Info
Warning
Danger
/ Homework Answers / Accounting / Question 2. The following activities took place in the work in

Question

Question

2. The following activities took place in the work in process inventory account during April: 15,000 Beginning balance 120,000 Direct materials used Total manufacturing labor incurred in April was $162,500, 801 of this amount represented direct labor The predetermined manufacturing overhead rate is 120% of direct labor cost Actual manufacturing overhead costs for April amounted to $150,000. Two jobs were completed with total costs of $120,000 and $85,000, respectively. They were sold on account for $265,000 and $155,000, respectively. a) Compute the balance in work in process inventory on April 30. b) Record the journal entry for direct materials used in April c) Record the journal entry for total manufacturing labor incurred in April. d) Record the journal entry to allocate manufacturing labor to the appropriate accounts. e) Record the journal entry for allocated manufacturing overhead for April. f) Record the entry to move the completed jobs into finished goods inventory. g) Record the entry to sell the two completed jobs on account.

Solution
5 (1 Ratings )

Solved
Accounting 1 Month Ago 54 Views
This Question has Been Answered!
Premium Content -

Welcome Back!

ScholarOn has more then 20 Million answers, flashcards & more being added everyday!

or
Forgot?
Login
Don't have an account? Signup

Join ScholarOn

ScholarOn has more then 20 Million answers, flashcards & more being added everyday!

or
Signup
By registering, I agree to the Terms and Privacy Policies
Already have an account? Log in

Verify Your Email

Check your inbox & click on the link to activate your account.

Resend Email
Verification Mail Send Successfully. Please Check Your Email.

Forgot Password

Please enter your registered email to recieve the password reset link.

Send reset link
Already have an account? Log in
Did you know?

ScholarOn has more than 2 Million+ answers, textbook solutions & flashcards. Explore Now!

d
Let us boost your grade together!

Get 24/7 homework help from Experts

Let our knowledge be your backup

1

Submit your homework question or assignment

2

Receive a quote & Make the Payment

3

Sit Back & Relax to Earn Better Grades!

Drag files here or Browse your Device

Maximum file size 10MB
17,475 Accounting Questions Answered! Get Answer

We are The Best Because

  • On Time Delivery
  • Plagiarism ReportFree
  • Unlimited RevisionsFree
  • 100% Privacy & Confidential
  • 24/7 Live Chat Support
4.9 (16137 Ratings)
You can communicate directly with your expert until the solution quality is delivered to your complete satisfaction.
Looking for writing help?
Did you know?

ScholarOn has more than 2 Million+ answers, textbook solutions & flashcards. Explore Now!