A job cost sheet of Cullumber Company is given below.Job Cost SheetJOB NO.469Quantity2,500ITEMWhite Lion CagesDate Requested7/2FORTodd CompanyDate Completed7/31DirectMaterialsDirectLaborManufacturingOverheadDate7/10700129001540050022300375241,675271,57531500625Cost of completed job:Direct materialsDirect laborManufacturing overheadTotal cost(1) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job?Source DocumentsDirect materialsDirect laborManufacturing overhead(2) Overhead is applied on the basis of direct labor cost. What is the predetermined manufacturing overhead rate?Predetermined manufacturing overhead rate%(3) What are the total cost and the unit cost of the completed job? (Round unit cost to 2 decimal places, e.g. 1.25.)Total cost of the completed job$Unit cost of the completed job$

Understanding the Job Cost Sheet CalculationThe job cost sheet consists of three main cost…

Answered: A job cost sheet of Cullumber Company…

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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A job cost sheet of Wildhorse Company is given below. Job Cost Sheet JORNO White Lion C Date Requested 42 FOR Told Company Date Completed Date Direct Materials Direct Manufacturing Labor Overhead 7/10 200 600 730 400 480 1700 1520 31 500 600 Cost of completed job Direct materials Direct labor Manufacturing overhead Total cost Unit cost (a) Your answer is correct Answer the following questiona. (1) What are the source documents for direct maten als direct labor, and manufacturing overhead costs assigned to this job? Source Documents Direct material Direct labar Manufacturing (2) Overhead is applied on the basis of direct tabar cost. What is the predetermined manufacturing overhead rate! termined manufacturing overhead cate 120 31 What are the total cost and the unit cost of the completed job Round unitat o 2 decimal places, eg 125 Total cost of the completed job 120 Unit cost of the completed job S 14006 Textbook and Media List of Accounts Prepare the salty to record the soniction…
A job cost sheet of Bonita Company is given here. JOB NO. ITEM FOR Date 7/10 12 15 22 24 27 31 469 White Lion Cages Todd Company. Direct Materials $700 900 1,610 Job Cost Sheet 1,510 Quantity Date Requested Date Completed Direct Labor $480 300 500 2,500 7/2 7/31 Manufacturing Overhead $600 375 625
A job cost sheet of Sunland Company is given below. JOB NO. ITEM FOR Date 7/10 12 15 22 24 27 31 469 Total cost Unit cost White Lion Cages Todd Company Direct Materials 700 900 Cost of completed job: Direct materials Direct labor 1,675 1,525 Manufacturing overhead Job Cost Sheet Quantity Date Requested Date Completed Direct Labor 500 300 700 2,500 7/2 7/31 Manufacturing Overhead 625 375 875
A summary of material requisition slips and time tickets, along with the overhead allocation, show the following costs: Job No. MaterialRequisitionSlips FactoryLaborTimeTickets OverheadApplied 131 $505 $200 $80 132 235 260 104 133 380 160 64 134 325 320 128 Not job specific 60 160 0 $1,505 $1,100 $376 A. Prepare an entry to record the assignment of direct material to work in process. If an amount box does not require an entry, leave it blank. fill in the blank d3b310090003fc9_2 fill in the blank d3b310090003fc9_3 fill in the blank d3b310090003fc9_5 fill in the blank d3b310090003fc9_6 B. Prepare an entry to record the assignment of direct labor to work in process. If an amount box does not require an entry, leave it blank. fill in the blank 26a436ff9fa5f86_2 fill in the blank 26a436ff9fa5f86_3 fill in the blank 26a436ff9fa5f86_5 fill in the…
A job cost sheet of Oriole Company is given below. JOB NO. ITEM FOR Date 7/10 12 15 (a) 22 24 27 31 Total cost Unit cost 469 White Lion Cages Todd Company Direct Materials Cost of completed job: Direct materials Direct labor Manufacturing overhead Direct materials Direct labor 700 900 1,640 1,560 Job Cost Sheet Manufacturing overhead Date Requested Date Completed. Quantity Direct Labor Total cost of the completed job $ Unit cost of the completed job 400 300 Answer the following questions. (1) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job? $ 700 Predetermined manufacturing overhead rate 2,000 7/2 7/31 Manufacturing Overhead Source Documents 480 (2) Overhead is applied on the basis of direct labor cost. What is the predetermined manufacturing overhead rate? 360 840 (3) What are the total cost and the unit cost of the completed job? (Round unit cost to 2 decimal places, e.g. 1.25.) %
