Job Costing : Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts. Requirement1 To Determine: Costing system Brandon manufacturing using to maintain their cost records

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Answer 1

Question

Chapter 19, Problem P19.28APGA

To determine

Concept Introduction:

Job Costing: Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts.

Requirement1

To Determine:Costing system Brandon manufacturing using to maintain their cost records

To determine

Requirement 2

To Determine:

1. Brandon’s Manufacturing Jobs Status as on 31^st Oct and 30^th Nov

2. As per the cost records ,Account Balance of Work in Process inventory, Finished Goods Inventory and Cost of Goods Sold as on 31^st Oct

3. As per the Cost Records, Account Balance for Work in Process Inventory, Finished Goods Inventory and Cost of Goods Sold as on 30^th Nov

To determine

Requirement 3

To Prepare: Journal Entries for recording the transfer from Work in Process account to finished goods account on completion of Job in Oct and Nov

To determine

Requirement 4

To Prepare: Journal Entry to Record sale of Job3 for $2,400

To determine

Requirement 5

To Determine: Gross Profit for Job 3

Expert Solution & Answer

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In December 2018, Crescent Fabrication established its predetermined overhead rate for jobs produced during 2019 using the following cost estimates: overhead cost of $300,000 and direct materials cost of $250,000. Determine the predetermined overhead rate for 2019. Need answer

Answer 2

Question

Chapter 19, Problem P19.28APGA

To determine

Concept Introduction:

Job Costing: Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts.

Requirement1

To Determine:Costing system Brandon manufacturing using to maintain their cost records

To determine

Requirement 2

To Determine:

1. Brandon’s Manufacturing Jobs Status as on 31^st Oct and 30^th Nov

2. As per the cost records ,Account Balance of Work in Process inventory, Finished Goods Inventory and Cost of Goods Sold as on 31^st Oct

3. As per the Cost Records, Account Balance for Work in Process Inventory, Finished Goods Inventory and Cost of Goods Sold as on 30^th Nov

To determine

Requirement 3

To Prepare: Journal Entries for recording the transfer from Work in Process account to finished goods account on completion of Job in Oct and Nov

To determine

Requirement 4

To Prepare: Journal Entry to Record sale of Job3 for $2,400

To determine

Requirement 5

To Determine: Gross Profit for Job 3

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 19, Problem P19.28APGA

To determine

Concept Introduction:

Job Costing: Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts.

Requirement1

To Determine:Costing system Brandon manufacturing using to maintain their cost records

To determine

Requirement 2

To Determine:

1. Brandon’s Manufacturing Jobs Status as on 31^st Oct and 30^th Nov

2. As per the cost records ,Account Balance of Work in Process inventory, Finished Goods Inventory and Cost of Goods Sold as on 31^st Oct

3. As per the Cost Records, Account Balance for Work in Process Inventory, Finished Goods Inventory and Cost of Goods Sold as on 30^th Nov

To determine

Requirement 3

To Prepare: Journal Entries for recording the transfer from Work in Process account to finished goods account on completion of Job in Oct and Nov

To determine

Requirement 4

To Prepare: Journal Entry to Record sale of Job3 for $2,400

To determine

Requirement 5

To Determine: Gross Profit for Job 3

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 19, Problem P19.28APGA

To determine

Concept Introduction:

Job Costing: Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts.

Requirement1

To Determine:Costing system Brandon manufacturing using to maintain their cost records

To determine

Requirement 2

To Determine:

1. Brandon’s Manufacturing Jobs Status as on 31^st Oct and 30^th Nov

2. As per the cost records ,Account Balance of Work in Process inventory, Finished Goods Inventory and Cost of Goods Sold as on 31^st Oct

3. As per the Cost Records, Account Balance for Work in Process Inventory, Finished Goods Inventory and Cost of Goods Sold as on 30^th Nov

To determine

Requirement 3

To Prepare: Journal Entries for recording the transfer from Work in Process account to finished goods account on completion of Job in Oct and Nov

To determine

Requirement 4

To Prepare: Journal Entry to Record sale of Job3 for $2,400

To determine

Requirement 5

To Determine: Gross Profit for Job 3

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 19, Problem P19.28APGA

To determine

Concept Introduction:

Job Costing: Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts.

Requirement1

To Determine:Costing system Brandon manufacturing using to maintain their cost records

To determine

Requirement 2

To Determine:

1. Brandon’s Manufacturing Jobs Status as on 31^st Oct and 30^th Nov

2. As per the cost records ,Account Balance of Work in Process inventory, Finished Goods Inventory and Cost of Goods Sold as on 31^st Oct

3. As per the Cost Records, Account Balance for Work in Process Inventory, Finished Goods Inventory and Cost of Goods Sold as on 30^th Nov

To determine

Requirement 3

To Prepare: Journal Entries for recording the transfer from Work in Process account to finished goods account on completion of Job in Oct and Nov

To determine

Requirement 4

To Prepare: Journal Entry to Record sale of Job3 for $2,400

To determine

Requirement 5

To Determine: Gross Profit for Job 3

Answer 6

Chapter 19, Problem P19.28APGA

To determine

Concept Introduction:

Job Costing: Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts.

