Question 3: The following data relates to the Aahil & co. for the month of June 2013. Company using job order costing system.​​​​​​​​​ Job  Numbers Direct Material Direct Labor 1 30000 50000 2 20000 40000 3 30000 25000 4 15000 10000 FOH applied 120% of the direct labor to each. Job No. 1, 2 and Job No. 3 were completed. Job No. 1 & 2 was sold 45% above the cost. Required: b) Calculate the following requirements. i. COGM. ii.WIP ending. iv. FG ending. v. Gross profit

Q: Marco Company shows the following costs for three jobs worked on in April. Balances on March 31…

A: Factory overhead refers to the indirect cost incurred in a factory for the production of goods where…

Q: Determining total job costs, using predetermined overhead rate Channel Products Inc. uses the job…

A: The manufacturing costs comprise direct materials, direct labor and overhead applied cost. The…

Q: Company XYZ uses a job order costing system. During the year, Job XY was started and completed. The…

A: Job Order Costing System is the system which starts when customers provide small and unique orders…

Q: Required information [The following information applies to the questions displayed below.] Bunnell…

A: Notes : The direct materials used is calculated as difference total raw material available for use…

Q: Required information [The following information applies to the questions displayed below.] Bunnell…

A: Journal Entry :— It is an act of recording transactions in books of account when transaction…

Q: Solt Corporation uses a job-order costing system and has provided the following partially completed…

A: Cost of goods soldIt is the total amount your business paid as cost that is directly related to the…

Q: $19,200   $23,040   $62,240     Current year’s costs   24,000   28,800   34,560   87,360 7641…

A: Work in Process Inventory records the total direct material , direct labor and manufacturing…

Q: Required information [The following information applies to the questions displayed below.] Marco…

A: A cost schedule is prepared to record the details of all the costs related to production and sales.…

Q: Problem 1: ABC Company uses a job order cost system for its manufacturing activities. The following…

A: Journal Entry - It is a record of every business transaction over a particular period of time…

Q: Required information [The following information applies to the questions displayed below.] Marco…

A: Overhead are the ongoing business expenses not directly attributed to creating a product or service.

Q: The Polaris Company uses a job-order costing system. The following transactions occurred in October:…

A: Job order costing system is used when the job is customer specific and heterogeneous in nature. It…

Q: Marco Company shows the following costs for three jobs worked on in April. Balances on March 31…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

Q: Problem #2: Almeda Products, Inc. uses a job order costing system. Inventory balances on April 1…

A:

Q: RDX uses a Job Order Costing System to record production costs. Overheads are applied to each job on…

A: Predetermined overhead rate: Predetermined overhead rate is calculated before the period begins.…

Q: A company uses a job order costing system and allocates its manufacturing over head cost based on…

A: Given that , Direct labor                               75000 Direct materials…

Q: Problem Number 3: The following data relates to the Aahil& co. for the month of June 2013. Company…

A: Job costing: It is a method of costing where in all the costs like direct material, direct labor and…

Q: Enos Printing Corp. uses a job order cost system. The following data production. 1. Materials…

A: Manufacturers produce a wide variety of products that are different from each other. In this case,…

Q: Bramble Printing Corp. uses a job order cost system. The following data summarize the operations…

A: Job Costing: Job costing is a method of accounting that is used to keep track of the costs of…

Q: Entry for Factory Labor Costs A summary of the time tickets for the current month follows: Job…

A: Factory labor cost is the sum total of all wages paid to workers, also includes cost of worker…

Q: information has been taken from the job order cost system, used by Hafeez CORPORATION: v) Cost of…

A: Job order costing is one of the methods of assigning costs in the cost accounting subject. It is a…

Q: Marco Company shows the following costs for three jobs worked on in April. Balances on March 31…

A: Job order costingThe process of costing a particular job of the company is called job order costing.…

Q: I. The Trend Furniture Corp. started its operations in 2009. It uses the job order costing method.…

A: What is meant by accumulated cost for each job? It is the total of direct material, direct labor and…

Q: answer with must explanation , computation , narrations for each steps and parts answer in text form

A: Let's break down the transactions and journal entries provided, along with the computation of the…

Q: Calculate the selling price of job No. 102 if Material issued to job is OMR 2,500, Material retuned…

A: Answer: Selling price is calculated as Selling price= Variable cost+ Fixed cost+ profit Given Profit…

Q: For the year ended December 31, 2022, the job cost sheets of Blossom Company contained the following…

A:

Q: Enos Printing Corp. uses a job order cost system. The following data summarize the operations…

A: Direct material cost is the cost of raw material produced or purchased to produce the final…

Q: In 2019, Mini reports $1,503,600 of pretax book net income. Mini did not deduct any bad debt expense…

A: Total Income Tax Expenses: Once computed, your income tax cost is the amount you estimate you owe on…

Q: In another area of the company’s operations, Job Order Costing system is used. During the month of…

A: The cost of goods manufactured is calculated as follows: COGM = Beginning WIP + direct materials +…

Q: The following information relates to the manufacturing operations of Trevino Golf Company during the…

A: Answer:-  Journal entry meaning:- Journal entry is the record of the business transactions which…

Q: Required information [The following information applies to the questions displayed below.] Bunnell…

A: Predetermined Overhead Rate :— It is the rate used to allocate manufacturing overhead cost to cost…

Q: Acompany began operations on January 1. 203. The company uses a job order aystem and started the…

A: Cost of goods sold (COGS) indicates the cost of the goods or products that are produced by the…

Q: Company XYZ uses a job order costing system. During the year, Job XY was started and completed. The…

A: Calculation of Selling price per unit established for Job XY:- Total manufacturing…

Q: The following data relates to the Aahil & co. for the month of June 2013. Company using job order…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: ABC Equipment In. receives order from Amund Consultant Clinic on 15th August. The company started…

A: To Complete the job order cost sheet , we need to add all the cost and then add profit to find out…

Q: Lapuz Company uses the Job order costing. On January 1, 2020, Job no. 101 was the only job in…

A: Prime cost means the addition of direct material and direct labor and other direct expenses.…

Q: Premium Company is a manufacturing firm that uses job-order costing. The company's inventory…

A: The question is related to Net Income Statement for the year. Before that we will calculate cost of…

Q: Kaymer Industries Inc. uses a job order cost system. The following data summarize the operations…

A: 1. Prepare the journal entries: Journal entries       Accounts titles and explanations Debit…

Q: 2. The Bahwan Engineering LLC uses a job-order costing system. The following data relate to October,…

A: preparation of journal entry of above transaction are as follows

Q: The following accounts are from last year's books at Sharp Manufacturing: Balance (a) Balance (E)…

A: Under or over-applied is the difference between actual manufacturing overhead cost and applied…

Q: Enos Printing Corp. uses a job order cost system. The following data summarize the operations…

A: Solution:-Given,Enos, Printing Corp. uses a job order cost system.Information of materials Factory…

Q: Krawl Company uses a job order cost system. The following data summarizes the operations related to…

A: 1. Journal entries to record the summarized operations Date Account title and explanation Debit…

Q: During January 2021, LOBO Company worked on three jobs, under normal cost system. Data relating to…

A: Solution: Total cost of job 100 = DM + DL +Overhead applied = (P32,000 - P5,000) + (1000*P60) +…