Problem 1: During March 2019, Alaska Corporation recorded $251,000 of costs related to factory overhead. Alaska's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $250,000 would be incurred, and 12,500 direct labor hours would be worked. During March, 12,400 hours were actually worked. Use this information to determine the amount of overhead over or under applied. Enter over applied overhead as a negative number.
Problem 2: On March 31, 2019, Dorchester Corporation recorded the following factory overhead costs incurred:
Factory Manager Salary $5,500
Factory Utilities 2,800
Machinery Deprecation 9,000
Machinery Repairs 1,800
Factory Rent 2,000
The overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $22,000 would be incurred, and 2,000 direct labor hours would be worked. During March, 650 hours were actually worked on Job Order 3-1 and 1,200 hours were actually worked on Job Order 3-2. Use this information to prepare the March 31 General Journal entries, without explanations, for the:
1. To record the factory overhead costs
2. The allocation of factory overhead to Job Order 3-1
3. The allocation of factory overhead to Job Order 3-2
4. The adjusting entry to dispose of any over or under application of factory overhead
Problem 3: March 1, 201, Dorchester Company's beginning work in process inventory had 10,000 units. This is its only production department. Beginning WIP units were 50% completed as to conversion costs. Dorchester introduces direct materials at the beginning of the production process. During March, all beginning WIP was completed and an additional 21,500 units were started and completed. Dorchester also started but did not complete 8,500 units. These units remained in ending WIP inventory and were 70% completed as to conversion costs. Dorchester uses the weighted average method. Use this information to determine for March 2019 the equivalent units of production for conversion costs.
Need a skilled and talented tutor, who can assist you in completing your university assignment tasks? Get in touch with the professionals of our General Journal Entries Assignment Help service and forget about all your academic related worries.
Tags: General Journal Entries Assignment Help, General Journal Entries Homework Help, General Journal Entries Coursework, General Journal Entries Solved Assignments, Conversion Costs Assignment Help, Conversion Costs Homework Help