2. Darden Manufacturing uses a job order cost accounting system. Un Ap Process Inventory of $7,600 and two jobs in process: Job No. 221, $3,600, and Job No. 222, $4,000. During April, a summary of source documents reveals the following: Job # Materials Requisition Slips Labor Time Tickets 221 222 223 224 General use Totals $2,200 1,700 2,400 2,100 600 $9,000 S 3,600 3,200 2,900 2,800 400 $12,900 Darden applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 221 is completed during the month. Instructions (a) Prepare summary journal entries to record the raw materials requisitioned, factory labor used, the application of manufacturing overhead to jobs, and the completion of Job No. 221. (b) Calculate the balance of the Work in Process Inventory account at April 30.

2. Darden Manufacturing uses a job order cost accounting system. Un Ap Process Inventory of $7,600 and two jobs in process: Job No. 221, $3,600, and Job No. 222, $4,000. During April, a summary of source documents reveals the following: Job # Materials Requisition Slips Labor Time Tickets 221 222 223 224 General use Totals $2,200 1,700 2,400 2,100 600 $9,000 S 3,600 3,200 2,900 2,800 400 $12,900 Darden applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 221 is completed during the month. Instructions (a) Prepare summary journal entries to record the raw materials requisitioned, factory labor used, the application of manufacturing overhead to jobs, and the completion of Job No. 221. (b) Calculate the balance of the Work in Process Inventory account at April 30.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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