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Huckvale Corporation manufactures custom cabinets for kitchens.
Huckvale Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cost categorieslong dashdirect materials and direct manufacturing laborlong dashand one indirect cost pool, manufacturing overhead costs. It provides the following information for April 2017.
Actual direct materials used
$30,000
Actual direct manufacturing labor costs paid in cash
$50,000
Indirect materials used
$1,500
Supervision and engineering salaries paid in cash
$45,000
Plant utilities and repairs paid in cash
$13,000
Plant depreciation
$14,000
Actual direct manufacturing labor-hours
3,100
Cost of individual jobs completed and transferred to finished goods
$160,000
Cost of goods sold
$125,000
Budgeted manufacturing overhead costs
$784,000
Budgeted direct manufacturing labor-hours
28,000
hours
Present journal entries for (a) usage of direct and indirect materials, (b) manufacturing labor incurred, (c) manufacturing overhead costs incurred, (d) allocation of manufacturing overhead costs to jobs, (e), cost of jobs completed and transferred to finished goods, and (f) cost of goods sold. (Assume the cost allocation base is direct labor hours.)
