Kenworth Company uses a job - order costing system. Only three jobs - Job 105, Job 106, and Job 107 - were worked on during November and December. Job 105 was completed on December 10; the other two jobs were still in production on December 31, the end of the company's operating year. Data from the job cost sheets of the three jobs follow: The following additional information is avallable: a. Manufacturing overhead is applled to jobs on the basis of direct labour cost. b. Balances in the inventory accounts at November 30 were as follows: \table[[Raw Materials,], [Work in Process, $40, 600 Required: 1. Prepare 1 accounts for Raw Materials, Work in Process, Finished Goods, and Manufacturing Overhead. Enter the November 30 Inventory balances given above; in the case of Work in Process, compute the November 30 balance and enter it into the Work in Process T-account Raw Materials Beg Bal End. Bal Work in Process Bey Bal End Bal 이 Finished Goods Manufacturing Overhead Beg Bal Beg Bal End Ball End Bal 이 Salaries & Wages Payable Accounts Payable Beg Bal. Beg Bal End Bal End Ball
Kenworth Company uses a job - order costing system. Only three jobs - Job 105, Job 106, and Job 107 - were worked on during November and December. Job 105 was completed on December 10; the other two jobs were still in production on December 31, the end of the company's operating year. Data from the job cost sheets of the three jobs follow: The following additional information is avallable: a. Manufacturing overhead is applled to jobs on the basis of direct labour cost. b. Balances in the inventory accounts at November 30 were as follows: \table[[Raw Materials,], [Work in Process, $40, 600 Required: 1. Prepare 1 accounts for Raw Materials, Work in Process, Finished Goods, and Manufacturing Overhead. Enter the November 30 Inventory balances given above; in the case of Work in Process, compute the November 30 balance and enter it into the Work in Process T-account Raw Materials Beg Bal End. Bal Work in Process Bey Bal End Bal 이 Finished Goods Manufacturing Overhead Beg Bal Beg Bal End Ball End Bal 이 Salaries & Wages Payable Accounts Payable Beg Bal. Beg Bal End Bal End Ball
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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![Kenworth Company uses a job - order costing system.
Only three jobs - Job 105, Job 106, and Job 107 - were
worked on during November and December. Job 105
was completed on December 10; the other two jobs
were still in production on December 31, the end of
the company's operating year. Data from the job cost
sheets of the three jobs follow:
The following additional information is avallable:
a. Manufacturing overhead is applled to jobs on the
basis of direct labour cost.
b. Balances in the inventory accounts at November 30
were as follows:
\table[[Raw Materials,], [Work in Process, $40, 600
Required:
1. Prepare 1 accounts for Raw Materials, Work in Process, Finished Goods, and Manufacturing Overhead. Enter the November 30
Inventory balances given above; in the case of Work in Process, compute the November 30 balance and enter it into the Work in
Process T-account
Raw Materials
Beg Bal
End. Bal
Work in Process
Bey Bal
End Bal
이
Finished Goods
Manufacturing Overhead
Beg Bal
Beg Bal
End Ball
End Bal
이
Salaries & Wages Payable
Accounts Payable
Beg Bal.
Beg Bal
End Bal
End Ball](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbcec91d0-0256-4285-a63b-ff980e9a5a3f%2F97243d1c-3d69-4e23-a803-03713f4eca20%2F9rg2yo8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Kenworth Company uses a job - order costing system.
Only three jobs - Job 105, Job 106, and Job 107 - were
worked on during November and December. Job 105
was completed on December 10; the other two jobs
were still in production on December 31, the end of
the company's operating year. Data from the job cost
sheets of the three jobs follow:
The following additional information is avallable:
a. Manufacturing overhead is applled to jobs on the
basis of direct labour cost.
b. Balances in the inventory accounts at November 30
were as follows:
\table[[Raw Materials,], [Work in Process, $40, 600
Required:
1. Prepare 1 accounts for Raw Materials, Work in Process, Finished Goods, and Manufacturing Overhead. Enter the November 30
Inventory balances given above; in the case of Work in Process, compute the November 30 balance and enter it into the Work in
Process T-account
Raw Materials
Beg Bal
End. Bal
Work in Process
Bey Bal
End Bal
이
Finished Goods
Manufacturing Overhead
Beg Bal
Beg Bal
End Ball
End Bal
이
Salaries & Wages Payable
Accounts Payable
Beg Bal.
Beg Bal
End Bal
End Ball
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