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Question 5 3 pts Please keep track of your work

Accounting Sep 14, 2020

Question 5 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: The utilities were paid for the month - $16,000; the administrative allocation is 27%. HTML Editor mit B 1 0 A A A = = = E E x x = = VX VDT 12pt Paragraph
u Question 4 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 Finished Goods 19,800 37,100 $ Prepare the journal entry: Depreciation for the year was $48,000; the factory allocation is 86%; the remainder is allocated to the administrative department. HTML Editora Β Ι Ο Α ν Α Ι Ξ Ξ Ξ 1x AV XXE TTT 12pt Paragraph
Question 6 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: The factory labor expense is $87,000 and the direct labor hours worked were 68,000. The factory supervisor's salary is $27,400 and the administrative payroll is $102,000. HTML Editora B I 9 A A A = = = = = x x = = VX C T TH 12pt Paragraph

Expert Solution

Answer-5: Journal Entry for Utilities: Account Title Debit ($) Credit ($) Manufacturing overhead ($16,000 × 73%) 11,680 Utilities expense ($16,000 × 27%) 4,320 Cash 16,000 Answer-4: Journal Entry: Account Title Debit ($) Credit ($) Manufacturing overhead ($48,000 × 86%) 41,280 Depreciation expense ($48,000 × 14%) 6,720 Accumulated depreciation 48,000 Answer-6: Journal Entry: Account Title Debit ($) Credit ($) Work-in-process 87,000 Salaries and wages payable 87,000 Manufacturing overhead 27,400 Administrative salary expense 102,000 Salaries and wages payable 129,400
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