subject
Business, 17.06.2020 22:57 xXFLUFFYXx

The following transactions were incurred by Whooley Fabricators during January, the first month of its fiscal year. Requirements
1. Record the proper journal entry for each transaction.
a. $ 205,000 of materials was purchased on account.
b. $ 174,000 of materials was used in production; of this amount, $ 146,000 was used on specific jobs.
c. Manufacturing labor and salaries for the month totaled $ 210,000. $ 200,000 of the total manufacturing labor and salaries was traced to specific jobs, and the remain-der was indirect labor used in the factory.
d. The company recorded $ 16,000 of depreciation on the plant and plant equipment. The company also received a plant utility bill for $ 14,000.
e. $ 56,000 of manufacturing overhead was allocated to specific jobs.
2. By the end of January, was manufacturing overhead overallocated or underallocated? By how much?

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 10:10
At the end of year 2, retained earnings for the baker company was $3,550. revenue earned by the company in year 2 was $3,800, expenses paid during the period were $2,000, and dividends paid during the period were $1,400. based on this information alone, retained earnings at the beginning of year 2 was:
Answers: 1
question
Business, 22.06.2019 16:00
In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.
Answers: 1
question
Business, 22.06.2019 19:40
Best burger is a major fast food chain. its managers are motivated to grow the firm in order to increase their market power and change the industry structure in their favor. which of the following strategies is most associated with their motive for growth? a. employing celebrity spokespeople b. implementing automated burger-making machinery c. purchasing competitors d. increasing executive salaries
Answers: 3
question
Business, 22.06.2019 20:20
Trade will take place: a. if the maximum that a consumer is willing and able to pay is less than the minimum price the producer is willing and able to accept for a good. b. if the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good. c. only if the maximum that a consumer is willing and able to pay is equal to the minimum price the producer is willing and able to accept for a good. d. none of the above.
Answers: 3
You know the right answer?
The following transactions were incurred by Whooley Fabricators during January, the first month of i...
Questions
question
Mathematics, 11.11.2020 01:00
question
Mathematics, 11.11.2020 01:00
question
Mathematics, 11.11.2020 01:00
question
Mathematics, 11.11.2020 01:00
question
Mathematics, 11.11.2020 01:00