Kaymer Industries, Inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations: a. Materials purchased on account, $33,100. b. Materials requisitioned and factory labor used: Factory Labor $5,460 Job Materials 301 $2,740 302 3,980 2,930 303 2,570 3,070 304 8,850 8,520 6,210 4,290 1,200 305 1,840 306 6,110 For general factory use 4,520 c. Factory overhead costs incurred on account, $6,470. d. Depreciation of factory machinery and equipment, $1,790. e. The factory overhead rate is $65 per machine hour. Machine hours used: IT Job Machine Hours 301 52 302 28 303 44 304 65 305 36 306 79 Total 304 f. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $23,450 Job 302, $19,210; Job 303, $17,360.
Kaymer Industries, Inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations: a. Materials purchased on account, $33,100. b. Materials requisitioned and factory labor used: Factory Labor $5,460 Job Materials 301 $2,740 302 3,980 2,930 303 2,570 3,070 304 8,850 8,520 6,210 4,290 1,200 305 1,840 306 6,110 For general factory use 4,520 c. Factory overhead costs incurred on account, $6,470. d. Depreciation of factory machinery and equipment, $1,790. e. The factory overhead rate is $65 per machine hour. Machine hours used: IT Job Machine Hours 301 52 302 28 303 44 304 65 305 36 306 79 Total 304 f. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $23,450 Job 302, $19,210; Job 303, $17,360.
Chapter4: Preparing And Using Financial Statements
Section: Chapter Questions
Problem 16DQ
Related questions
Question
Transcribed Image Text:a
Correct
Materials
Correct
Accounts Payable
b
Wrong
Wrong
Wrong
Wrong
Wrong
Wrong
d
Wrong
Wrong
e
Wrong
Wrong
Wrong
Wrong
g1
Wrong
Wrong
g2
Wrong
Wrong
Transcribed Image Text:Kaymer Industries, Inc. uses a job order cost system. The following data
summarize the operations related to production for January, the first month of
operations:
a. Materials purchased on account, $33,100.
b. Materials requisitioned and factory labor used:
Factory Labor
$5,460
Job
Materials
301
$2,740
302
3,980
2,930
2,570
8,850
303
3,070
304
8,520
305
6,210
1,840
306
4,290
6,110
For general factory use
1,200
4,520
c. Factory overhead costs incurred on account, $6,470.
d. Depreciation of factory machinery and equipment, $1,790.
e. The factory overhead rate is $65 per machine hour. Machine hours used:
Job
Machine Hours
301
52
302
28
303
44
304
65
305
36
306
79
Total
304
f. Jobs completed: 301, 302, 303, and 305.
g. Jobs were shipped and customers were billed as follows: Job 301, $23,450;
Job 302, $19,210; Job 303, $17,360.
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