Business, 05.05.2020 08:23 flex23

Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations:

Materials purchased on account, $2,570.
Materials requisitioned and factory labor used:
Job No. Materials Factory Labor
101 $3,080 $2,430
102 3,760 3,280
103 2,490 1,600
104 8,440 6,030
105 5,360 4,590
106 3,910 2,920
For general factory use 1,050 3,600
Factory overhead costs incurred on account, $5,880.
Depreciation of machinery and equipment, $1,730.
The factory overhead rate is $45 per machine hour.

Machine hours used:
Job No. Machine Hours
101 22
102 19
103 16
104 85
105 36
106 35
Total 213
Jobs completed: 101, 102, 103, and 105.
Jobs were shipped and customers were billed as follows: Job 101, $7,800; Job 102, $9,470; Job 105, $13,950.

Journalize the entries to record the summarized operations.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 02:50

Seattle bank’s start-up division establishes new branch banks. each branch opens with three tellers. total teller cost per branch is $96,000 per year. the three tellers combined can process up to 90,000 customer transactions per year. if a branch does not attain a volume of at least 60,000 transactions during its first year of operations, it is closed. if the demand for services exceeds 90,000 transactions, an additional teller is hired and the branch is transferred from the start-up division to regular operations. required what is the relevant range of activity for new branch banks

Answers: 2

Answer

Business, 22.06.2019 06:30

Select all that apply. select the ways that labor unions can increase wages. collective bargaining reducing the labor supply increasing the demand for labor creating monopolies

Answers: 1

Answer

Business, 22.06.2019 16:00

Winners of the georgia lotto drawing are given the choice of receiving the winning amount divided equally over 2121 years or as a lump-sum cash option amount. the cash option amount is determined by discounting the annual winning payment at 88% over 2121 years. this week the lottery is worth $1616 million to a single winner. what would the cash option payout be?

Answers: 3

Answer

Business, 22.06.2019 17:40

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.

Answers: 3

Answer

You know the right answer?

Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses a job order cost...

Questions