Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 10, Problem 10PA
Clarion Industries produces two joint products, Y and Z. Prior to the split-off point, the company incurred costs of $36,000. Product Y weighs 25 pounds and product Z weighs 75 pounds. Product Y sells for $150 per pound and product Z sells for $125 per pound. Based on a physical measure of output, allocate joint costs to products Y and Z.
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Cullumber Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1,
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direct labor $10,080, and manufacturing overhead $13,440. As of January 1, Job 49 had been completed at a cost of $75,600 and was
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During the month of January, Cullumber Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and
50 were sold on account during the month for $102,480 and $132,720, respectively. The following additional events occurred during
the month.
1.
Purchased additional raw materials of $75,600 on account.
2.
Incurred factory labor costs of $58,800.
3.
Incurred manufacturing overhead costs as follows: depreciation expense on equipment $10,080; and various other…
Cullumber Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1,
2025, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $16,800,
direct labor $10,080, and manufacturing overhead $13,440. As of January 1, Job 49 had been completed at a cost of $75,600 and was
part of finished goods inventory. There was a $12,600 balance in the Raw Materials Inventory account on January 1.
During the month of January, Cullumber Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and
50 were sold on account during the month for $102,480 and $132,720, respectively. The following additional events occurred during
the month.
1.
Purchased additional raw materials of $75,600 on account.
2.
Incurred factory labor costs of $58,800.
3.
Incurred manufacturing overhead costs as follows: depreciation expense on equipment $10,080; and various other…
General Accounting question
Chapter 10 Solutions
Principles of Accounting Volume 2
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