3.55 - 1,700 Cash. ........................................

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
3.55 (25 min) Journal entries in job-order costing a. r hou machine per $20 71,000 $1,420,000 hours machine budgeted overhea ing manufactur budgeted rate overhead ned Predetermi = = = b. Journal entries: 1. Raw-Material Inventory. ................ 7,850 Accounts Payable. .................. 7,850 2. Work-in-Process Inventory. ............ 180 Raw-Material Inventory. ......... 180 3. Manufacturing Overhead. .............. 30 Manufacturing-Supplies Inventory. ..................................... 30 4. Manufacturing Overhead. .............. 800 Cash. ..................................... 800 5. Work-in-Process Inventory. ............ 75,000 Wages Payable. ...................... 75,000 6. Selling and Administrative Expense 1,800 Prepaid Insurance. ................. 1,800 7. Raw-Material Inventory. ................ 3,000 Accounts Payable. .................. 3,000 8. Accounts Payable. .........................
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 1,700 Cash. ..................................... 1,700 9. Manufacturing Overhead. .............. 21,000 Wages Payable. ...................... 21,000 1 0. Manufacturing Overhead. .............. 7,000 Accumulated Depreciation: Equipment. .................................... 7,000 1 1. Finished-Goods Inventory. ............. 1,100 Work-in-Process Inventory. ..... 1,100 3.55 (continued) 12 . Work-in-Process Inventory. ............ 138,000* Manufacturing Overhead. ....... 138,000 *Applied manufacturing overhead = 6,900 machine hours × $20 per hour. 13 . Accounts Receivable. ..................... 179,000 Sales Revenue. ....................... 179,000 Cost of Goods Sold. ....................... 141,000 Finished-Goods Inventory. ...... 141,000...
View Full Document

This note was uploaded on 11/25/2010 for the course ACCT 33010 taught by Professor Staff during the Spring '08 term at Kent State.

Page1 / 3

3.55 - 1,700 Cash. ........................................

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online