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Question 2 3 pts Please keep track of your work

Accounting Sep 14, 2020

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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