ACCT 344 Week 1 Homework

ACCT 344 Week 1 Homework
1 Question Able Corporation incurred the following costs………………. Calculate the following.
a Direct materials used
b. Cost of goods manufactured
c. Cost of goods sold
d. Operating income
2. Question: Below is information from Job Card 506 for the Bearing Manufacturing Company…………….Required: 
a. Prepare the journal entries to record the costs incurred for Job 506 in 2015 for direct materials, direct labor, and factory overhead.
b. Prepare the journal entry to record the completion of Job 506.
c. What is the predetermined factory overhead rate for Bearing Manufacturing?
d. Prepare the journal entries to record the sale of Job 506.

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