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Sophmore-Acct 200-Bonus 2

Sophmore-Acct 200-Bonus 2 - Ashford Company Predetermined...

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Ashford Company Predetermined Overhead Calculation Budgeted total manufacturing overhead 462,000 Budgeted total direct-labor hours 23,100 $20/hr Journal Entries Dr. Cr. Raw-Material Inventory 5,500 Account Payable 5,500 Raw-Material Inventory 5,700 Account Payable 5,700 Work in Process Inventory 8,100 Raw Materials Inventory 8,100 Manufacturing Overhead 340 Manufaturing Supplies Inventory 340 Work in Process Inventory 48,750 Manufacturing Overhead 14,100 Wages Payable 62,850 Manufacturing Overhead 26,210 Accumulated Depreciation 16,000 Warehouse Rent 1,340 Accout Payable (utilites) 3,600 Property Tax 2,370 Prepaid Insurance 2,900 Selling & Admin Expense 8,800 Cash 8,800 Depreciation Expense 2,250 Accumulated Depreciation 2,250 Accouts Recievable 27,360 Sales Revenue 27,360 Cost of Good Sold 27,360 Finished goods Inventory 27,360 Finished Goods Inventory 66,400 Work In Process Inventory 66,400 Work in process inventory 39,000 manufacturing overhead 39,000 Cost of goods sold 1,650
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Manufacturing Overhead 1,650
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Ashford - T-accounts and posting of journal entries Cash Account Payable Bal. $11,000 $1,340 Bal. $14,500 $2,370 $5,500 $8,800 $5,700 $3,600 Wages Payable
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