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 : Equivalent units

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Answer 1

Question

Chapter 21, Problem 5PSA

a.

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: Equivalent units

b.

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 assigning of costs.

c.

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 prepare: The production cost sheet.

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Financial accounting question

During FY 2005 T-REX Manufacturing had total manufacturing costs are $418,000. Their cost of goods manufactured for the year was $448,000. The January 1, 2006 balance of the Work-in-Process Inventory is $49,000. Use this information to determine the dollar amount of the FY 2005 beginning Work-in-Process Inventory. Answer

Cooper Audio Systems produces car sound systems. Estimated sales (in units) are 45,000 in April, 38,000 in May, and 36,500 in June. Each unit is priced at $75. Cooper wants to have 40% of the following month's sales in ending inventory. That requirement was met on April 1. Each sound system requires 4 speakers and 10 feet of wiring. Speakers cost $6 each, and wiring is $0.50 per foot. Cooper wants to have 25% of the following month's production needs in ending raw materials inventory. On April 1, Cooper had 30,000 speakers and 95,000 feet of wire in inventory. What is Cooper's expected sales revenue for May?

Answer 2

Question

Chapter 21, Problem 5PSA

a.

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: Equivalent units

b.

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 assigning of costs.

c.

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 prepare: The production cost sheet.

Expert Solution & Answer

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Answer 3

Question

Chapter 21, Problem 5PSA

a.

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: Equivalent units

b.

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 assigning of costs.

c.

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 prepare: The production cost sheet.

Expert Solution & Answer

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See solution

Answer 4

Question

Chapter 21, Problem 5PSA

a.

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: Equivalent units

b.

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 assigning of costs.

c.

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 prepare: The production cost sheet.

Expert Solution & Answer

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Answer 5

Chapter 21, Problem 5PSA

a.

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: Equivalent units

b.

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 assigning of costs.

c.

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 prepare: The production cost sheet.

Answer 6

Chapter 21, Problem 5PSA

a.

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: Equivalent units

Answer 7

Chapter 21, Problem 5PSA

a.

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: Equivalent units

Answer 8

b.

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 assigning of costs.

Answer 9

b.

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 assigning of costs.

Answer 10

c.

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 prepare: The production cost sheet.

Answer 11

c.

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 prepare: The production cost sheet.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 21 - Prob. 1Q Ch. 21 - Prob. 2Q Ch. 21 - Prob. 3Q Ch. 21 - Prob. 4Q Ch. 21 - Prob. 5Q Ch. 21 - Prob. 6Q Ch. 21 - Prob. 7Q Ch. 21 - Prob. 8Q Ch. 21 - Prob. 9Q Ch. 21 - Prob. 10Q

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 : Equivalent units

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

Videos

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: Equivalent units

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 assigning of costs.

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 prepare: The production cost sheet.

Want to see the full answer?

Chapter 21 Solutions

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 : Equivalent units

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

Videos

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: Equivalent units

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 assigning of costs.

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 prepare: The production cost sheet.

Want to see the full answer?

Chapter 21 Solutions

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: Equivalent units

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 assigning of costs.

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 prepare: The production cost sheet.