Answered

Welcome to Westonci.ca, the ultimate question and answer platform. Get expert answers to your questions quickly and accurately. Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

Warner Company purchases $50,100 of raw materials on account, and it incurs $61,000 of factory labor costs. Supporting records show that (a) the Assembly Department used $24,100 of the raw materials and $36,000 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs.
Journalize the assignment of overhead to the Assembly and Finishing Departments.
Account Titles and Explanation Debit Credit

Sagot :

Tundexi

Answer:

Date   Account Titles and Explanation        Debit         Credit

           WIP - Assembly department             $57,600

           WIP - Finishing department               $40,000

                    Manufacturing overhead                             $97,600

           (To assign overheads to assembly and finishing department)

Explanation:

Labor cost assigned to assembly = $36,000

Labor cost assigned to finishing = $61,000 - $36,000 = $25000

Manufacturing cost assigned to assembly = $36,000 *160% = $57600

Manufacturing cost assigned to finishing = $25000 * 160% = $40000

Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.