Copy of ch15

# Copy of ch15 - Name: Instructor: Accounting, Fourth Edition...

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58417c12ae681a79b8e981bc49e176d7131ac7a2.xlsx, Exercise E15-1, Page 1 of 7 Page(s), 11/04/201105:06:27 Name: Date: Instructor: Course: E15-1 - Prepare entries for factory labor. The gross earnings of the factory workers for Vargas Company during the month of January ar \$66,000 The employer’s payroll taxes for the factory payroll are \$8,000 The fringe benefits to be paid by the employer on this payroll are \$6,000 Of the total accumulated cost of factory labor, 85% is related to direct labor and 15% is attributable to indirect labor. Instructions: Account title Amount Account title Amount Account title Amount Account title Amount Account title Amount Account title Amount Account title Amount Accounting , Fourth Edition by Kimmel, Weygandt, and Kieso Primer on Using Excel in Accounting by Rex A Schildhouse (a) Prepare the entry to record the factory labor costs for the month of January. (b) Prepare the entry to assign factory labor to production.

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58417c12ae681a79b8e981bc49e176d7131ac7a2.xlsx, Exercise E15-5, Page 2 of 7 Page(s), 11/04/201105:06:27 Name: Date: Instructor: Course: E15-5 - Compute the manufacturing overhead rate and under- or overapplied overhead. are expected to total \$325,000 for the year, and machine usage is estimated at 125,000 hours. For the year \$342,000 of overhead costs are incurred and 130,000 machine hours are used. Instructions: Amount = Formula per machine hour Number Actual machine hours: Number Standard rate: Amount Title Formula Title Amount Title Formula Account title Amount Account title Amount Accounting , Fourth Edition by Kimmel, Weygandt, and Kieso Primer on Using Excel in Accounting by Rex A Schildhouse costs are expected to total \$325,000 for the year, and machine usage is estimated at 125,000 hours. (a) Compute the manufacturing overhead rate for the year. (b) What is the amount of under- or overapplied overhead at December 31? (c) Assuming the under- or overapplied overhead for the year is not allocated to inventory accounts, prepare the adjusting entry to assign the amount to cost of goods sold.
58417c12ae681a79b8e981bc49e176d7131ac7a2.xlsx, Exercise E15-9, Page 3 of 7 Page(s), 11/04/201105:06:27 Name: Date: Instructor: Course: E15-9 - Prepare a cost of goods manufactured schedule and partial financial statements. At May 31, 2012, the accounts of Mantle Manufacturing Company show the following. Finished goods, May 1 \$12,600 Work in process, May 1 14,700 Raw materials, May 1 8,200 Finished goods, May 31 \$9,500 Work in process, May 31 17,900 Raw materials, May 31 7,100 Direct materials \$62,400 Direct labor 50,000 Manufacturing overhead applied 40,000 \$210,000 Instructions: MANTLE MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Month Ended May 31, 2012 Title Amount Title Amount Title Amount Title Amount Title Formula Title Formula Less: Title Amount Title Formula MANTLE MANUFACTURING COMPANY (Partial) Income Statement For the Month Ended May 31, 2012 Title Amount Title Title Amount Title Amount

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## This document was uploaded on 11/03/2011 for the course ACCOUNTING ac 201 at Montgomery.

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Copy of ch15 - Name: Instructor: Accounting, Fourth Edition...

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