On May 15, the stamping department accepted Job 051507A to make 1,000 funnels. Materials requisitioned was 1,100 sheets at $1.20 per sheet and 1,150...

Description


1.     On May 15, the stamping department accepted Job 051507A to make 1,000 funnels. Materials requisitioned was 1,100 sheets at $1.20 per sheet and 1,150 grommets at $0.15 per set. The cost driver used by stamping department is the drop-forge strokes indicated by a machine mounted counter. Overhead is applied at $2.25 for each drop-forge stroke. Additionally, $375.00 of overhead is applied to each job due to setup and tear down. Direct labor is applied at $22.50 per hour for the machine operator and $11.10 for the machine loader. The job required 6.5 hours of labor.Upon completion, the job was transferred to Finished Goods Inventory. Journalize all events as of May 15.

Question

On May 15, the stamping department accepted Job 051507A to make 1,000 funnels. Materials requisitioned was 1,100 sheets at $1.20 per sheet and 1,150...

  • Written in: 17-Oct-2019
  • Paper ID: 359098
Price: $ 15
 

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Approved

DATE ANSWERED

Oct 17, 2019

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