Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Textbook Question
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Chapter 17, Problem 1R

Nutt Products manufactures screws and bolts made to customer specifications. During August, Nutt incurred the following manufacturing costs: direct materials, $28,019.00; direct labor, $15,276.75; and applied factory overhead, $9,854.50. The following data pertain to these costs:

Chapter 17, Problem 1R, Nutt Products manufactures screws and bolts made to customer specifications. During August, Nutt

The overhead application rates are $4 per direct labor hour for Dept. 1 and 175% of direct labor cost for Dept. 2.

Nutt had no beginning work in process for August. Job 8958, which cost $14,190.18 to manufacture, was completed in July and was sold on account in August for $19,000. The job cost sheet for this job is shown on page 103. Of the jobs begun in August, Job 8961 was completed and sold on account for $24,000, Jobs 8962 and 8964 were completed but not sold, and Job 8963 was still in process.

As cost accountant for this company, you have been asked to prepare job cost sheets for each of the four jobs started in August. Review the printed worksheet called JOB that follows these requirements.

Expert Solution & Answer
Check Mark
To determine

Prepare job cost sheets for each of the four jobs started in the month of August.

Explanation of Solution

Prepare job cost sheets for Job 8961.

Excel Applications for Accounting Principles, Chapter 17, Problem 1R , additional homework tip  1

Table (1)

Prepare job cost sheets for Job 8962.

Excel Applications for Accounting Principles, Chapter 17, Problem 1R , additional homework tip  2

Table (2)

Prepare job cost sheets for Job 8963.

Excel Applications for Accounting Principles, Chapter 17, Problem 1R , additional homework tip  3

Table (3)

Prepare job cost sheets for Job 8964.

Excel Applications for Accounting Principles, Chapter 17, Problem 1R , additional homework tip  4

Table (4)

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