A new company started production. Job 10 was completed, and Job 20 remains in production. Here is the information from job cost sheets from their first and only jobs so far: Job 10 Hours Total Cost Direct materials Direct labor Manufacturing overhead Total cost Job 20 Direct materials Direct labor Manufacturing overhead Total cost Hours 85 110 Total Cost $755 1,785 51 $2,591 $135 2,310 66 $2,511 Using the information provided, A. What is the balance in work in process? $fill in the blank 1 B. What is the balance in the finished goods inventory? $fill in the blank 2 C. If manufacturing overhead is applied on the basis of direct labor hours, what is the predetermined overhead rate? Round your final answer to nearest cent. $fill in the blank 3 per direct labor hour

A new company started production. Job 10 was completed, and Job 20 remains in production. Here is the information from job cost sheets from their first and only jobs so far: Job 10 Hours Total Cost Direct materials Direct labor Manufacturing overhead Total cost Job 20 Direct materials Direct labor Manufacturing overhead Total cost Hours 85 110 Total Cost $755 1,785 51 $2,591 $135 2,310 66 $2,511 Using the information provided, A. What is the balance in work in process? $fill in the blank 1 B. What is the balance in the finished goods inventory? $fill in the blank 2 C. If manufacturing overhead is applied on the basis of direct labor hours, what is the predetermined overhead rate? Round your final answer to nearest cent. $fill in the blank 3 per direct labor hour

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Description: Please do not give solution in image format thanku A new company started production. Job 10 was completed, and Job 20 remains in production. Here is the informationfrom job cost sheets from their first and only jobs so far:Job 10HoursTotal CostDirect

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 9EA: A new company started production. Job 10 was completed, and Job 20 remains in production. Here is...

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