Job order costing : Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To compute : Predetermined overhead rate for 2020.

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Answer 1

Question

Chapter 20, Problem 1PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate for 2020.

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The job cost sheet for Jobs 50, 51, and 52.

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred.

d.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred, use overhead rate.

e.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries on completion of Job 50 and 51.

f.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for sale goods during the month.

g.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The cost of ending inventory.

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Please give correct answer this financial accounting question

The Caldwell Division's operating data for the year 2019 is as follows: • Return on investment = 14% • • • Minimum required rate of return = 11% Average net operating assets = $620,000 Sales $2,100,000 = Compute the margin for 2019.

Financial accounting

Answer 2

Question

Chapter 20, Problem 1PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate for 2020.

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The job cost sheet for Jobs 50, 51, and 52.

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred.

d.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred, use overhead rate.

e.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries on completion of Job 50 and 51.

f.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for sale goods during the month.

g.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The cost of ending inventory.

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Answer 3

Question

Chapter 20, Problem 1PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate for 2020.

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The job cost sheet for Jobs 50, 51, and 52.

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred.

d.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred, use overhead rate.

e.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries on completion of Job 50 and 51.

f.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for sale goods during the month.

g.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The cost of ending inventory.

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Answer 4

Question

Chapter 20, Problem 1PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate for 2020.

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The job cost sheet for Jobs 50, 51, and 52.

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred.

d.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred, use overhead rate.

e.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries on completion of Job 50 and 51.

f.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for sale goods during the month.

g.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The cost of ending inventory.

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Answer 5

Chapter 20, Problem 1PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate for 2020.

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The job cost sheet for Jobs 50, 51, and 52.

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred.

d.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred, use overhead rate.

e.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries on completion of Job 50 and 51.

f.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for sale goods during the month.

g.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The cost of ending inventory.

Answer 6

Chapter 20, Problem 1PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate for 2020.

Answer 7

Chapter 20, Problem 1PSA

a.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate for 2020.

Answer 8

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The job cost sheet for Jobs 50, 51, and 52.

Answer 9

b.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The job cost sheet for Jobs 50, 51, and 52.

Answer 10

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred.

Answer 11

c.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred.

Answer 12

d.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred, use overhead rate.

Answer 13

d.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for raw materials, factory labor costs incurred and manufacturing overhead costs incurred, use overhead rate.

Answer 14

e.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries on completion of Job 50 and 51.

Answer 15

e.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries on completion of Job 50 and 51.

Answer 16

f.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for sale goods during the month.

Answer 17

f.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for sale goods during the month.

Answer 18

g.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The cost of ending inventory.

Answer 19

g.

To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The cost of ending inventory.

Answer 20

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Answer 21

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Answer 22

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Answer 23

Ch. 20 - Prob. 1Q Ch. 20 - Prob. 2Q Ch. 20 - Prob. 3Q Ch. 20 - Prob. 4Q Ch. 20 - Prob. 5Q Ch. 20 - Prob. 6Q Ch. 20 - Prob. 7Q Ch. 20 - Prob. 8Q Ch. 20 - Prob. 9Q Ch. 20 - Prob. 10Q

Job order costing : Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To compute : Predetermined overhead rate for 2020.

Solution Summary: The author explains that job order costing is a cost evaluation method that considers each job separate and assigns costs to them.

Concept explainers

Videos

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate for 2020.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The job cost sheet for Jobs 50, 51, and 52.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries on completion of Job 50 and 51.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for sale goods during the month.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The cost of ending inventory.

Want to see the full answer?

Chapter 20 Solutions

Job order costing : Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To compute : Predetermined overhead rate for 2020.

Solution Summary: The author explains that job order costing is a cost evaluation method that considers each job separate and assigns costs to them.

Concept explainers

Videos

Job order costing: Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To compute: Predetermined overhead rate for 2020.

Job order costing: Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To prepare: The job cost sheet for Jobs 50, 51, and 52.

Job order costing: Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To prepare: The journal entries on completion of Job 50 and 51.

Job order costing: Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To prepare: The journal entries for sale goods during the month.

Job order costing: Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement. To compute: The cost of ending inventory.

Want to see the full answer?

Chapter 20 Solutions

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: Predetermined overhead rate for 2020.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The job cost sheet for Jobs 50, 51, and 52.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries on completion of Job 50 and 51.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assigns costs to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To prepare: The journal entries for sale goods during the month.

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To compute: The cost of ending inventory.