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For the year ended December 31, 2022, the job cost sheets of Blossom Company contained the following data. JobNumber Explanation DirectMaterials DirectLabor ManufacturingOverhead TotalCosts 7640 Balance 1/1 $20,000 $19,200 $23,040 $62,240 Current year’s costs 24,000 28,800 34,560 87,360 7641 Balance 1/1 8,800 14,400 17,280 40,480 Current year’s costs 34,400 38,400 46,080 118,880 7642 Current year’s costs 46,400 44,000 52,800 143,200 Other data: 1. Raw materials inventory totaled $12,000 on January 1. During the year, $112,000 of raw materials were purchased on account. 2. Finished goods on January 1 consisted of Job No. 7638 for $69,600 and Job No. 7639 for $73,600. 3. Job No. 7640 and Job No. 7641 were completed during the year. 4. Job Nos. 7638, 7639, and 7641 were sold on account for $424,000. 5. Manufacturing overhead incurred on account totaled…
For the year ended December 31, 2022, the job cost sheets of Blossom Company contained the following data. JobNumber Explanation DirectMaterials DirectLabor ManufacturingOverhead TotalCosts 7640 Balance 1/1 $20,000 $19,200 $23,040 $62,240 Current year’s costs 24,000 28,800 34,560 87,360 7641 Balance 1/1 8,800 14,400 17,280 40,480 Current year’s costs 34,400 38,400 46,080 118,880 7642 Current year’s costs 46,400 44,000 52,800 143,200 Other data: 1. Raw materials inventory totaled $12,000 on January 1. During the year, $112,000 of raw materials were purchased on account. 2. Finished goods on January 1 consisted of Job No. 7638 for $69,600 and Job No. 7639 for $73,600. 3. Job No. 7640 and Job No. 7641 were completed during the year. 4. Job Nos. 7638, 7639, and 7641 were sold on account for $424,000. 5. Manufacturing overhead incurred on account totaled…
account with the job cost sheets. (Use a T-account.) ce a job cost sheet epare entries for acturing costs. E2-3 A job order cost sheet for Lowry Company is shown below. 3, 4, 5), AP Job No. 92 For 2,000 Units Direct Materials Direct Labor Manufacturing Overhead Date Beg. bal. Jan. 1 5,100 5,000 6,000 6,000 8 12 8,000 6,400 25 2,000 27 4,000 3,200 13,000 18,000 14,700 Cost of completed job: Direct materials Direct labor Manufacturing overhead $13,000 18,000 14,700 Total cost $45,700 Unit cost ($45,700 2,000) $22.85 Instructions (a) D On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job? (2) If manufacturing overhead is applied on the basis of direct labor cost, what over- head rate was used in each year? (b) Prepare summary entries at January 31 to record the current year's transactions per- taining to Job No. 92. focturing cost data for Orlando Company, which uses a job…
Built-Tite uses job order costing. The T-account below summarizes Factory overhead activity for the current year. Factory Overhead Debit Credit 17,500 111,800 26,500 61, 500 1. Compute total applied overhead cost. 2. Compute total actual overhead cost. 3. Compute the underapplied or overapplied overhead. 1. Total applied overhead cost 2. Total actual overhead cost 3.
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Pratice Problem 2: A company's individual job sheets show these costs: A chart showing costs for Jobs 131, 132, and 133. Direct materials is RO 4585, RO 8723, and RO 1575 respectively. Direct labor is RO2385, RO 2498, and RO 2874, respectively. Overhead is applied at 1.25 times the direct labor cost. You are required to : Prepare an entry to record the assignment of direct materials to work in process. Prepare an entry to record the assignment of direct labor to work in process. Prepare an entry to record the assignment of manufacturing overhead to work in process.

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