Question Details

(Solved) (Latest ver. Aug 2020) - Journaling-Sanchez Manufacturing

Brief item decscription


Item details:

Question:

1) Sanchez Manufacturing purchases $45,000 of raw materials on account, and it incurs $50,000 of factory labor costs. Journalize the two transactions on March 31 assuming the labor costs are not paid until April.

Hint: Journalize entries for accumulating costs.

2) Data for Sanchez Manufacturing are given in 1. Supporting records show that (a) the Assembly Department used $24,000 of raw materials and $30,000 of the factory labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31.

Hint: Journalize the assignment of materials and labor costs.
1) For the quarter ended March 31, 2010, Voorhees Company accumulates the following sales data for its product, Garden-Tools: $310,000 budget; $304,000 actual. Prepare a static budget report for the quarter.

Hint: Prepare static budget report.

2) Data for Voorhees Company are given in 1. In the second quarter, budgeted sales were $380,000, and actual sales were $383,000. Prepare a static budget report for the second quarter and for the year to date.

Hint: Prepare static budget report for 2 quarters.

 







About this question:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Sep 16, 2020

PRICE: $11.5

Solution~00010503.zip (18.37 KB)

Buy this answer for only: $11.5

Pay using PayPal (No PayPal account Required) or your credit card. All your purchases are securely protected by PayPal.
SiteLock

Need a similar solution fast, written anew from scratch? Place your own custom order

We have top-notch tutors who can help you with your essay at a reasonable cost and then you can simply use that essay as a template to build your own arguments. This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student. New solution orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

Order Now