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Work in Process Job 33 Job 34 Balance on 3/1 $ 7,500 6,000 $ 13,500 Source documents revealed the following during March Materials Requisitions Forms $ 3,500 6,000 4,200 1,300 $ 15,000 Job.33 Job 34 Job 35 Indirect Labor Time Tickets $6,500 7,800 3,250 2,140 $19,690 Status of Job at Month-End Completed and sold Completed, but not sold In process The company applies overhead to products at a rate of 150 percent of direct labor cost. Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month. 2. Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end Complete this question by entering your answers in the tabs below. Work in Process Inventory Finished Goods Inventory Cost of Goods Sold Required 1 Required 2 Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month- end.

Work in Process Job 33 Job 34 Balance on 3/1 $ 7,500 6,000 $ 13,500 Source documents revealed the following during March Materials Requisitions Forms $ 3,500 6,000 4,200 1,300 $ 15,000 Job.33 Job 34 Job 35 Indirect Labor Time Tickets $6,500 7,800 3,250 2,140 $19,690 Status of Job at Month-End Completed and sold Completed, but not sold In process The company applies overhead to products at a rate of 150 percent of direct labor cost. Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month. 2. Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end Complete this question by entering your answers in the tabs below. Work in Process Inventory Finished Goods Inventory Cost of Goods Sold Required 1 Required 2 Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month- end.

FINANCIAL ACCOUNTING
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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Subject :- Accounting 

 

Work in Process Job 33 Job 34 Balance on 3/1 $ 7,500 6,000 $ 13,500 Source documents revealed the following during March: Materials Requisitions Forms Job.33 Job 34 Job 35 Indirect $ 3,500 6,000 4,200 1,300 $ 15,000 Labor Time Tickets $6,500 7,800 3,250 2,140 $ 19,690 The company applies overhead to products at a rate of 150 percent of direct labor cost. Status of Job at Month-End Completed and sold Completed, but not sold In process Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month. 2. Calculate the balance in the Work In Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end Required 2 Complete this question by entering your answers in the tabs below. Work in Process Inventory Finished Goods Inventory Cost of Goods Sold Required 1 Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month- end. < Required 1 Required 2
Transcribed Image Text:Work in Process Job 33 Job 34 Balance on 3/1 $ 7,500 6,000 $ 13,500 Source documents revealed the following during March: Materials Requisitions Forms Job.33 Job 34 Job 35 Indirect $ 3,500 6,000 4,200 1,300 $ 15,000 Labor Time Tickets $6,500 7,800 3,250 2,140 $ 19,690 The company applies overhead to products at a rate of 150 percent of direct labor cost. Status of Job at Month-End Completed and sold Completed, but not sold In process Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month. 2. Calculate the balance in the Work In Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end Required 2 Complete this question by entering your answers in the tabs below. Work in Process Inventory Finished Goods Inventory Cost of Goods Sold Required 1 Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month- end. < Required 1 Required 2
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