Exercise 2-6 A job cost sheet of Sandoval Company is given below. Job Cost Sheet JOB NO. ITEM FOR Date 7/10 12 15 22 24 27 31 469 White Lion Cages Todd Company Direct Materials 700 900 1600 1500 Cost of completed Job: Direct materials Direct labour Manufacturing overhead Total Cost Unit Cost Direct Labour 440 380 540 Quantity Date Requested Date Completed Manufacturing Overhead 550 475 2,500 7/2 7/31 675

Exercise 2-6 A job cost sheet of Sandoval Company is given below. Job Cost Sheet JOB NO. ITEM FOR Date 7/10 12 15 22 24 27 31 469 White Lion Cages Todd Company Direct Materials 700 900 1600 1500 Cost of completed Job: Direct materials Direct labour Manufacturing overhead Total Cost Unit Cost Direct Labour 440 380 540 Quantity Date Requested Date Completed Manufacturing Overhead 550 475 2,500 7/2 7/31 675

Name: Exercise 2-6A job cost sheet of Sandoval Company is given below.Job C
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Description: Exercise 2-6A job cost sheet of Sandoval Company is given below.Job Cost SheetJOB NO.ITEMFORDate7/10121522242731469White Lion CagesTodd CompanyDirectMaterials700900Instructions16001500Cost of completed Job:Direct materialsDirect labourManufacturing

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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The following partial Job cost sheet is for a job lot of 2,500 units completed. Customer's Name Huddits Company Date March 8 March 11 Direct Materials Requisition #55 #56 Cost $ 44,750 27,750 1. What is the total cost of this job lot? 2. What is the total cost per unit completed? 1. The total cost of this job lot 2. Cost per unit completed JOB COST SHEET per unit Direct Labor Quantity 2,500 Time Ticket Cost #1 to #10 $ 61,000 Job Number 202 Overhead Rate Date March 8 150% of Direct Labor Cost Cost $91,500
ZZ The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $211,000. b. Raw materials used in production, $188,000 ($150,400 direct materials and $37,600 indirect materials). c. Accrued direct labor cost of $50,000 and indirect labor cost of $22,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $131,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine-hour. A total of 76,300 machine-hours were used in October. g. Jobs costing $511,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $450,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 22% above cost. Required: 1. Prepare journal entries to record the…
Q.1. The Cambridge company uses job order costing. At the beginning.of May, twd jobs were in process: Job # 369 Job # 372 Materials Rs.700' Ra.2,000 1,000 1,500 Direct labor 300 Applied factory overhead There was no inventory of Finished Gods on May 1. During the month. jobs # 373, 374, 375, 37o, 378 and 379 were started. Materials requisitions for May totaled Rs.13,000, and direct labor cost Rs. 10.000 and actual fo.h, Rs.16.000, Factory overhead is applied at a rate of 150% of direct labor cost. 450 The only job still in Process(w.I,P) at the end of May is Job # 379, with costs of Rs.1,400 for materials and Rs.900 Tor direct labor. Job # 376, the only finished job on hand at the end of May. has a totąl cost of Rs.2,000. REQUIRED: A- Prepare all necessary general journal entries B- Show all computations.
CH Marco Company shows the following costs for three jobs worked on in April Balances on March 31 birect materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct Labor used Overhead applied Status on April 30 Additional Information Job 305 Problem 2-2A (Algo) Part 4 $ 37,880 28.000 18.880 155 800 93,000 A (sold) 306 387 $ 48,000 4 Fontshed Job 388 1 128.000 125,000 a. Raw Materials Inventory has a March 31 balance of $88,000. b. Raw materials purchases in April are $520.000, and total factory payroll cost in April is $333,000. c. Actual overhead costs incurred in April are indirect materials, $55.000; indirect labor, $28,000; factory factory utilities, $24.000, and factory equipment depreciation, $56.000. d. Predetermined overhead rate is 50% of direct lacor cost. e. Job 306 is sold for $655,000 cash in April. In process 4. Prepare a schedule of cost of goods manufactured for the month ended April 30.
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9. The BAM Manufacturing Co. uses a job-order costing system, and it applies factory overhead to production at a pre-determined rate based on direct labor cost. The following account appears in the general ledger: WORK IN PROCESS P 50,000 100,000 80,000 60,000 Finished goods P250,900 Beg. Bal Direct Materials Direct Labor Applied overhead The ending work in process represents the cost of Job# 26 which has been charged with P6,000 of direct labor and the cost of Job # 27 which has been charged with applied factory overhead of P4,800. Total cost of direct materials in the ending work in process was А. Р8,400 В. Р9,000 C. P15,200 D. P17,400 10. A company had the following total usage of direct labor and direct materials Hours Pounds Direct Labor (P8 per hour) 400 Direct Materials (PIO per pound) 300 Incomplete job # 101 has used 20 hours of direct labor and 8 pounds of direct materials. Factory overhead is applied at the rate of 200% per direct labor peso. What is the balance in work in…
TB MC Qu. 2-130 Lupo Corporation uses a Job-order .. Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Ded Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour 30,000 $252,000 2.10 Recently, Job T687 was completed with the following characteristics: Number of units in the job Total machine-hours Direct materials 10 30 $675 $1,050 Direct labor cost The estimated total manufacturing overhead is closest to: Multiple Cholce $315,000 S252.000 Mc. Graw Hill 10:53 AM 66°F Mostly cloudy O Type here to search 10/20/2021 21 DELL Delete PgUp PgDn Home F10 F11 F12 PrtScr Insert F7 F8 F9 F2 F3 F4 F5 F6
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