Requirement1

To Determine:Costing system Brandon manufacturing using to maintain their cost records

Answer 7

Chapter 19, Problem P19.28APGA

To determine

Concept Introduction:

Job Costing: Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts.

Requirement1

To Determine:Costing system Brandon manufacturing using to maintain their cost records

Answer 8

To determine

Requirement 2

To Determine:

1. Brandon’s Manufacturing Jobs Status as on 31^st Oct and 30^th Nov

2. As per the cost records ,Account Balance of Work in Process inventory, Finished Goods Inventory and Cost of Goods Sold as on 31^st Oct

3. As per the Cost Records, Account Balance for Work in Process Inventory, Finished Goods Inventory and Cost of Goods Sold as on 30^th Nov

Answer 9

To determine

Requirement 2

To Determine:

1. Brandon’s Manufacturing Jobs Status as on 31^st Oct and 30^th Nov

2. As per the cost records ,Account Balance of Work in Process inventory, Finished Goods Inventory and Cost of Goods Sold as on 31^st Oct

3. As per the Cost Records, Account Balance for Work in Process Inventory, Finished Goods Inventory and Cost of Goods Sold as on 30^th Nov

Answer 10

To determine

Requirement 3

To Prepare: Journal Entries for recording the transfer from Work in Process account to finished goods account on completion of Job in Oct and Nov

Answer 11

To determine

Requirement 3

To Prepare: Journal Entries for recording the transfer from Work in Process account to finished goods account on completion of Job in Oct and Nov

Answer 12

To determine

Requirement 4

To Prepare: Journal Entry to Record sale of Job3 for $2,400

Answer 13

To determine

Requirement 4

To Prepare: Journal Entry to Record sale of Job3 for $2,400

Answer 14

To determine

Requirement 5

To Determine: Gross Profit for Job 3

Answer 15

To determine

Requirement 5

To Determine: Gross Profit for Job 3

Answer 16

Expert Solution & Answer

Answer 17

Expert Solution & Answer

Answer 18

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Answer 19

Ch. 19 - Prob. 1QC Ch. 19 - When a manufacturing company uses direct...Ch. 19 - When a manufacturing company uses indirect...Ch. 19 - When a manufacturing company uses direct labor, it...Ch. 19 - What is Gell's predetermined overhead allocation...Ch. 19 - What is Gell's actual manufacturing overhead cost?...Ch. 19 - How much manufacturing overhead would Gell...Ch. 19 - What entry would Gell make to adjust the...Ch. 19 - A manufacturing company completed work on a job....Ch. 19 - Prob. 10QC

Job Costing : Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts. Requirement1 To Determine: Costing system Brandon manufacturing using to maintain their cost records

Concept explainers

Videos

Concept Introduction:

Job Costing: Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts.

Requirement1

To Determine:Costing system Brandon manufacturing using to maintain their cost records

Requirement 3

To Prepare: Journal Entries for recording the transfer from Work in Process account to finished goods account on completion of Job in Oct and Nov

Requirement 4

To Prepare: Journal Entry to Record sale of Job3 for $2,400

Requirement 5

To Determine: Gross Profit for Job 3

Want to see the full answer?

Chapter 19 Solutions

Job Costing : Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts. Requirement1 To Determine: Costing system Brandon manufacturing using to maintain their cost records

Concept explainers

Videos

Concept Introduction: Job Costing: Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts. Requirement1 To Determine:Costing system Brandon manufacturing using to maintain their cost records

Requirement 3 To Prepare: Journal Entries for recording the transfer from Work in Process account to finished goods account on completion of Job in Oct and Nov

Requirement 4 To Prepare: Journal Entry to Record sale of Job3 for $2,400

Requirement 5 To Determine: Gross Profit for Job 3

Want to see the full answer?

Chapter 19 Solutions

Concept Introduction:

Job Costing: Job costing is one of method of costing. In this method cost are accumulated according to the jobs and contracts.

Requirement1

To Determine:Costing system Brandon manufacturing using to maintain their cost records

Requirement 3

To Prepare: Journal Entries for recording the transfer from Work in Process account to finished goods account on completion of Job in Oct and Nov

Requirement 4

To Prepare: Journal Entry to Record sale of Job3 for $2,400

Requirement 5

To Determine: Gross Profit for Job 3