Homework Answers
D) $53,750
Explanation:
There are 2 methods to determine the work in process.
METHOD I:
Work-in-process will be sum total of the costs allocated to the jobs that are not complete at the end of the period. Therefore, work-in-process will be sum total of cost allocated to Job Z3 and Job Z4.
Work-in-process = $35,000 + $18,750
= $53,750
METHOD II:
We will calculate the cost transferred to the manufacturing process and then deduct the cost associated with the jobs completed to find out the work-in-process.
Total cost allocated to manufacturing process = Beginning work-in-progress + Material + Labor + Factory Overheads
= $20,000 + $27,500 + $37,500 + (150% of $37,500)
= $141,250
Cost allocated to completed jobs = Cost allocated to Job Z1 and Z2
= $32,500 + $55,000
= $87,500
Closing Work-in-process = Cost allocated to manufacturing process - cost allocated to completed jobs
= $141,250 - $87,500
= $53,750
Note: to solve the question in its spirit, December is assumed to be replaced with October. If we do not assume the same, it is not possible to solve the question.
Add Answer to:
25) Figure 5-5 (4pts) Tonneau Corporation had the following information available for October 2016: Work in...
Tonneau Corporation had the following information available for October 2016: Work in Process, October 1 $20,000...
Tonneau Corporation had the following information available for October 2016: Work in Process, October 1 $20,000 27,500 Materials placed into production, October Direct labor, October 37,500 Factory overhead rate is 150 percent of direct labor costs. Job cost sheets had the following balances: $32,500 Job ZI 55,000 Job Z2 35,000 Job Z3 Job 24 18,450 Jobs Z3 and Z4 were not completed at the end of December Refer to Figure 5-5. What is the balance in Work-in-Process for Tonneau at...
Kapanga Manufacturing Corporation uses a job-order costing system and started the month of October with a...
Kapanga Manufacturing Corporation uses a job-order costing system and started the month of October with a zero balance in its work in process and finished goods inventory accounts. During October Kapanga worked on three jobs and incurred the following direct costs on those jobs Direct materials Direct labor Job 318 $ 12,000 $ 8,000 Job 319 $ 25,000 $ 10,000 Job C11 $ 18,000 $ 5,000 Kapanga applies manufacturing overhead at a rate of 150% of direct labor cost. During...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job...
Techuxia Corporation worked on four jobs during October: Job
A256, Job A257, Job A258, and Job A260. At the end of October, the
job cost sheets for these jobs contained the following data:
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job A256 Job A257 Job A258 Job A260 $ 1,070 $ 630 $ $...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job...
Techuxia Corporation worked on four jobs during October: Job
A256, Job A257, Job A258, and Job A260. At the end of October, the
job cost sheets for these jobs contained the following data:
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job A256 Job A257 Job A258 Job A260 $ 1,020 $ 680 $ 0...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job A256 $1,010 Job Job A257 A258 $ 670 $ 0 Job A260 $ 0 Beginning balance Charged to the jobs during October: Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of October Units sold during October $ 2,790 $3,900...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job Job Job Job A256 A257 A258 A260 $1,100 $ 580 $0 $ 0 Beginning balance Charged to the jobs during October Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of October Units sold during October $2,860 $4,050 $1,580 $3,770...
Techuxia Corporation worked on four jobs during October. Job A256, Job A257, Job A258, and Job...
Techuxia Corporation worked on four jobs during October. Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job A256 Job A257 Job A258 Job A260 Beginning balance $ 970 $ 660 $ Charged to the jobs during October: Direct materials $2,820 $3,950 $1,440 $3,660 Direct labor $1,290 $ 950 $ 530 $ 360 Manufacturing overhead applied $4,616 $1,840 $3,366 $ 498 Units completed 202...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job A256 Job A257 Job A258 Job A260 Beginning balance $ 1,000 $ 660 $ 0 $ 0 Charged to the jobs during October: Direct materials $ 2,800 $ 4,020 $ 1,580 $ 3,790 Direct labor $ 1,170 $ 910 $ 620 $ 320 Manufacturing overhead applied...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job A256 Job A257 Job A258 Job A260 Beginning balance $ 1,020 $ 510 $ 0 $ 0 Charged to the jobs during October: Direct materials $ 2,800 $ 3,990 $ 1,470 $ 3,630 Direct labor $ 1,170 $ 850 $ 510 $ 360 Manufacturing overhead applied...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $190,000 ($152,000 direct materials and $38,000 indirect materials) c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $131,000 f The company applies manufacturing overhead cost to production using a predetermined rate of $8 per...
