Cost flow in Job Costing : The Cost flow in Job costing is reflects the flow of cost ass part from raw material, labour, and overheads charged to jobs work in process inventory and then when completed such jobs are transferred to finished goods as ready for sale. When actually sold shall be transferred to cost of goods sold. Requirement1: The Pre-determined overheads rate based on labour cost.

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Answer 1

Question

Chapter 19, Problem P19.36BPGB

To determine

Cost flow in Job Costing:

The Cost flow in Job costing is reflects the flow of cost ass part from raw material, labour, and overheads charged to jobs work in process inventory and then when completed such jobs are transferred to finished goods as ready for sale. When actually sold shall be transferred to cost of goods sold.

Requirement1:

The Pre-determined overheads rate based on labour cost.

To determine

Requirement2:

The Journal entries for various transaction taken place.

To determine

Requirement3:

The T-accounts of work in process and finished goods account.

To determine

Requirement 4&5:

The Cost of Unfinished and unsold jobs to be reconciled by adding the cost in each job.

To determine

Requirement 5:

The Gross profit earned.

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Answer 2

Question

Chapter 19, Problem P19.36BPGB

To determine

Cost flow in Job Costing:

The Cost flow in Job costing is reflects the flow of cost ass part from raw material, labour, and overheads charged to jobs work in process inventory and then when completed such jobs are transferred to finished goods as ready for sale. When actually sold shall be transferred to cost of goods sold.

Requirement1:

The Pre-determined overheads rate based on labour cost.

To determine

Requirement2:

The Journal entries for various transaction taken place.

To determine

Requirement3:

The T-accounts of work in process and finished goods account.

To determine

Requirement 4&5:

The Cost of Unfinished and unsold jobs to be reconciled by adding the cost in each job.

To determine

Requirement 5:

The Gross profit earned.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 19, Problem P19.36BPGB

To determine

Cost flow in Job Costing:

The Cost flow in Job costing is reflects the flow of cost ass part from raw material, labour, and overheads charged to jobs work in process inventory and then when completed such jobs are transferred to finished goods as ready for sale. When actually sold shall be transferred to cost of goods sold.

Requirement1:

The Pre-determined overheads rate based on labour cost.

To determine

Requirement2:

The Journal entries for various transaction taken place.

To determine

Requirement3:

The T-accounts of work in process and finished goods account.

To determine

Requirement 4&5:

The Cost of Unfinished and unsold jobs to be reconciled by adding the cost in each job.

To determine

Requirement 5:

The Gross profit earned.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 19, Problem P19.36BPGB

To determine

Cost flow in Job Costing:

The Cost flow in Job costing is reflects the flow of cost ass part from raw material, labour, and overheads charged to jobs work in process inventory and then when completed such jobs are transferred to finished goods as ready for sale. When actually sold shall be transferred to cost of goods sold.

Requirement1:

The Pre-determined overheads rate based on labour cost.

To determine

Requirement2:

The Journal entries for various transaction taken place.

To determine

Requirement3:

The T-accounts of work in process and finished goods account.

To determine

Requirement 4&5:

The Cost of Unfinished and unsold jobs to be reconciled by adding the cost in each job.

To determine

Requirement 5:

The Gross profit earned.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 19, Problem P19.36BPGB

To determine

Cost flow in Job Costing:

The Cost flow in Job costing is reflects the flow of cost ass part from raw material, labour, and overheads charged to jobs work in process inventory and then when completed such jobs are transferred to finished goods as ready for sale. When actually sold shall be transferred to cost of goods sold.

Requirement1:

The Pre-determined overheads rate based on labour cost.

To determine

Requirement2:

The Journal entries for various transaction taken place.

To determine

Requirement3:

The T-accounts of work in process and finished goods account.

To determine

Requirement 4&5:

The Cost of Unfinished and unsold jobs to be reconciled by adding the cost in each job.

To determine

Requirement 5:

The Gross profit earned.

Answer 6

Chapter 19, Problem P19.36BPGB

To determine

Cost flow in Job Costing:

The Cost flow in Job costing is reflects the flow of cost ass part from raw material, labour, and overheads charged to jobs work in process inventory and then when completed such jobs are transferred to finished goods as ready for sale. When actually sold shall be transferred to cost of goods sold.

Requirement1:

The Pre-determined overheads rate based on labour cost.

Answer 7

Chapter 19, Problem P19.36BPGB

To determine

Cost flow in Job Costing:

The Cost flow in Job costing is reflects the flow of cost ass part from raw material, labour, and overheads charged to jobs work in process inventory and then when completed such jobs are transferred to finished goods as ready for sale. When actually sold shall be transferred to cost of goods sold.

Requirement1:

The Pre-determined overheads rate based on labour cost.

Answer 8

To determine

Requirement2:

The Journal entries for various transaction taken place.

Answer 9

To determine

Requirement2:

The Journal entries for various transaction taken place.

Answer 10

To determine

Requirement3:

The T-accounts of work in process and finished goods account.

Answer 11

To determine

Requirement3:

The T-accounts of work in process and finished goods account.

Answer 12

To determine

Requirement 4&5:

The Cost of Unfinished and unsold jobs to be reconciled by adding the cost in each job.

Answer 13

To determine

Requirement 4&5:

The Cost of Unfinished and unsold jobs to be reconciled by adding the cost in each job.

Answer 14

To determine

Requirement 5:

The Gross profit earned.

Answer 15

To determine

Requirement 5:

The Gross profit earned.

Answer 16

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Answer 17

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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

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Requirement2:

The Journal entries for various transaction taken place.

Requirement3:

The T-accounts of work in process and finished goods account.

Requirement 4&5:

The Cost of Unfinished and unsold jobs to be reconciled by adding the cost in each job.

Requirement 5:

The Gross profit earned.

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Chapter 19 Solutions

Concept explainers

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Requirement2: The Journal entries for various transaction taken place.

Requirement3: The T-accounts of work in process and finished goods account.

Requirement 4&5: The Cost of Unfinished and unsold jobs to be reconciled by adding the cost in each job.

Requirement 5: The Gross profit earned.

Want to see the full answer?

Chapter 19 Solutions

Requirement2:

The Journal entries for various transaction taken place.

Requirement3:

The T-accounts of work in process and finished goods account.

Requirement 4&5:

The Cost of Unfinished and unsold jobs to be reconciled by adding the cost in each job.

Requirement 5:

The Gross profit earned.