Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
6th Edition
ISBN: 9780134486857
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter 17, Problem 4SE
To determine
Prepare the
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What journal entry is recorded when a material manager recieves a materials requisiton andthen issues materials (both direct and indirect) for use in the factory?
Which of the following items would be classified as part of factory overhead?
a. amortization of manufacturing patents
b. factory supplies used
c. production supervisors' salaries
Od. all of these choices
What journal entry is recorded when a materials manager receives a materials requisition and then issues materials (both direct and indirect) for use in the factory?
Chapter 17 Solutions
Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Would the following companies most likely use a...Ch. 17 - Prob. 6TICh. 17 - Record the following journal entries for Smith...Ch. 17 - Prob. 8TICh. 17 - Prob. 9TICh. 17 - Prob. 10TI
Ch. 17 - Prob. 11TICh. 17 - Prob. 12TICh. 17 - The following information pertains to Smith...Ch. 17 - Prob. 14TICh. 17 - Prob. 15TICh. 17 - Prob. 16TICh. 17 - Wesson Company is a consulting firm. The firm...Ch. 17 - Prob. 18TICh. 17 - Would an advertising agency use job order or...Ch. 17 - Prob. 2QCCh. 17 - When a manufacturing company uses indirect...Ch. 17 - When a manufacturing company uses direct labor, it...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - Gell Corporation manufactures computers. Assume...Ch. 17 - A manufacturing company completed work on a job....Ch. 17 - For which of the following reasons would David...Ch. 17 - Why do managers need to know the cost of their...Ch. 17 - What types of companies use job order costing...Ch. 17 - What types of companies use process costing...Ch. 17 - What is the purpose of a job cost record?Ch. 17 - Explain the difference between cost of goods...Ch. 17 - A job was started on May 15, completed on June 27,...Ch. 17 - Give the journal entry for raw materials purchased...Ch. 17 - What is the purpose of the raw materials...Ch. 17 - How does the use of direct and indirect materials...Ch. 17 - Prob. 10RQCh. 17 - Give five examples of manufacturing overhead...Ch. 17 - What is the predetermined overhead allocation...Ch. 17 - What is an allocation base? Give some examples.Ch. 17 - How is manufacturing overhead allocated to jobs?Ch. 17 - A completed job cost record shows the unit cost of...Ch. 17 - Prob. 16RQCh. 17 - Give the journal entry for the completion of a...Ch. 17 - Prob. 18RQCh. 17 - Explain the difference between underallocated...Ch. 17 - If a company incurred 5,250 in actual overhead...Ch. 17 - Prob. 21RQCh. 17 - Explain the terms accumulate, assign, allocate,...Ch. 17 - Prob. 23RQCh. 17 - Prob. 24RQCh. 17 - Would the following companies most likely use job...Ch. 17 - Prob. 2SECh. 17 - Analyze the following T-accounts to determine the...Ch. 17 - Prob. 4SECh. 17 - Oak Outdoor Furniture manufactures wood patio...Ch. 17 - Job 303 includes direct materials costs of 550 and...Ch. 17 - Calculating predetermined overhead allocation...Ch. 17 - Lincoln Company completed jobs that cost 38,000 to...Ch. 17 - Columbus Enterprises reports the following...Ch. 17 - The T-account showing the manufacturing overhead...Ch. 17 - Adjusting Manufacturing Overhead Justice Companys...Ch. 17 - Prob. 12SECh. 17 - Prob. 13SECh. 17 - Prob. 14SECh. 17 - Prob. 15ECh. 17 - Defining terminology Match the following terms to...Ch. 17 - Prob. 17ECh. 17 - Goldenrod Company makes artificial flowers and...Ch. 17 - Selected cost data for Classic Print Co. are as...Ch. 17 - Prob. 20ECh. 17 - Prob. 21ECh. 17 - Prob. 22ECh. 17 - Jordan Company has the following information for...Ch. 17 - Journalize the following transactions for Marges...Ch. 17 - Prob. 25ECh. 17 - Analyze the following T-accounts, and determine...Ch. 17 - Prob. 27ECh. 17 - Clement Manufacturing makes carrying cases for...Ch. 17 - Ki Technology Co. manufactures DVDs for computer...Ch. 17 - Superior Construction, Inc. is a home builder in...Ch. 17 - Accounting for manufacturing overhead Prestige...Ch. 17 - Mighty Stars produces stars for elementary...Ch. 17 - Bluebird Design, Inc. is a Web site design and...Ch. 17 - Sutherland Manufacturing makes carrying cases for...Ch. 17 - Ye Technology Co. manufactures DVDs for computer...Ch. 17 - Meadow Construction, Inc. is a home builder in...Ch. 17 - Accounting for manufacturing overhead Elegant...Ch. 17 - Hero Stars produces stars for elementary teachers...Ch. 17 - Skylark Design, Inc. is a Web site design and...Ch. 17 - Accounting for manufacturing overhead This problem...Ch. 17 - Granite Construction Incorporated is a major...Ch. 17 - Hiebert Chocolate, Ltd. is located in Memphis. The...Ch. 17 - Prob. 1FC
