GL0201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Ryan Company shows the following costs for three jobs worked on in April. Job 387 Job 308 $ 37,400 18,800 9,400 Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March). Costs during April Direct materials Direct labor Applied overhead Status on April 30 Additional Information Job 386 $ 30,600 21,600 10,800 136,600 88,200 ? Finished (sold) 222,400 154,000 ? Finished (unsold) $ 100,800 105,800 2 In process a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $501,600, and total factory payroll cost in April is $371,800. c. Actual overhead costs incurred in April are indirect materials, $50,800; indirect labor, $23,800; factory rent, $32,800; factory utilities, $19,800; and factory equipment depreciation, $52,600. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $610,000 cash in April.

GL0201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Ryan Company shows the following costs for three jobs worked on in April. Job 387 Job 308 $ 37,400 18,800 9,400 Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March). Costs during April Direct materials Direct labor Applied overhead Status on April 30 Additional Information Job 386 $ 30,600 21,600 10,800 136,600 88,200 ? Finished (sold) 222,400 154,000 ? Finished (unsold) $ 100,800 105,800 2 In process a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $501,600, and total factory payroll cost in April is $371,800. c. Actual overhead costs incurred in April are indirect materials, $50,800; indirect labor, $23,800; factory rent, $32,800; factory utilities, $19,800; and factory equipment depreciation, $52,600. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $610,000 cash in April.

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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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