CH02 – A Company’s Factory Overhead Account
Managerial Accounting
Wild and Shaw
07th Edition
Determine whether over or underapplied overhead. Prepare the journal entry to close.
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Determine whether over or underapplied overhead. Prepare the journal entry to close.
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What is the total estimated cost for this job?
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Prepare a schedule of cost of goods manufactured, gross profit, and inventory balances on Balance Sheet.
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Determine total of each production cost incurred for April (direct labor, direct materials, and applied overhead). Fill in a large grid.
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Prepare 13 journal entries for the month concerning materials, direct labor, overhead, WIP, FG, and Sales.
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Prepare the production department’s equivalent units of production.
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Saving for a boat. Asks how much is in the account after several years.
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Prepare journal entries, adjusting entries, adjusted trial balance, income statement, balance sheet, statement of stockholders equity, balance sheet, closing entries, post-close trial balance.
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Prepare journal entries, partial balance sheets, evaluate the allowance of uncollectables, create a partial income statement with sales revenues, cost of goods sold, and gross profit. Calculate cost of goods sold and ending inventory using FIFO.
Then, using information about the net realizable value, reestimate the partial income statement and balance sheets. Finally, create a depreciation schedule showing depreciation and book values and record adjusting entries for depreciation and insurance.
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Record each transaction, and prepare the shareholders’ equity section of the balance sheet, Prepare the statement of cash flows using the indirect method, and calculate risk ratios and profitability ratios for 2022.
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