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

Question

Want to see the full answer?

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

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Accounts Receivable had a balance of $1,500 at the beginning of the month and $1,200 at the end of the month. Credit sales totaled $12,600 during the month. Calculate the cash collected from customers during the month, assuming that all sales were made on account.

Problem related financial Accounting 13

Can you please solve this financial accounting question?

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

Want to see the full answer?

Check out a sample textbook solution

See solution

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