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Question 2 3 pts Please keep track of your work
Question 2 3 pts Please keep track of your work. Wowza Corporation manufactures party supplies and use a predetermined overhead. The CFO has estimated total manufacturing costs to be $108,500 and the activity driver is direct labor hours which are estimated to be 62,000 hours. The following beginning balances are below: Work in Process $ 19,800 Finished Goods $ 37,100 Prepare the journal entry: Raw materials were requisitioned; direct materials were 75% of the total $121,800. HTML Editora B 1 U AATE VX AV D TTT 12pt Paragraph
Question 1 3 pts Please keep track of your work. Wowza Corporation manufactures party supplies and use a predetermined overhead. The CFO has estimated total manufacturing costs to be $108,500 and the activity driver is direct labor hours which are estimated to be 62,000 hours. The following beginning balances are below: Work in Process $ 19,800 Finished Goods $ 37,100 Prepare the journal entry: Raw materials purchased were $134,700 and put on account. HTML Editora B 1 U ? ? Tx Ex? VX CV TT 12pt Paragraph
Question 3 3 pts Please keep track of your work. Wowza Corporation manufactures party supplies and use a predetermined overhead. The CFO has estimated total manufacturing costs to be $108,500 and the activity driver is direct labor hours which are estimated to be 62,000 hours. The following beginning balances are below: Work in Process $ 19,800 Finished Goods $ 37,100 Prepare the journal entry: Rent expense was paid in the amount of $37,600; the factory allocation is 45%. HTML Editor B 1 IC AA TX E 31 1 VCA V DT 12pt Paragraph
Expert Solution
| date | particulars | LF | debit | credit |
| 1 | work in process | 19800 | ||
| row material inventory | 19800 | |||
| 2 | finished goods inventory | 19800 | ||
|
work in process (transfer of work in process to finished goods) |
19800 | |||
| 3 |
rent paid |
16920 | ||
|
factory payroll (37600*45/100) |
16920 | |||
| 4 | cost of goods sold | 56900 |
|
finished goods (37100+19800) |
56900 |
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