Tonneau Corporation had the following information available for October 2016: Work in Process, October 1 $20,000 27,500 Materials placed into production, October Direct labor, October 37,500 Factory overhead rate is 150 percent of direct labor costs. Job cost sheets had the following balances: $32,500 Job ZI 55,000 Job Z2 35,000 Job Z3 Job 24 18,450 Jobs Z3 and Z4 were not completed at the end of December Refer to Figure 5-5. What is the balance in Work-in-Process for Tonneau at...
Kapanga Manufacturing Corporation uses a job-order costing system and started the month of October with a zero balance in its work in process and finished goods inventory accounts. During October Kapanga worked on three jobs and incurred the following direct costs on those jobs Direct materials Direct labor Job 318 $ 12,000 $ 8,000 Job 319 $ 25,000 $ 10,000 Job C11 $ 18,000 $ 5,000 Kapanga applies manufacturing overhead at a rate of 150% of direct labor cost. During...
Techuxia Corporation worked on four jobs during October: Job
A256, Job A257, Job A258, and Job A260. At the end of October, the
job cost sheets for these jobs contained the following data:
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job A256 Job A257 Job A258 Job A260 $ 1,070 $ 630 $ $...
Techuxia Corporation worked on four jobs during October: Job
A256, Job A257, Job A258, and Job A260. At the end of October, the
job cost sheets for these jobs contained the following data:
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job A256 Job A257 Job A258 Job A260 $ 1,020 $ 680 $ 0...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job A256 $1,010 Job Job A257 A258 $ 670 $ 0 Job A260 $ 0 Beginning balance Charged to the jobs during October: Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of October Units sold during October $ 2,790 $3,900...
Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job Job Job Job A256 A257 A258 A260 $1,100 $ 580 $0 $ 0 Beginning balance Charged to the jobs during October Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of October Units sold during October $2,860 $4,050 $1,580 $3,770...
Techuxia Corporation worked on four jobs during October. Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job A256 Job A257 Job A258 Job A260 Beginning balance $ 970 $ 660 $ Charged to the jobs during October: Direct materials $2,820 $3,950 $1,440 $3,660 Direct labor $1,290 $ 950 $ 530 $ 360 Manufacturing overhead applied $4,616 $1,840 $3,366 $ 498 Units completed 202...
The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $190,000 ($152,000 direct materials and $38,000 indirect materials) c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $131,000 f The company applies manufacturing overhead cost to production using a predetermined rate of $8 per...
Most questions answered within 3 hours.
-
1. What is the meaning of the term communication style?
2. What are the benefits to...
asked 22 minutes ago -
9.) You are buying a car that cost $26,500. You make payments of
$412 each month...
asked 47 minutes ago -
. Suppose a discrete random variable has probability
distribution
P(x) = .2 if x = 0...
asked 2 hours ago -
Problem #1
The area between Z = 0 and Z = 2.50
The area between Z...
asked 1 hour ago -
Under the influence of its drive force, a snowmobile is moving
at a constant velocity along...
asked 2 hours ago -
Why do organizations decline? What steps can top
management take to halt, decline, and restore organizational...
asked 2 hours ago -
What mechanisms Drive speciation??
(I.e. what was Dawins theory on the orgin of species, and how...
asked 3 hours ago -
The manager at a car assembly plant believes that the mean
assembly time for a car...
asked 4 hours ago -
Which of the following is true of electron capture?
A) It decreases the nuclide's mass number...
asked 6 hours ago -
Assuming an efficiency of 43.10%, calculate the actual yield of
magnesium nitrate formed from 114.9 g...
asked 6 hours ago -
The highly pathogenic bacterium Clostridium
perfringens causes gangrene, a disease that results in the
destruction of...
asked 8 hours ago -
In the context of situation analysis, which of the following is
a category for analysis in...
asked 8 hours ago