Question 21 What is the January Sales Revenue related to Job 3? Question 21 options: $380,000 $540,000 $500,000 $450,000 $100,000 Question 22 What is the January Cost of Goods Sold (CGS) related to Job 1? Question 22 options: $148,000 $180,000 $200,000 $218,000 $44,000 Question 23 What is the January Cost of Goods Sold (CGS) related to Job 2? Question 23 options: $180,000 $218,000 $44,000 $148,000 $200,000 Question 24 What is the January Cost of Goods Sold (CGS) related to Job 3? Question 24 options: $218,000 $44,000 $180,000
Question 21 What is the January Sales Revenue related to Job 3? Question 21 options: $380,000 $540,000 $500,000 $450,000 $100,000 Question 22 What is the January Cost of Goods Sold (CGS) related to Job 1? Question 22 options: $148,000 $180,000 $200,000 $218,000 $44,000 Question 23 What is the January Cost of Goods Sold (CGS) related to Job 2? Question 23 options: $180,000 $218,000 $44,000 $148,000 $200,000 Question 24 What is the January Cost of Goods Sold (CGS) related to Job 3? Question 24 options: $218,000 $44,000 $180,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Question 21
What is the January Sales Revenue related to Job 3?
|
$380,000 |
|
$540,000 |
|
$500,000 |
|
$450,000 |
|
$100,000 |
Question 22
What is the January Cost of Goods Sold (CGS) related to Job 1?
|
$148,000 |
|
$180,000 |
|
$200,000 |
|
$218,000 |
|
$44,000 |
Question 23
What is the January Cost of Goods Sold (CGS) related to Job 2?
|
$180,000 |
|
$218,000 |
|
$44,000 |
|
$148,000 |
|
$200,000 |
Question 24
What is the January Cost of Goods Sold (CGS) related to Job 3?
|
$218,000 |
|
$44,000 |
|
$180,000 |
|
$200,000 |
|
$148,000 |
![Kaitlyn, Inc. is a manufacturer who uses a job order costing system. The data below summarizes
the operations related to production and sales for January, the first month of operations. Kaitlyn,
Inc. allocates factory overhead on a monthly basis based upon total monthly factory overhead
costs and direct labor hours. Total direct labor hours for January are 75,000 hours.
Purchased the following raw materials:
• 6,000 units for Job 1 @ $10/unit
• 5,500 units for Job 2 @ $15/unit
• 12,300 units for Job 3 @ $5/unit
Requisitioned materials for production:
• 5,000 units for Job 1 @ $10/unit
• 4,000 units for Job 2 @ $15/unit
• 10,000 unit for Job 3 @ $5/unit
• Direct labor costs:
• 2,000 hours of direct labor on Job 1 at $15 per hour
• 10,000 hours of direct labor on Job 2 at $14 per hour
• 8,000 hours of direct labor on Job 3 at $20 per hour
• Total factory overhead costs for the month:
• $70,000 of indirect materials
• $115,000 of indirect labor
• $97,000 of utilities costs
• $18,000 of factory depreciation
• Production data:
• Job 1 produced 5,000 units out of an estimated possible 8,000 units,
• Job 2 produced 20,000 units out of an estimated possible 24,000 units
• Job 3 produced 11,000 units out of an estimated possible 12,100 units,
Sales data:
• Job 1→ 4,000 units sold on credit for $25 per unit
• Job 2 → 18,000 units sold on credit for $30 per unit
• Job 3 → 10,000 units sold on credit for $50 per unit
To Do: Complete the T-Accounts on the following page, as well as the Cost Flow Worksheets.
Helpful Hint: While not required for this assignment, it might be helpful to create the related
journal entries.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4c040b78-d7d4-46f8-bae7-f6e059ab8581%2F3eee2086-ee23-4857-9f58-b9b3d068b617%2Fc1n8awo_processed.png&w=3840&q=75)
Transcribed Image Text:Kaitlyn, Inc. is a manufacturer who uses a job order costing system. The data below summarizes
the operations related to production and sales for January, the first month of operations. Kaitlyn,
Inc. allocates factory overhead on a monthly basis based upon total monthly factory overhead
costs and direct labor hours. Total direct labor hours for January are 75,000 hours.
Purchased the following raw materials:
• 6,000 units for Job 1 @ $10/unit
• 5,500 units for Job 2 @ $15/unit
• 12,300 units for Job 3 @ $5/unit
Requisitioned materials for production:
• 5,000 units for Job 1 @ $10/unit
• 4,000 units for Job 2 @ $15/unit
• 10,000 unit for Job 3 @ $5/unit
• Direct labor costs:
• 2,000 hours of direct labor on Job 1 at $15 per hour
• 10,000 hours of direct labor on Job 2 at $14 per hour
• 8,000 hours of direct labor on Job 3 at $20 per hour
• Total factory overhead costs for the month:
• $70,000 of indirect materials
• $115,000 of indirect labor
• $97,000 of utilities costs
• $18,000 of factory depreciation
• Production data:
• Job 1 produced 5,000 units out of an estimated possible 8,000 units,
• Job 2 produced 20,000 units out of an estimated possible 24,000 units
• Job 3 produced 11,000 units out of an estimated possible 12,100 units,
Sales data:
• Job 1→ 4,000 units sold on credit for $25 per unit
• Job 2 → 18,000 units sold on credit for $30 per unit
• Job 3 → 10,000 units sold on credit for $50 per unit
To Do: Complete the T-Accounts on the following page, as well as the Cost Flow Worksheets.
Helpful Hint: While not required for this assignment, it might be helpful to create the related
journal entries.
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