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Bramble Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. Materials purchased on account $197,600, and factory wages incurred $92,500. Materials requisitioned and factory labor used by job: 1. 2 Job Number A20 6 A21 General factory use A22 A23 B 2 Direct materials 1 Purchased raw materials 1. Incurred factory labor Materials Factory Labor $37,940 $18.100 44,220 37,200 41,470 3. Manufacturing overhead costs incurred on account $50,500. 4 Depreciation on factory equipment $16,650. 5 Manufacturing overhead rate is 87% of direct labor cost. Jobs completed during the quarter: A20, A21, and A23. 2. Indirect materials 2. Direct labor Record the operations summarized above. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2 Indirect labor $166,100 5,270 6. Completed jobs 3. Incurred overhead costs 4. Factory depreciation 5. Assigned overhead Job 24,100 16,300 $ 26,600 7,400 Direct Materials $92,500 Raw Materials Inventory Prepare a schedule showing the individual cost components and total cost for each job in item 6. $ Direct Labor Manufacturing Costs Factory Labor $ Manufacturing Overhead Manufacturing Overhead Total $ Work in Process Inventory Finished Goods Inventory $ Cost of Goods Sold

Bramble Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. Materials purchased on account $197,600, and factory wages incurred $92,500. Materials requisitioned and factory labor used by job: 1. 2 Job Number A20 6 A21 General factory use A22 A23 B 2 Direct materials 1 Purchased raw materials 1. Incurred factory labor Materials Factory Labor $37,940 $18.100 44,220 37,200 41,470 3. Manufacturing overhead costs incurred on account $50,500. 4 Depreciation on factory equipment $16,650. 5 Manufacturing overhead rate is 87% of direct labor cost. Jobs completed during the quarter: A20, A21, and A23. 2. Indirect materials 2. Direct labor Record the operations summarized above. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2 Indirect labor $166,100 5,270 6. Completed jobs 3. Incurred overhead costs 4. Factory depreciation 5. Assigned overhead Job 24,100 16,300 $ 26,600 7,400 Direct Materials $92,500 Raw Materials Inventory Prepare a schedule showing the individual cost components and total cost for each job in item 6. $ Direct Labor Manufacturing Costs Factory Labor $ Manufacturing Overhead Manufacturing Overhead Total $ Work in Process Inventory Finished Goods Inventory $ Cost of Goods Sold

FINANCIAL ACCOUNTING
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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Bramble Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1 Materials purchased on account $197,600, and factory wages incurred $92,500. Materials requisitioned and factory labor used by job: 2 Job Number A23 General factory use 4. A20 A21 5. A22 6. Materials Factory Labor $37,940 $18,100 24,100 16,300 26,600 7.400 3. Manufacturing overhead costs incurred on account $50,500. Depreciation on factory equipment $16,650. Manufacturing overhead rate is 87% of direct labor cost. Jobs completed during the quarter: A20, A21, and A23. 2. Direct materials 2. Indirect materials 2. Direct labor 44,220 2. Indirect labor 37,200 Record the operations summarized above. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 1. Purchased raw materials 1. Incurred factory labor 41,470 $166,100 6. Completed jobs 5,270 5. Assigned overhead 3. Incurred overhead costs 4. Factory depreciation. $92,500 $ Direct Materials Raw Materials Inventory TUBA $ Prepare a schedule showing the individual cost components and total cost for each job in item 6. Job Direct Labor Manufacturing Costs Factory Labor $ Manufacturing Overhead Manufacturing Overhead Total $ Work in Process Inventory $ Finished Goods Inventory $ Cost of Goods Sold
Transcribed Image Text:Bramble Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1 Materials purchased on account $197,600, and factory wages incurred $92,500. Materials requisitioned and factory labor used by job: 2 Job Number A23 General factory use 4. A20 A21 5. A22 6. Materials Factory Labor $37,940 $18,100 24,100 16,300 26,600 7.400 3. Manufacturing overhead costs incurred on account $50,500. Depreciation on factory equipment $16,650. Manufacturing overhead rate is 87% of direct labor cost. Jobs completed during the quarter: A20, A21, and A23. 2. Direct materials 2. Indirect materials 2. Direct labor 44,220 2. Indirect labor 37,200 Record the operations summarized above. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 1. Purchased raw materials 1. Incurred factory labor 41,470 $166,100 6. Completed jobs 5,270 5. Assigned overhead 3. Incurred overhead costs 4. Factory depreciation. $92,500 $ Direct Materials Raw Materials Inventory TUBA $ Prepare a schedule showing the individual cost components and total cost for each job in item 6. Job Direct Labor Manufacturing Costs Factory Labor $ Manufacturing Overhead Manufacturing Overhead Total $ Work in Process Inventory $ Finished Goods Inventory $ Cost of Goods Sold
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