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  • Prepare The Journal Entries Needed Based On The Information

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    Doreen
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    This document provides financial information to prepare journal entries for overhead costs, materials purchased and used in production, direct labor costs, and the completion and sale of jobs. It includes estimated overhead for the month, direct labor hours and costs, materials purchased and requisitioned for production, actual overhead costs incurred, the costs and selling prices of completed jobs, and the applied overhead amount.

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    Prepare the Journal Entries Needed Based on the Information

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    This document provides financial information to prepare journal entries for overhead costs, materials purchased and used in production, direct labor costs, and the completion and sale of jobs. It includes estimated overhead for the month, direct labor hours and costs, materials purchased and requisitioned for production, actual overhead costs incurred, the costs and selling prices of completed jobs, and the applied overhead amount.

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    © All Rights Reserved
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    10 views2 pages

    Prepare The Journal Entries Needed Based On The Information

    Uploaded by

    Doreen
    This document provides financial information to prepare journal entries for overhead costs, materials purchased and used in production, direct labor costs, and the completion and sale of jobs. It includes estimated overhead for the month, direct labor hours and costs, materials purchased and requisitioned for production, actual overhead costs incurred, the costs and selling prices of completed jobs, and the applied overhead amount.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Prepare the journal entries needed based on the

    information
    Prepare the journal entries needed based on the information

    Question

    Prepare the journal entries needed based on the information below. Use Lesson 4 page 6 to
    assis
    GET THE ANSWER>> https://solutionlly.com/downloads/prepare-the-journal-entries-needed-
    based-on-the-information
    Prepare the journal entries needed based on the information

    Question

    Prepare the journal entries needed based on the information below. Use Lesson 4 page 6 to
    assist you.

    Estimated Overhead for the month: $10,000


    Estimated Direct Labor Hours: 10,000
    Purchased $25,000 of materials
    Requisitioned $20,500 of materials to be placed into production
    Incurred $14,500 of Direct Labor during the month (1450 hours)
    Incurred the following Actual Factory Overhead Amounts:
    Utilities: 7000
    Indirect Materials: 500
    Indirect Labor: 1000
    Rent: 1000
    Completed 2 jobs with a cost of $10,900
    Sold both jobs completed at a price = cost + 50%
    Applied Overhead is $9,600

    Prepare the journal entries needed based on the information

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