Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 22 Jul 2017 My Price 13.00

Pam Lee Company

During April, Pam Lee Company works on two jobs: Numbers 101 and 102. Summary data concerning these jobs are as follows:

Manufacturing Costs Incurred

Purchased S68;000 of raw materials on account.

Factor y labor of S100,000 plus 56000 employer payroll taxes.

Manufacturing overhead exclusive of indirect materials and indirect labor of $72,500.

Assignment of Costs

Direct materials:

Job 101436,000, Job 102-530,000

Indirect materials:

$4,000

Direct labor:

Job 101468,000, Job 102-534,500

Indirect labor:

$3,500

Manufacturing overhead rate 70% of direct labor costs.

Job 101 was completed and sold on account for S184,000. Job 102 was only partially completed

Instructions

  1. Journalize the April transactions in the sequence followed in the chapter.
  2. What was the amount of under- or overapplied manufacturing overhead?

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Jul 2017 01:07 PM My Price 13.00

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