"E3-26A Record manufacturing overhead (Learning Objectives 5 & 6) Refer to the data in Exercise 3-25A. Smith’s accountant found an error in the expense records from the year reported. Depreciation on manufacturing plant and equipment was actually $364,000, not the $480,000 that had originally been reported. The unadjusted Cost of Goods Sold balance at year-end was $610,000."
a. Prepare the journal entry (entries) to record manufacturing overhead costs incurred.
b. Prepare the journal entry to record the manufacturing overhead allocated to jobs in production.
c. Use a T-account to determine whether manufacturing overhead is underallocated or overallocated, and by how much.
d. Record the entry to close out the underallocated or overallocated manufacturing overhead.
Answers: 1
Business, 22.06.2019 05:10
Responsible for setting the goals and planning for the future as well as leading and controlling the work of others. out the decisions of top management. often responsible for various departments such as the production, marketing, and accounting departments. process or function of planning organizing leading and controlling. the resources arranged in an orderly and functional way to accomplish goals and objectives. the company on track and making sure goals are met. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. act or process of creating goals and objectives as well as the strategies to meet them. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. how the firm is structured and who is in charge of whom. direction and vision
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Business, 22.06.2019 18:00
If you would like to ask a question you will have to spend some points
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Business, 22.06.2019 20:30
1. what is the lowest balance during this period? 2. lily just received her bank statement below. a. what does the bank think her ending balance is? b. how much more does the bank think lily has? c. what transactions are missing? 3. what is the danger of not balancing your bank account? lily’s bank statement deposits: 2/25 $35 2/26 $20 3/1 $256.32 checks: 2/24 ck #301 $25 2/26 #302 $150 debit card: 2/24 american eagle $75.48 2/25 chick fa la $4.67 2/27 mcdonalds $3.56 2/28 chevron $34.76 withdrawal: 2/27 $40 beginning balance $423.34 deposits $311.32 total debits $333.47 ending balance $401.19
Answers: 1
Business, 23.06.2019 00:10
Mno corporation uses a job-order costing system with a predetermined overhead rate based on direct labor-hours. the company based its predetermined overhead rate for the current year on the following data: total estimated direct labor-hours 50,000 total estimated fixed manufacturing overhead cost $ 285,000 estimated variable manufacturing overhead per direct labor-hour $ 3.80 recently, job p123 was completed with the following characteristics: total actual direct labor-hours 20 direct materials $ 710 direct labor cost $ 500 the amount of overhead applied to job p123 is closest to:
Answers: 2
"E3-26A Record manufacturing overhead (Learning Objectives 5 & 6) Refer to the data in Exercise...
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