11.) On March 31, 2019, Dorchester Corporation recorded the following factory overhead costs incurred:Factory Manager Salary$5,500Factory Utilities 2,800Machinery Deprecation 9,000Machinery Repairs 1,800Factory Rent 2,000The overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $22,000 would be incurred, and 2,000 direct labor hours would be worked. During March, 650 hours were actually worked on Job Order 3-1 and 1,200 hours were actually worked on Job Order 3-2. Use this information to prepare the March 31 General Journal entries, without explanations, for the: (round any final dollar answers to the nearest whole dollar):1. to record the factory overhead costs2. the allocation of factory overhead to Job Order 3-13. the allocation of factory overhead to Job Order 3-24. the adjusting entry to dispose of any over or under application of factory overheadGeneral Journal:DateAccountsDebitCredit3/31/19 3/31/19 3/31/19 3/31/19 6.) Annapolis Company manufactures quality boating apparel. The following selected financial information for the fiscal year 2018 is provided:ItemAmountSales$850,000Beginning Raw Material Inventory74,000Direct Material Purchased308,000Factory Overhead90,000Finished Goods Inventory – January 1144,000Work in Process – January 174,000Work in Process – December 3198,000Ending Raw Material Inventory58,000Finished Goods Inventory – December 31168,000Net Income65,000Direct Labor155,000Cost of Goods Sold655,000Use this information to prepared a detailed Schedule of Costs of Goods Manufactured for FY 2018: (Round dollar values & enter as whole dollars only. Properly title your statement.)Schedule of Costs of Goods Manufactured 7.) Alaska Corporation purchased, on account, 6,600 pounds of raw materials at $7.50 per pound on January 2, 2019. The production manager requisitioned and received 2,350 pounds of raw material into production on January 15. Use this information to prepare the General Journal entries (without explanation) for January 2 and January 15. If no entry is required then write ‘No Entry Required.’General Journal:DateAccountsDebitCredit1/1/19 1/15/19 8.) Baltimore Company uses a job order cost system and applies overhead based on estimated rates. The overhead application rate is based on total estimated overhead costs of $280,000 and direct labor hours of 25,000. During the month of February 2019, Job 2-1 incurred direct labor of 450 hours. Use this information to prepare the end of the month application General Journal entry (without explanation) of factory overhead for Job A-1 for the month. If no entry is required then write ‘No Entry Required.General Journal:DateAccountsDebitCredit2/28/19 3.) Annapolis Clothing Company manufactures quality boating attire. The following selected financial information for the fiscal year 2018 is provided:ItemAmountSales$200,000Cost of Goods Manufactured42,000Direct Material Purchased80,000Factory Overhead20,000Work in Process – January 160,000Work in Process – December 3130,000Direct Material – December 3120,000Finished Goods Inventory – December 3154,000Net Income30,000Direct Materials used60,000Cost of Goods Sold67,000Use this information to determine the dollar amount of Annapolis Clothing’s Finished Goods Inventory for January 1, 2018. (Round dollar values & enter as whole dollars only.)
Custom Academic Papers
100% Original, Plagiarism Free, Customized to your instructions!
11.) On March 31, 2019, Dorchester Corporation recorded the
Can't find what you are looking for?
Post your question on solvingessays and get help from one of our expert tutors in topics ranging from mathematics to rocket science!