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Required Information The following information applies to the questions displayed below. Stellar Sound, Inc., which uses a joborder costing system, had two jobs in process at the start of : job no$ and job no$ The following information is available: a The company applies manufacturing overhead on the basis of machine hours based on practical capacity Budgeted overhead and machine activity for the year were anticipated to be $ and hours, respectively. b The company worked on four jobs during the first quarter. Direct materials used, direct labor incurred, and machine hours consumed were as follows: c Manufacturing overhead during the first quarter included charges for depreciation $ indirect labor $ indirect materials used $ and other factory costs $ d Stellar Sound completed job no and job no Job no was sold on account, producing a profit of $ for the firm. Prepare journal entries as of March to record the following. Note: Use summary entries where appropriate by combining individual job data.If no entry is requlred for o tronsoctlonevent select No journol entry required" In the first account fleld. Do not round Intermedlate calculatlons. a The issuance of direct material to production and the direct labor incurred. b The manufacturing overhead incurred during the quarter. c The application of manufacturing overhead to production. d The completion of jobs no and no e The sale of job no
Required Information
The following information applies to the questions displayed below.
Stellar Sound, Inc., which uses a joborder costing system, had two jobs in process at the start of : job no$
and job no$ The following information is available:
a The company applies manufacturing overhead on the basis of machine hours based on practical capacity Budgeted
overhead and machine activity for the year were anticipated to be $ and hours, respectively.
b The company worked on four jobs during the first quarter. Direct materials used, direct labor incurred, and machine
hours consumed were as follows:
c Manufacturing overhead during the first quarter included charges for depreciation $ indirect labor $
indirect materials used $ and other factory costs $
d Stellar Sound completed job no and job no Job no was sold on account, producing a profit of $ for
the firm.
Prepare journal entries as of March to record the following. Note: Use summary entries where appropriate by combining
individual job data.If no entry is requlred for o tronsoctlonevent select No journol entry required" In the first account fleld. Do
not round Intermedlate calculatlons.
a The issuance of direct material to production and the direct labor incurred.
b The manufacturing overhead incurred during the quarter.
c The application of manufacturing overhead to production.
d The completion of jobs no and no
e The sale of job no
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