Shellenback Inc

question 91

Essay

Shellenback Inc.has provided the following information for the year ended 20x8:
a.Purchased raw materials on account for $200,000.
b.Issued $185,000 in raw materials to production ($12,000 were not traceable to specific jobs).
c.Incurred $155,000 in direct labor costs (14,750 hours),$52,500 in supervision costs (paid in cash).
d.Incurred the following additional manufacturing overhead costs: factory lease $22,000 (paid in cash);depreciation on equipment $26,000;factory utilities $13,500 (paid in cash).
e.Incurred the following nonmanufacturing costs,both paid in cash: advertising $55,000;sales commissions $58,000.
f.Applied manufacturing overhead to jobs in process at a rate of $9 per direct labor hour.
g.Completed jobs costing a total of $457,000.
h.Sold jobs for $735,000 on account.The cost of the jobs was $441,000.
i.Closed the manufacturing overhead account balance.
Prepare the journal entries to record these transactions.

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Definitions:

Species

A group of living organisms consisting of similar individuals capable of exchanging genes or interbreeding.

Competitive Exclusion

Process whereby two species compete for a limiting resource, and one drives the other to local extinction.

Same Niche

The scenario where two or more species occupy the same environmental niche, competing for identical resources.

Larger Species

Species characterized by larger body sizes in comparison to related species or within a defined context of study.