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Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories

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Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories…. 1 answer below » Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): View complete question » Estimated total fixed manufacturing overhead $ 10,000 Estimated variable manufacturing Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead $ 10,000 Estimated variable manufacturing overhead per direct labor-hour $ 1.00 Estimated total direct labor-hours to be worked 2,000 Total actual manufacturing overhead costs incurred $ 12,500 Job P Job Q Direct materials $ 13,000 $ 8,000 Direct labor cost $ 21,000 $ 7,500 Actual direct labor-hours worked 1,400 500 Required: Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Prepare the journal entries to record raw materials purchases and the issuance of direct materials for use in production. General Journal Debit Credit (Click to select)Raw materialsWages receivableWages payableAccounts receivableAccounts payableRent payableManufacturing overheadSalaries expense (Click to select)Salaries expenseWages receivableWages payableRaw materialsRent payableAccounts receivableManufacturing overheadAccounts payable (Click to select)Wages payableAccounts payableAccounts receivableSalaries expenseRent expenseWork in processWages receivableManufacturing overhead (Click to select)Accounts receivableManufacturing overheadSalaries expenseWages receivableAccounts payableRaw materialsWork in processWages payable View less » Oct 27 2013 06:15 AM


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