Mother to Child Connection is a non-profit organizaton that employs abused and battered women staying in shelters. The mission of this orgainzation is to establish productive lifestyles for these women by employing them in the manufacture of affordable clothing for children. All proceeds fund the shelters in which these women live. Additional Information: Materials purchased on account: $15,500 Materials requisitioned and labor used: Job No. Materials Factory Labor 100 $2650 $1770 101 $1240 $650 102 $980 $420 103 $3420 $1900 104 $1000 $500 105 $2100 $1760 For general factory use: $450 $650 Factory overhead costs incurred on account: $2700 Depreciation on machinery: $1750 Factory overhead applied at a rate of 70% of direct labor cost Completed jobs this period: 101, 101, 102, 104 Shipped jobs: 100, 101, 102 and billed customers $8100, $3800, and $3500, respectively. Questions: a. Record journal entries for the transactions above b. Compute account balances for WIP and FG c. List unfinished jobs that represent the WIP account d. List completed jobs that represent the FG account
Mother to Child Connection is a non-profit organizaton that employs abused and battered women staying in shelters. The mission of this orgainzation is to establish productive lifestyles for these women by employing them in the manufacture of affordable clothing for children. All proceeds fund the shelters in which these women live.
Additional Information:
Materials purchased on account: $15,500
Materials requisitioned and labor used:
| Job No. | Materials | Factory Labor |
| 100 | $2650 | $1770 |
| 101 | $1240 | $650 |
| 102 | $980 | $420 |
| 103 | $3420 | $1900 |
| 104 | $1000 | $500 |
| 105 | $2100 | $1760 |
For general factory use: $450 $650
Factory overhead applied at a rate of 70% of direct labor cost
Completed jobs this period: 101, 101, 102, 104
Shipped jobs: 100, 101, 102 and billed customers $8100, $3800, and $3500, respectively.
Questions:
a. Record
b. Compute account balances for WIP and FG
c. List unfinished jobs that represent the WIP account
d. List completed jobs that represent the FG account
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