Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The directlabor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on threejobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to thecustomer. Job B was completed during April, but not sold. Job C was started during April, but not completed. The job costsheets revealed the following costs for April:Job AJob B$1,2008,4008,400Job C$12,2002,20010,400Cost of Jobs in Process, 4/1/2016Direct Materials Used9,6003,200Direct LaborApplied Manufacturing OverheadRequired:If no other jobs were started, completed, or sold, determine the balance in each of the following accounts at the end of April:a. Work in Processb. Finished Goodsc. Cost of Goods Sold

Compute work in process at end of April as shown below:

Answered: Jenkins Company uses a job order cost…

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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