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European Styles, Inc., manufactures women's blouses of one quality, which are produced in lots to fill each special order. Its customers are department stores in various cities. European Styles sews the particular stores' labels on the blouses. During November, the company worked on three orders, for which the month's job-cost records disclose the following data. Lot Number Boxes in Lot 1,300 2,000 1,500 22 23 24 . Material Used (yards) 26,170 39,490 30,085 The following additional information is available: 1. The firm purchased 98,000 yards of material during November at a cost of $101,500. 2. Direct labor during November amounted to $342,380. According to payroll records, production employees were paid $19.00 per hour. Direct material Direct labor Production overhead Standard cost per box Case 10-49 Part 3 3. There was no work in process on November 1. During November, lots 22 and 23 were completed. All material was issued for lot 24, which was 80 percent completed as to direct labor. 4. The standard costs for a box of six blouses are as follows: Hours Worked 5,160 8,050 4,810 20 yards at 4 hours at 4 hours at $ 1.00 per yard $18.70 per hr. $14.00 per hr. $ 20.00 74.80 56.00 $150.80 3. Prepare journal entries to record each of the following events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar amount.) . Purchase of material. • Incurrence of direct-labor cost. • Addition of direct-material and direct-labor cost to Work-in-Process Inventory. Recording of direct-material and direct-labor variances.

European Styles, Inc., manufactures women's blouses of one quality, which are produced in lots to fill each special order. Its customers are department stores in various cities. European Styles sews the particular stores' labels on the blouses. During November, the company worked on three orders, for which the month's job-cost records disclose the following data. Lot Number Boxes in Lot 1,300 2,000 1,500 22 23 24 . Material Used (yards) 26,170 39,490 30,085 The following additional information is available: 1. The firm purchased 98,000 yards of material during November at a cost of $101,500. 2. Direct labor during November amounted to $342,380. According to payroll records, production employees were paid $19.00 per hour. Direct material Direct labor Production overhead Standard cost per box Case 10-49 Part 3 3. There was no work in process on November 1. During November, lots 22 and 23 were completed. All material was issued for lot 24, which was 80 percent completed as to direct labor. 4. The standard costs for a box of six blouses are as follows: Hours Worked 5,160 8,050 4,810 20 yards at 4 hours at 4 hours at $ 1.00 per yard $18.70 per hr. $14.00 per hr. $ 20.00 74.80 56.00 $150.80 3. Prepare journal entries to record each of the following events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar amount.) . Purchase of material. • Incurrence of direct-labor cost. • Addition of direct-material and direct-labor cost to Work-in-Process Inventory. Recording of direct-material and direct-labor variances.

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter1: Introduction To Cost Accounting
Section: Chapter Questions
Problem 13E: Cycle Specialists manufactures goods on a job order basis. During the month of June, three jobs were...
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. . European Styles, Inc., manufactures women's blouses of one quality, which are produced in lots to fill each special order. Its customers are department stores in various cities. European Styles sews the particular stores' labels on the blouses. During November, the company worked on three orders, for which the month's job-cost records disclose the following data. . Lot Number Boxes in Lot 1,300 2,000 1,500 . 22 23 24 Case 10-49 Part 3 The following additional information is available: 1. The firm purchased 98,000 yards of material during November at a cost of $101,500. 2. Direct labor during November amounted to $342,380. According to payroll records, production employees were paid $19.00 per hour. Direct material Direct labor Material Used (yards) 26,170 39,490 30,085 3. There was no work in process on November 1. During November, lots 22 and 23 were completed. All material was issued for lot 24, which was 80 percent completed as to direct labor. 4. The standard costs for a box of six blouses are as follows: Production overhead Standard cost per box Hours Worked 5,160 8,050 4,810 20 yards at 4 hours at 4 hours at 3. Prepare journal entries to record each of the following events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar amount.) $1.00 per yard $18.70 per hr. $14.00 per hr. $ 20.00 74.80 56.00 $150.80 Purchase of material. Incurrence of direct-labor cost. Addition of direct-material and direct-labor cost to Work-in-Process Inventory. Recording of direct-material and direct-labor variances.
Transcribed Image Text:. . European Styles, Inc., manufactures women's blouses of one quality, which are produced in lots to fill each special order. Its customers are department stores in various cities. European Styles sews the particular stores' labels on the blouses. During November, the company worked on three orders, for which the month's job-cost records disclose the following data. . Lot Number Boxes in Lot 1,300 2,000 1,500 . 22 23 24 Case 10-49 Part 3 The following additional information is available: 1. The firm purchased 98,000 yards of material during November at a cost of $101,500. 2. Direct labor during November amounted to $342,380. According to payroll records, production employees were paid $19.00 per hour. Direct material Direct labor Material Used (yards) 26,170 39,490 30,085 3. There was no work in process on November 1. During November, lots 22 and 23 were completed. All material was issued for lot 24, which was 80 percent completed as to direct labor. 4. The standard costs for a box of six blouses are as follows: Production overhead Standard cost per box Hours Worked 5,160 8,050 4,810 20 yards at 4 hours at 4 hours at 3. Prepare journal entries to record each of the following events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar amount.) $1.00 per yard $18.70 per hr. $14.00 per hr. $ 20.00 74.80 56.00 $150.80 Purchase of material. Incurrence of direct-labor cost. Addition of direct-material and direct-labor cost to Work-in-Process Inventory. Recording of direct-material and direct-labor variances.
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