On May 15, the Stamping Department Accepted Job 051507A to Make

question 175

Essay

On May 15, the stamping department accepted Job 051507A to make 1,000 funnels.Materials requisitioned was 1,100 sheets at $1.20 per sheet and 1,150 grommets at $0.15 per set.The cost driver used by stamping department is the drop-forge strokes indicated by a machine mounted counter.Overhead is applied at $2.25 for each drop-forge stroke.Additionally, $375.00 of overhead is applied to each job due to setup and tear down.Direct labor is applied at $22.50 per hour for the machine operator and $11.10 for the machine loader.The job required 6.5 hours of labor.
Upon completion, the job was transferred to Finished Goods Inventory.Journalize all events as of May 15.

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Definitions:

Law Merchant

Rules developed by the merchant guilds and the source of common law relating to negotiable instruments such as cheques and promissory notes.

War-Crimes Trials

Legal proceedings conducted to prosecute individuals accused of violating laws and customs of war.

Natural Law

A philosophical theory that posits the existence of a set of laws of nature that are inherent and universal.

Legal Positivism

A school of thought in law that holds that the validity of a law is not related to its morality but on its sources and promulgation.