For the current year, Quark estimated that it would work 100,000 direct labor-hours and incur $20,000,000 of manufacturing overhead cost. The following summarized information relates to January of the current year. The raw materials purchased include both direct and indirect materials.

Quark Spy Equipment manufactures espionage equipment. Quark uses a job-order cost system and applies overhead to jobs the basis of direct labor-hours. For the current year, Quark estimated that it would work 100,000 direct labor-hours and incur $20,000,000 of manufacturing overhead cost. The following summarized information relates to January of the current year. The raw materials purchased include both direct and indirect materials.

Raw materials purchased on account…………………………………………………. $1,412,000
Direct materials requisitioned into production………………………………………… 1,299,500
Indirect materials requisitioned into production………………………………………. 98,000
Direct labor cost (7,900 hours @$40 per hour)………………………………………. 316,000
Indirect labor cost (10,200 hours @ $16 per hour)…………………………………… 163,200
Depreciation on the factory building…………………………………………………… 190,500
Depreciation on the factory equipment………………………………………………… 890,700
Utilities for the factory……………………………………………………………………. 79,600
Cost of jobs finished……………………………………………………………………… 2,494,200
Cost of jobs sold………………………………………………………………………….. 2,380,000
Sales (all on account)……………………………………………………………………. 3,570,000

Prepare journal entries to record Quark’s transaction for the month of January. Do not close out the manufacturing overhead account.

Calculate your order
275 words
Total price: $0.00

Top-quality papers guaranteed

54

100% original papers

We sell only unique pieces of writing completed according to your demands.

54

Confidential service

We use security encryption to keep your personal data protected.

54

Money-back guarantee

We can give your money back if something goes wrong with your order.

Enjoy the free features we offer to everyone

  1. Title page

    Get a free title page formatted according to the specifics of your particular style.

  2. Custom formatting

    Request us to use APA, MLA, Harvard, Chicago, or any other style for your essay.

  3. Bibliography page

    Don’t pay extra for a list of references that perfectly fits your academic needs.

  4. 24/7 support assistance

    Ask us a question anytime you need to—we don’t charge extra for supporting you!

Calculate how much your essay costs

Type of paper
Academic level
Deadline
550 words

How to place an order

  • Choose the number of pages, your academic level, and deadline
  • Push the orange button
  • Give instructions for your paper
  • Pay with PayPal or a credit card
  • Track the progress of your order
  • Approve and enjoy your custom paper

Ask experts to write you a cheap essay of excellent quality

Place an order

Order your essay today and save 7% with the discount code DISSERT7