Answer:
January:
Total overhead= $11,948
February:
Total overhead= $11,360
March:
Total Overhead= $13,302.5
Explanation:
Giving the following information:
Budgeted direct labor hours for the first 3 months of the coming year are:
January= 13,140
February= 12,300
March 15,075
The variable overhead rate is $0.70 per direct labor hour. Fixed overhead is budgeted at $2,750 per month.
To calculate the total overhead for each month, we need to sum the total variable overhead and the fixed overhead. <u>Total variable overhead is the result of applying the variable overhead rate multiplicated with the direct labor hour.</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
January:
Total overhead= (0.70*13,140) + 2,750= $11,948
February:
Total overhead= (0.70*12,300) + 2,750= $11,360
March:
Total Overhead= (0,70*15,075) + 2,750= $13,302.5
Answer:
A.
Dr Cash 266,178
Cr Sales Revenue 243,741
Cr Unearned Warranty Revenue 22,437
b)Current Liabilities:Unearned Warranty Revenue 90,579
Long-term liabilities:Unearned Warranty Revenue 181,158
Explanation:
Teal Company
A.
Dr Cash (814*327) 266,178
Cr Sales Revenue 243,741
Cr Unearned Warranty Revenue (277*81) 22,437
b)Current Liabilities:Unearned Warranty Revenue 90,579
(327×277)
Long-term liabilities:Unearned Warranty Revenue 181,158
(90,579×2)
Answer:
Journal Entries
Date Account Titles and Explanation Debit Credit
Oct. 1 Cash $34,040
Common Stock $34,040
(To record the cash is invested in the business)
Oct. 2 No Journal Entry $0
Oct. 3 Office Furniture $4,110
Accounts Payable $4,110
(To record the purchase of office furniture on account)
Oct. 6 Accounts Receivable $10,780
Service Revenue $10,780
(To record the services provided but cash is not yet collected)
Oct. 10 Cash $165
Service Revenue $165
(To record the services provided by cash)
Oct. 27 Accounts Payable $690
Cash $690
(To record the payment made on accounts payable
relating to office furniture)
Oct. 30 Salaries Expense $2,740
Cash $2,740
(To record the payment of salaries to the assistant)
That would be E job completion paying extra to stay and get the work done is job completion.