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- A summary of the time tickets is as follows: Journalize the entry to record the factory labor costs.arrow_forwardPrepare the journal entries for materials and labor, based on the following: Raw materials issued: Job No. 609, $850; for general use in factory, $600. Labor time tickets: Job No. 609, $1,600; $400 for supervisionarrow_forwardA summary of material requisition slips and time tickets, along with the overhead allocation, show these costs: Prepare a journal entry to record the assignment of direct material to work in process. Prepare a journal entry to record the assignment of direct labor to work in process. Prepare a journal entry to record the assignment of manufacturing overhead to work in process.arrow_forward
- Prepare the journal entries to record the assignment of direct materials, direct wages and the allocation of manufacturing overhead to the Molding Department Account, as well as, the cost of the units completed and transferred out to the Drying Department.arrow_forwardIdentify whether the following items should be included in Direct Materials (DM), Direct Labor (DL), Manufacturing Overhead (MO) or Period Costs (PC) (a) Assembly line wages (b) Raw materials used directly in product (c) Depreciation on office equipment (d) Property taxes on factory building (e) Rent on factory building (f) Sales commissions (g) Depreciation on factory equipment (h) Factory utilities (i) Wages for factory maintenance workers 0) Advertising (k) Indirect materials used in production (1) Factory manager's salaryarrow_forwardThe following is a list of manufacturing costs incurred by Denney Manufacturing Co. during July: Prepare the journal entries to: a. Charge the cost of materials to Work in Process and Factory Overhead. b. Charge the cost of labor to Work in Process and Factory Overhead. c. Record Factory Overhead costs. d. Record the transfer of Factory Overhead to Work in Process.arrow_forward
- Classify each of the following items of factory overhead as a(n) unit-level, batch-level, product-level, or facility-level cost. a. Insurance on the building b. Depreciation of building (straight-line method) c. Depreciation of machinery (units-of-production method) d. Polishing compounds e. Machine lubricants f. Wages of forklift driver g. Building rent h. Plant managers salary i. Product inspectors wages j. Product design costsarrow_forwardWhat are the sources for posting indirect labor cost to the indirect labor account in the factory overhead ledger?arrow_forwardAdam Inc.s records for May include the following information: A. What are Adams standard labor hours for the units made? B. What is Adams total standard labor cost for the units made?arrow_forward
- A summary of materials requisition slips and time tickets, along with the overhead allocation, show these costs: Prepare an entry to record the assignment of direct material to work in process. Prepare an entry to record the assignment of direct labor to work in process. Prepare an entry to record the assignment of manufacturing overhead to work in process.arrow_forwardJournalize the entries for the following summarized operations related to production for a company using job order costing: a. Materials purchased on account b. Prepaid expenses incurred on account c. Materials requisitioned: For production orders For general factory use d. Factory labor used: On production orders For general factory purposes e. Depreciation on factory equipment f. Expiration of prepaid expenses, chargeable to factory g. Factory overhead costs incurred on account ) h. Factory overhead applied, based on machine hours i. Jobs finished j. Jobs shipped to customers: Cost Selling price (assume all sold on account) If an amount box does not require an entry, leave it blank. Show Transcribed Text a. C. f. b. d. 9. i. h. j. Show Transcribed Text Sale 3 00 00 00 00 00 000 000 00 00 - 00 00 00 00 00 Ć $176,000 12,200 153,700 2,700 141,300 12,000 37,000 6,100 76,000 105,300 415,300 412,000 638,000arrow_forwardPrepare a T-account for each account on the company’s balance sheet, and enter the beginning balances. Make entries directly into the T-accounts for the transactions given above. Create new T-accounts as needed. Determine an ending balance for each T-account. Was manufacturing overhead underapplied or overapplied for the year? Assume that the company allocates any overhead balance among the Work in Process, Finished Goods, and Cost of Goods Sold accounts, using the overall balances in each account. Prepare a journal entry to show the allocation. (Round allocation percentages to one decimal place.) Prepare an income statement for the year. (Do not prepare a schedule of cost of goods manufactured; all of the information needed for the income statement is available in the T-accounts.)arrow_forward
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