Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. answer for me coursherotranscribedtext: the sky f

answer for me CoursHeroTranscribedText: The Sky Furniture Company manufactures tables in two production departments...

80.2K

Verified Solution

Question

Accounting

answer for me

image
CoursHeroTranscribedText: The Sky Furniture Company manufactures tables in two production departments Machining and Assembly. In March, 2021 the two production departments had budgeted allocation bases of 4,000 machine-hours in Machining Department and 8,000 direct manufacturing labor-hours in Assembly Department. The budgeted manufacturing overheads for the month were $ 80,000 and $ 48,000, respectively. The actual costs incurred in the two departments to produce Job order number A were as follows: Machining Assembly Direct materials purchased on account $110,000 $150,000 Direct materials used 14,000 16.000 Indirect materials used 7.500 5,000 Direct manufacturing labor 60.000 50,000 Indirect manufacturing labor 11,000 9,000 Lease on equipment 10,000 3,000 Utilities 1,000 2,000 Job A incurred 800 machine-hours in Machining Department and 300 manufacturing labor-hours in Assembly Department. The company uses a budgeted overhead rate for applying overhead to production. Required: a. Determine the budgeted manufacturing overhead rate for each department. b. Prepare the necessary journal entries to summarize the March transactions for Assembly Department C. What is the total cost of Job A

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students