
b. Journalize the entry to apply factory overhead to production for November.
Business
1 answer:
Fynjy0 [20]3 years ago
5 0

Answer and Explanation:

The journal entry is given below:

a. Work in process ($4,850 + $2,420 + $1,910 + $3,570) $12,750

Factory overhead $1,660

         To wages payable $14,410

(being the factory labor cost is recorded)

b. Work in process Dr ($12,750 ÷ $17 × $28) $21,000

          To factory overhead $21,000

(being the factory overhead is applied)

These two entries should be recorded for an individual parts

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2 years ago
The __________ is an integrated set of actions taken to produce goods or services (at an acceptable cost) that customers perceiv
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Differentiation strategy

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3 years ago
According to Keynesians, an increase in the money supply will have its greatest impact on GDP when the aggregate demand curve in
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the horizontal portion of the aggregate supply curve.

What is GDP?

The total monetary or market worth of all the finished goods and services produced within a nation's boundaries during a certain time period is known as the gross domestic product (GDP). It serves as a thorough assessment of the state of the economy in a particular nation because it is a wide indicator of total domestic production.

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2 years ago
What is the maximum locked-rotor
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Answer:

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3 years ago
Grayhawk Company reported net credit sales of $588,000 for the year ending December 31, 2019. On January 1, 2019, the Allowance
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Answer:

D) $8,040

Explanation:

<u>Credit Sales Method:</u>

Bad Debt Losses = 3% of Credit Sales

Bad Debt Losses = 0.03 x $588,000

Bad Debt Losses = $17,640

<u>Adjusted balance in the Allowance for Doubtful Accounts:</u>

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$17,640 - ($24,000 - $14,400)

$17,640 - $9,600

$8,040

5 0
3 years ago
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