Job 3 $2,640 $29,530 $41,700 $29,190 $103,060 Job 5 $1,170 $21,790 $33,500 $23,450 $79,910 Total $6,820 $70,130 $109,710 $76,797 Job 1 Job 7 $3,010 $13,600 $23,600 $16,520 $56,730 Beg. Work in Process Inv Direct materials $5,210 $10,910 $7,637 $23,757 Direct labor Applied Overhead Total Job Cost a. Jobs 1, 3, and 7 were completed. Job 3 was sold for $163,000 cash and Job 5 was not completed. Prepare journal entries to record costs added this period (direct materials, direct labor, applied overhead), jobs completed, and jobs sold. Account Name DEBIT CREDIT

Job 3 $2,640 $29,530 $41,700 $29,190 $103,060 Job 5 $1,170 $21,790 $33,500 $23,450 $79,910 Total $6,820 $70,130 $109,710 $76,797 Job 1 Job 7 $3,010 $13,600 $23,600 $16,520 $56,730 Beg. Work in Process Inv Direct materials $5,210 $10,910 $7,637 $23,757 Direct labor Applied Overhead Total Job Cost a. Jobs 1, 3, and 7 were completed. Job 3 was sold for $163,000 cash and Job 5 was not completed. Prepare journal entries to record costs added this period (direct materials, direct labor, applied overhead), jobs completed, and jobs sold. Account Name DEBIT CREDIT

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter4: Job-order Costing And Overhead Application

Section: Chapter Questions

Problem 47E: Cost Flows Consider the following independent jobs. Overhead is applied in Department 1 at the rate...

See similar textbooks

Similar questions

Your company uses an activity-based costing system for its overhead costs. Thefollowing data is from its activity-based costing system. Activity Cost Pools Activity Rate Construction ........... $35.50 Per DLH Office support....... $580.00 Per Order Customer Support........ $250.00 Per Customer Revenue related to job $35,000.00 Number of orders 5 Traceable costs........ $7,500 DLH used 635 What is customer margin for this client? (Round to the nearest dollar if necessary.) Group of answer choices $25,693 $1,808 $9,308 $2,058
Job cost sheets show the following information: Job January February March AA2 $2,600 $1,100 AA4 4,840 AA5 AA3 3,240 3,410 $7,750 January February March Completed February January February 2,600 3,410 $2,319 April $2,319 Total $7,440 What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for January, February, and March? Work in Process Sold Not sold February March Not sold Finished Goods COGS
Job cost sheets show the following information: Job January February $2,500 $1,300 4,839 AA2 AA4 AA5 AA3 January $ February 3,240 3,410 $7,950 March March Completed February January February $2,320 April $2,320 Finished Goods Sold Total $7,339 What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for January, February, and March? Work in Process LA Not sold February March Not sold COGS
engageNOWv2 | Online teachin X + _com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress.... A E At the end of April, Cavy Company had completed Jobs 765 and 766. The individual job cost sheets reveal the following information: Job Direct Materials Direct Labor Machine Hours Job No. 765 $8,400 30 $2,520 4,698 Job No. 766 14,877 87 Job 765 consisted of 180 units, and Job 766 consisted of 261 units. Assuming that the predetermined factory overhead rate is applied by using machine hours at a rate of $95 per hour. a. Determine the balance on the job cost sheets for each job. Job 765 Job 766 b. Determine the cost per unit at the end of April. Round your answers to the nearest cent. Job 765 Job 766 a 118 D -F10 Previous Next > D
Pratice Problem 3 A company's individual job sheets show these costs for Jobs 298, 299, and 300. Direct material is RO 2,228, RO 23,945, and RO 4,231 respectively. Direct labor is RO 2,391, RO 23,492, and RO 3,413, respectively. Overhead is applied at 1.75 times the direct labor cost. Use the data on the cost sheets to perform these tasks: You are required to : Prepare an entry to record the assignment of direct material to work in process. Prepare an entry to record the assignment of direct labor to work in process. Prepare an entry to record the assignment of manufacturing overhead to work in process. ●
A company’s individual job sheets show these costs:Overhead is applied at 1.25 times the direct labor cost. Use the data on the cost sheets to apply overhead to each of the jobs. Round to the nearest whole dollar, no decimal places.Job cost data Job 131Job 132Job 133TotalDirect materials$4,585$8,723$1,575$ Direct labor2,3852,4982,874 Overhead Total$ $ $ $ help with filling in all the empty boxes, please
Job cost sheets show the following information: Job January February March AA2 $2,600 $1,100 AA4 4,840 AA5 AA3 Total $7,440 What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for January, February, and March? Finished Work in Process Goods January February March 3,240 3,410 $7,750 2,600 ✔ 3,410 Completed February January February $2,319 April $2,319 4,840 ✓ 6,940 ✓ 3,700 ✓ Sold Not sold February March Not sold COGS 4,840 3,240 ✔
A company’s individual job sheets show these costs: Overhead is applied at 1.25 times the direct labor cost. Use the data on the cost sheets to apply overhead to each of the jobs. Round to the nearest whole dollar, no decimal places. Job cost data Job 131 Job 132 Job 133 Total Direct materials $4,585 $8,723 $1,575 $ Direct labor 2,385 2,498 2,874 Overhead Total $ $ $ $
< A summary of the time tickets for the current month follows: Job No. 100 $3,500 6,650 21,900 14,440 9,100 8,620 2,760 18,550 Journalize the entry to record the factory labor costs. If an amount box does not require an entry, leave it blank. Work in Process Factory Overhead Wages Payable 101 104 108 Indirect 111 115 Amount 117 Alpha-numeric input field
Pratice Problem 2: A company's individual job sheets show these costs: A chart showing costs for Jobs 131, 132, and 133. Direct materials is RO 4585, RO 8723, and RO 1575 respectively. Direct labor is RO2385, RO 2498, and RO 2874, respectively. Overhead is applied at 1.25 times the direct labor cost. You are required to : Prepare an entry to record the assignment of direct materials to work in process. Prepare an entry to record the assignment of direct labor to work in process. Prepare an entry to record the assignment of manufacturing overhead to work in process.
Job order cost sheets show the following costs assigned to each job: Job order cost data Job 13 Job 14 Job 15 Direct materials 1,918 3,588 1,137 Direct labor 4,388 1,978 3,794 or enent The company assigns overhead at $2.22 for each direct labor dollar spent. What is the total cost for Job 14?
Job cost sheets show the following information: Job January February March Completed AA2 $2,600 $1,100 February AA4 4,840 January AA5 February AA3 April Total $7,440 What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for January, February, and March? Work in Finished Process Goods January February March $ 3,240 3,410 $7,750 2,600 3,410 $2,319 $2,319 4,840 6,940 3,700 Sold Not sold February March Not sold COGS 4,840 3,240