Job P was completed and sold by The end of The March and Job {1 was incomplete at The end oi the March. The company uses a planttvide predetermined...
Hi, hoping to get a breakdown of how specifically both of the Raw Materials entries were computed. Thanks!
[1. Job P was completed and sold by The end of The March and Job {1 was incomplete at The end oi the March. The company uses a planttvidepredetermined overhead rate based on direct labor—hours The following additional information is available for the company as a whole and for Jobs Pand (1 {all data and questions relate to the month of Martin]: Estimated total lit-ted manufacntring overhead 5 10’3“ Eslimated variable manufacnn'ing overhead per 5 1 mdirect labor-hour ‘ Estimated total direct labor-hours to be worked Lilli] Total actual manufacmring overhead costs $12311]incurred Job P Job [1 Direct materials 5 13’8” $Bflflfl Direct labor cost 5 21*? $15M Actual direct labor—hours 1,4oo SUD workedRequired: Assurne the ending raw materials inventory is 51,0130 and the company doesnot use any indirect materials Prepare the journal entries to record rawmaterials purchases and the issuance of direct materials tor use in production General Journal Debit Credit5 5Raw materials BLINDfl flflccounts payable ELDTJDfl flWork in process ElflflflE E Raw materials 2 LDT'JET
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