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tresset_1 [31]
2 years ago
12

1) Robolane Incorporated manufactures and distributes small robotic toys. Because most of its orders are via telephone or fax, n

umerous orders have to be reworked. The average cost of the reworked orders is $12.45: $5 for labor, $5.15 for more materials, and $2.30 for overhead. This ratio of costs holds for the average original order. On a recent day, the shop reworked 80 orders out of 800. The original cost of the 80 orders totaled $2,000. The average cost of all orders is $26.245, including rework, with an average selling price of $35. Required: Prepare the necessary journal entry to record the rework for the day if the shop charges such activities to Robo Department Overhead Control. Prepare journal entries to record all relevant rework charges as well as to transfer the reworked items finished goods to Finished Goods Inventory.
Business
1 answer:
Ket [755]2 years ago
7 0

Answer:

Following are the Journal entries to the given question:

Explanation:

Accounts                                                              Dr                                        Cr

Robo Department Overhead Control              996

Materials Control (80 \times 5.15) \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \  412

Wages Payable  (80\times 5)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 400

Shop overhead control(80\times  2.30) \ \ \ \ \ \ \ \  \ \ \ \ \ \ \ \ \ 184

Finished Goods                                                  2000

Work in process control                                                                             2000

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