A job cost sheet of Wildhorse Company is given below.Job Cost SheetJORNOWhite Lion CDate Requested42FORTold CompanyDate CompletedDateDirectMaterialsDirectManufacturingLaborOverhead7/102006007304004801700152031500600Cost of completed jobDirect materialsDirect laborManufacturing overheadTotal costUnit cost(a)Your answer is correctAnswer the following questiona.(1) What are the source documents for direct maten als direct labor, and manufacturing overhead costs assigned to this job?Source DocumentsDirect materialDirect labarManufacturing(2) Overhead is applied on the basis of direct tabar cost. What is the predetermined manufacturing overhead rate!termined manufacturing overhead cate12031 What are the total cost and the unit cost of the completed job Round unitat o 2 decimal places, eg 125Total cost of the completed job120Unit cost of the completed jobS14006Textbook and MediaList of AccountsPrepare the salty to record the sonictionautomatically indented when at sendered DeutDate Account Titles and Explanation21Altempla: 1 of JulAce and ebles Chell covel antDebit

The source documents for direct materials, direct labor, and manufacturing overhead costs assigned…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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The following accounts are from last year's books at Sharp Manufacturing: Balance Balance (g) Debit Debit Debit Raw Materials 0 (b) 170,500 13,900 Finished Goods 0 (g) 520,400 47,400 Cost of Goods Sold 473,000 Credit Credit Credit 156,600 Balance (b) (c) (c) 473,000 (b) (c) (d) Debit Debit Work In Process 0 (1) 133,300 170,600 216,500 0 Manufacturing Overhead 23,300 (e) 27,300 158,600 Credit Credit 520,400 216,500 7,300 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the manufacturing overhead overapplied or underapplied for the year?
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Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Raw materials Work in process Finished goods Beginning of period $ 43,000 9,200 63,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs End of Period $ 57,000 18,600 34,300 $ 183,000 150,000 18,000 34,500 98,500 Exercise 15-12 (Algo) Computing materials, labor, overhead, and cost of goods manufactured LO P1, P2, P3, P4 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the…
XYZ Company uses a job costing system. The direct materials for Job Y were purchased in September and put into production in October. The job was not completed by the end of October. At the end of October, in what account would the direct materials cost assigned to Job Y be located? Select one: O a Work-in-Process Inventory. Ob. None of the given is correct. ON Finished Goods Inventory. Od. Raw Materials Inventory. O e. Cost of Goods Sold.
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Manufacturing cost data for Wildhorse Company, which uses a job order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275.) Work in process 1/1/22 Direct materials used Direct labor Manufacturing overhead applied Total manufacturing costs Total cost of work in process Work in process 12/31/22 Cost of goods manufactured $ Case A 61,000 50,020 177,693 245,830 234,606 (a) (b) (c) Case B $18,910 $101,260 170,800 14,396 (d) (e) (f) (g)
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
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