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: November costs incurred: Direct materials Direct labour Manufacturing overhead December costs incurred: Direct materials Direct labour Manufacturing overhead Job Cost Sheet Job 105 Job 106 Job 107 $18,300 $11,100 $ $14,800 $8,800 $ $23,680 $14,080 $ 0 e $ e $9,100 $ 24,900 $ 5,350 $6,900 $ 11,800 ? ? ? The following additional information is available: a. Manufacturing overhead is applied to jobs on the basis of direct labour cost. b. Balances in the inventory accounts at November 30 were as follows:

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: November costs incurred: Direct materials Direct labour Manufacturing overhead December costs incurred: Direct materials Direct labour Manufacturing overhead Job Cost Sheet Job 105 Job 106 Job 107 $18,300 $11,100 $ $14,800 $8,800 $ $23,680 $14,080 $ 0 e $ e $9,100 $ 24,900 $ 5,350 $6,900 $ 11,800 ? ? ? The following additional information is available: a. Manufacturing overhead is applied to jobs on the basis of direct labour cost. b. Balances in the inventory accounts at November 30 were as follows:

Name: Kenworth Company uses a job-order costing system. Only three jobs-Job
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Description: Kenworth Company uses a job-order costing system. Only three jobs-Job 105, Job 106, and Job 107-were worked on duringNovember and December. Job 105 was completed on December 10; the other two jobs were still in production on December 31, theend of t

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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