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Home Q & A Board Other Fields Homework Help Business Accounting
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eennuson eennuson
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A year ago
The following information has been gathered by the controller of Acme Industries.

Direct MaterialsAQ × APAQ × SPSQ × SP
$650,000$680,000$670,000
Direct LaborAQ × APAQ × SPSQ × SP
$635,000$630,000$637,000
Variable OverheadActualAQ × SPSQ × SP
$560,000$557,000$562,000
Fixed OverheadActualStatic BudgetSQ × SP
$780,000$810,000$815,000

Required:

Using standard costing, prepare the following journal entries.
a.Purchase of direct materials on account
b.Transfer of direct materials into production
c.Recording of payroll
d.Payment for variable overhead
e.Application of variable overhead to work in process
f.Recording of variable overhead variances
g.Application of fixed overhead to work in process
h.Payment of fixed overhead
i.Recording of fixed overhead variances
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Managerial Accounting

Managerial Accounting


Edition: 4th
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eminemluvr87eminemluvr87
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A year ago
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