Ex 5-16 Name:
Overhead Control Work in process
Beg. Bal.
– –
1)
a)
b)
c)
d)
e)
f)
g)
2. a. Materials
b. Work-in-Process
c. Overhead
d. Finished Goods
Record the journal entries below. Use the pull-down lists to select accounts. Enter the
amounts
Journal Entries
Ex 5-16 Name:
Overhead Control Work in process
Beg. Bal. 3,400
40,990
22,400
9,020 8,800
8,800 58,000
220 17,590
1)
a) 45,670
45,670
b) 40,990
40,990
2. a. Materials 5,880$
SOLUTION
Materials
Work-in-Process
Journal Entries
Accounts Payable
Record the journal entries below. Use the pull-down lists to select accounts. Enter the
amounts
Materials
Finished Goods
Finished Goods
Accounts Receivable
Cost of Goods Sold
Work-in-Process
Sales
Cash
Overhead
Work-in-Process
Work-in-Process
Overhead
Wages Payable
Ex 5-20 Name:
1)
Engineering design rate
Overhead rate = Estimated overhead = =
Estimated engineering hrs
Purchasing rate
Overhead rate = Estimated overhead = =
Estimated machine hrs
Other overhead rate
Overhead rate = Estimated overhead = =
Direct labor hrs
2)
Amount Hours Rate Amount Rate Activity Amount
–$
Balance, March 1 34,500$
Direct Materials
Direct Labor –
Overhead
Total cost 34,500$
Amount Hours Rate Amount Rate Activity Amount
–$
Balance, March 1 39,890$
Direct Materials
Direct Labor –
Overhead
Total cost 39,890$
Amount Hours Rate Amount Rate Activity Amount
–$
SOLUTION
Predetermined overhead rates
JOB-ORDER COST SHEET
Job 15
DIRECT MATERIALS
DIRECT LABOR
OVERHEAD
Req. No.
Ticket
COST SUMMARY
JOB-ORDER COST SHEET
Job 16
DIRECT MATERIALS
DIRECT LABOR
OVERHEAD
Req. No.
Ticket
COST SUMMARY
JOB-ORDER COST SHEET
Job 17
DIRECT MATERIALS
DIRECT LABOR
OVERHEAD
Req. No.
Ticket
Balance, March 1 24,090$
Direct Materials
Direct Labor –
Overhead
Total cost 24,090$
Amount Hours Rate Amount Rate Activity Amount
–$
Balance, March 1 –$
Direct Materials
Direct Labor –
Overhead
Total cost –$
Amount Hours Rate Amount Rate Activity Amount
–$
Balance, March 1 –$
Direct Materials
Direct Labor –
Overhead
Total cost –$
3) & 4).
Enter the ending balances in cells F117 and F118. Enter ending balances in cells J117, J118 and J119.
Work in Process Cost of Goods Sold
Ending Balance Ending Balance
Total –$
Total –$
COST SUMMARY
JOB-ORDER COST SHEET
Job 18
DIRECT MATERIALS
DIRECT LABOR
OVERHEAD
Req. No.
Ticket
COST SUMMARY
JOB-ORDER COST SHEET
Job 19
DIRECT MATERIALS
DIRECT LABOR
OVERHEAD
COST SUMMARY
Req. No.
Ticket
Ex 5-20
Name:
1)
Engineering design rate
Overhead rate = Estimated overhead = 156,000$ = 130.00$ per EH
Estimated engineering hrs 1,200
2)
Amount Hours Rate Amount Rate Activity Amount
$28,000 $10,000 130.00$ 20 2,600$
12.50$ 150 1,875
Amount Hours Rate Amount Rate Activity Amount
$37,900 $8,500 130.00$ 14 1,820$
12.50$ 180 2,250
Amount Hours Rate Amount Rate Activity Amount
$25,350 $23,000 130.00$ 35 4,550$
12.50$ 200 2,500
Req. No.
Ticket
JOB-ORDER COST SHEET
JOB-ORDER COST SHEET
Job 16
DIRECT MATERIALS
DIRECT LABOR
OVERHEAD
Predetermined overhead rates
Job 17
DIRECT MATERIALS
DIRECT LABOR
OVERHEAD
JOB-ORDER COST SHEET
Req. No.
Ticket
SOLUTION
Job 15
OVERHEAD
Ticket
Req. No.
DIRECT MATERIALS
DIRECT LABOR
Amount Hours Rate Amount Rate Activity Amount
$11,000 $12,900 130.00$ 8 1,040$
12.50$ 500 6,250
Amount Hours Rate Amount Rate Activity Amount
$13,560 $8,000 130.00$ 15 1,950$
12.50$ 300 3,750
3) & 4).
Enter the ending balances in cells F117 and F118. Enter ending balances in cells J117, J118 and J119.
Work in Process Cost of Goods Sold
Ending Balance Ending Balance
38,498$ 82,435$
Req. No.
Ticket
Job 19
DIRECT MATERIALS
DIRECT LABOR
OVERHEAD
JOB-ORDER COST SHEET
Req. No.
Ticket
Job 18
DIRECT MATERIALS
DIRECT LABOR
OVERHEAD
JOB-ORDER COST SHEET
Prob 5-26
Enter the journal entries for items a) through l). Use the pull-down menus on the
cells to select the accounts.
a)
b)
c)
d)
e)
f)
g)
h)
i)
j)
k)
l)
2). T-Accounts
Post relevant information from journal entries
above to appropriate t-accounts.
Journal Entries
Beg. Bal.
–
–
Beg. Bal.
–
Beg. Bal.
–
3).
Direct materials
Direct labor
Overhead:
Supplies
Indirect labor
Depreciation, plant and equipment
Property taxes
Utilities, factory
Insurance
–$
Plus: Overapplied overhead
Overhead applied –
Manufacturing costs added –$
Add: beginning work in process
Less: ending work in process
Cost of goods manufactured –$
For the Month Ended May 31, 20XX
Materials Inventory
Overhead Control
Work in Process
Finished Goods
Jerico Company
Schedule of Cost of Goods Manufactured
Wages Payable
Selling Expense
Accumulated Depreciation
Overhead Control
Overhead Control
Property Tax Expense
Work-in-Process Inventory
Selling Expense
Accumulated Depreciation
Selling Expense
Administrative Expense
Advertising Payable
Work-in-Process Inventory
Overhead Control
Administrative Expense
Legal Fees Payable
Prob 5-26
Enter the journal entries for items a) through l). Use the pull-down menus on the
cells to select the accounts.
a) 60,100
60,100
c) 75,000
36,000
28,000
f) 6,200
6,200
g) 5,500
5,500
2). T-Accounts
Post relevant information from journal entries
above to appropriate t-accounts.
Overhead Control
Prepaid Insurance
Administrative Expense
Journal Entries
Work-in-Process Inventory
Overhead Control
Materials Inventory
Accounts Payable
Overhead Control
Utilities Payable
Work-in-Process Inventory
Overhead Control
Materials Inventory
Beg. Bal. 7,500
8,800 72,000
36,000 10,400 1,450 6,200 5,500 3,650
Beg. Bal. 37,000
Beg. Bal. 50,000
50,000 ######
3).
Direct materials 50,000$
Direct labor 75,000
Overhead:
Supplies 8,800$
Indirect labor 36,000
Depreciation, plant and equipment 10,400
Property taxes 1,450
For the Month Ended May 31, 20XX
Overhead Control
Work in Process
Jerico Company
Materials Inventory
Schedule of Cost of Goods Manufactured