week 6 P3-45 - Problem 3-45 Job-Order Costing; Journal...

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Problem 3-45 Job-Order Costing; Journal Entries (LO 2, 5) Stellar Sound, Inc. which uses a job-order costing system, had two jobs in process at the start of 20x1: job no. 64 ($84,500) and job no. 65 ($53,000). The following information is available: a. The company applies manufacturing overhead on the basis of machine hours. Budgeted overhead and machine activity for the year were anticipated to be $740,900, and 15,500 hours, respectively. b. The company worked on four jobs during the first quarter. Direct materials used, direct labor incurred, and machine hours consumed were as follows:
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Job No. Direct Material Direct Labor Machine Hours 64 $ 20,000 $ 34,500 1,200 65 - 22,500 700 66 45,000 65,500 2,200 67 14,000 9,000 500 c.
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Manufacturing overhead during the first quarter included charges for depreciation ($33,500), indirect labor ($60,000), indirect materials used ($5,100), and other factory costs ($139,700). d.
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week 6 P3-45 - Problem 3-45 Job-Order Costing; Journal...

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