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Author Question: The supplies account had a beginning balance of 1,750 . Supplies purchased during the period totaled ... (Read 657 times)

formula1

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on: Jul 5, 2018
The supplies account had a beginning balance of 1,750 . Supplies purchased during the period totaled 3,500 . At the end of the period before adjustment, 350 of supplies were on hand. Prepare the adjusting entry for supplies.

Question 2

Assume a traditional costing system applies the overhead costs based on direct labor hours. What is the total amount of overhead costs assigned to the standard model?
 
  Comfort Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost information has been compiled:
 
   Number of Number of Number of
  Product Setups Components Direct Labor Hours
  Standard 12 8 255
  Deluxe 28 12 245
 
  Overhead costs 52,000 78,000
 
  A) 65,700
  B) 63,600
  C) 66,300
  D) 66,700


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stanleka1

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Reply #1 on: Jul 5, 2018
Answer to Question 1

1,750 + 3,500  350 = 4,900

Supplies Expense 4,900
Supplies 4,900

Answer to Question 2

Answer: C


formula1

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

Joy Chen

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Reply 3 on: Yesterday
Excellent

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