Based on the following information. you are réquired to preparc the following a Journal entries T-account for work in process c Simple cost sheets d. b. Proof of work in process inventory. end The Reuben Appliances Corp. started its operations in 200B It uses the job order costung method and has adopted the voucher system to effectively control the flowof resources. inventories and payables. The transactions for the first quarter of the year are as follows: ) Materials purchases on account. P 50.000 2) Materials issued: Job Order No. B-001 P 7,500 13.000 B-002 B-003. 6.250 3) Indirect materials issued. P 5.250 4) Payroli charges include indirect labor of P7.800. Dircct labor costs are as follows P 5.300 Job Order No. B-001. B-002.: B-003. 8.000 4.750 5) Factory overhead is charged to production at P3 per machine hour. Machine hours utilized are as follows: Job Order No. B-901.... B-002... 1,200 machine hours 2.050 machie hours 1.400 machine hours B-003..

Based on the following information. you are réquired to preparc the following a Journal entries T-account for work in process c Simple cost sheets d. b. Proof of work in process inventory. end The Reuben Appliances Corp. started its operations in 200B It uses the job order costung method and has adopted the voucher system to effectively control the flowof resources. inventories and payables. The transactions for the first quarter of the year are as follows: ) Materials purchases on account. P 50.000 2) Materials issued: Job Order No. B-001 P 7,500 13.000 B-002 B-003. 6.250 3) Indirect materials issued. P 5.250 4) Payroli charges include indirect labor of P7.800. Dircct labor costs are as follows P 5.300 Job Order No. B-001. B-002.: B-003. 8.000 4.750 5) Factory overhead is charged to production at P3 per machine hour. Machine hours utilized are as follows: Job Order No. B-901.... B-002... 1,200 machine hours 2.050 machie hours 1.400 machine hours B-003..

Name: 56 Chapter II6) Jobs B-001 and B-003 are completed.7) Actual factory
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Description: 56 Chapter II6) Jobs B-001 and B-003 are completed.7) Actual factory overhead amounts.to P 14,200.8) Job Order No. B-001 is sold for cash with gross profit of 60% of selling price.9) Factory overhead variance is closed to cost of goods sold. ournal

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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