Exercise 17.7 journal entries, cost flows, and determining account balances page 788 zelda manufacturing organized in june and recorded the following transactions during its first month of operations. purchased materials costing $800,000. used direct materials in production costing $485,000. applied direct labor costs of $500,000 to various jobs. applied manufacturing overhead at a rate of $10 per direct labor hour. (direct labor workers earn $20 per hour.) incurred actual manufacturing overhead costs of $245,000 (credit "various accounts"). transferred completed jobs costing $745,000 to finished goods. sold completed jobs for $1,000,000 on account. the cost applied to the jobs sold totaled $615,000. closed the manufacturing overhead account directly to cost of goods sold on june 30. prepare a journal entry for each of the eight transactions listed. compute the balance of the cost of goods sold account at june 30. determine the company’s inventory balances at the end of june.

What do you think: would it be more profitable to own 200 shares of penny’s pickles or 1 share of exxon? why do you think that?

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.

With q7 assume the sweet company uses a plantwide predetermined overhead rate with machine-hours as the allocation base.and for q 10,11,13,and 14,assume that the company use department predetermined overhead rates with machine-hours as the allocation bade in both departements.7. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answers to nearest whole dollar.)total price for the job for job p -job q selling price per unit for job p q . how much manufacturing overhead was applied from the molding department to job p and how much was applied to job q? (do not round intermediate calculations.) job p job q manufacturing overhead applied for job p for job q . how much manufacturing overhead was applied from the fabrication department to job p and how much was applied to job q? (do not round intermediate calculations.)job p job q manufacturing overhead applied for job p for job q . if job q included 30 units, what was its unit product cost? (do not round intermediate calculations. round your final answer to nearest whole dollar.)14. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answer to nearest whole dollar.)total price for the job p for job q selling price per unit for job p for job q