Job No. 92DateBeg. bal. Jan.18122527Cost of completed job:Direct materialsDirect laborManufacturing overheadTotal costUnit cost ($44,800 = 2,000)Direct Materials5,0006,0002,00013,000Direct Labor6,0008,0004,00018,000For 2,000 UnitsManufacturing Overhead4,2006,4003,20013,800$13,00018,00013,800$44.800$22.40Instructionsa. On the basis of this data, answer the following questions.1. What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job?2. If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year?b. Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92.Analyze costs of manufacturing and determine missing amounts.

Name: Job No. 92DateBeg. bal. Jan.18122527Cost of completed job:Direct mate
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Description: Job No. 92DateBeg. bal. Jan.18122527Cost of completed job:Direct materialsDirect laborManufacturing overheadTotal costUnit cost ($44,800 = 2,000)Direct Materials5,0006,0002,00013,000Direct Labor6,0008,0004,00018,000For 2,000 UnitsManufacturing Overh

Work in process inventory : The process of accounting for work-in-process (WIP) inventory requires…

Business

Accounting

Job No. 92 Date Beg. bal. Jan. 1 8 12 25 27 Cost of completed job: Direct materials Direct labor Manufacturing overhead Direct Materials 5,000 6,000 2,000 13,000 Direct Labor 6,000 8,000 4,000 18,000 For 2,000 Units Manufacturing Overhead 4,200 6,400 3,200 13,800 $13,000 18,000

Job No. 92 Date Beg. bal. Jan. 1 8 12 25 27 Cost of completed job: Direct materials Direct labor Manufacturing overhead Direct Materials 5,000 6,000 2,000 13,000 Direct Labor 6,000 8,000 4,000 18,000 For 2,000 Units Manufacturing Overhead 4,200 6,400 3,200 13,800 $13,000 18,000

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 13E: Job 19AB required 10,000 for direct materials, 4,000 for direct labor, 300 direct labor hours, 150...

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