Homework Answers
| No. | Date | Account titles and explanation | Debit | Credit |
| (1) | May 31 | Work in process inventory | $11610 | |
| Manufacturing overhead | $900 | |||
| Raw materials inventory | $12510 | |||
| (2) | May 31 | Work in process inventory | $13400 | |
| Manufacturing overhead | $1590 | |||
| Factory labor | $14990 | |||
| (3) | May 31 | Work in process ($13400*68%) | $9112 | |
| Manufacturing overhead | 9112 | |||
| (4) | May 31 | Finished goods inventory | $8648 | |
| Work in process inventory | $8648 |
Finished goods= Beginning balance+Direct materials+Direct labor+Manufacturing overhead applied
= $2150+2970+2100+(2100*68%)= $8648
| Work in Process Inventory | |||
| May 1 Balance | $3510 | May 31 | 8648 |
| May 31 | 11610 | ||
| May 31 | 13400 | ||
| May 31 | 9112 | ||
| May 31 | $28984 | ||
| Job Cost Sheets | |||||
| Job No. | Beginning Work in Process | Direct Materials | Direct Labor | Manufacturing Overhead | Total |
| 430 | $1360 | $4100 | $3200 | (3200*68%)= $2176 | $10836 |
| 431 | $0 | 4540 | 8100 | (8100*68%)= 5508 | 18148 |
| $1360 | $8640 | $11300 | $7684 | $28984 | |
Add Answer to:
Stine Company uses a job order cost system. On May 1, the company has a balance...
Stine Company uses a job order cost system. On May 1, the company has a balance...
Stine Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $4,240 and
two jobs in process: Job No. 429 $2,580, and Job No. 430 $1,660.
During May, a summary of source documents reveals the
following.
Job Number
Materials
Requisition Slips
Labor Time
Tickets
429
$3,040
$2,100
430
3,680
3,300
431
4,710
$11,430
8,100
$13,500
General use
940
1,360
$12,370
$14,860
Stine Company applies manufacturing overhead to jobs at...
Stine Company uses a job order cost system. On May 1, the company has a balance...
Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process process: Job No. 429 $ 2,370, and Job No. 430 $ 1,760. Durin Inventory of $ 4,130 and two jobs in s May, a summary of source documents reveals the following Materials Requisition Slps Labor Time Tickets Job Number 429 430 431 General use $3,090 $ 2,080 3,960 3,310 4,820 $11,870 8,180 $13,570 1,320 $14,890 960 $12,830 Stine Company applies...
Stine Company uses a job order cost system. On May 1, the company has a balance...
Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May, a summary of source documents reveals the following. Job Number Materials Requisition Slips Labor Time Tickets 429 $2,500 $1,900 430 3,500 3,000 431 4,400 $10,400 7,600 $12,500 General use 800 1,200 $11,200 $13,700 Stine Company applies manufacturing overhead to jobs at...
Exercise 15-02 Stine Company uses a job order cost system. On May 1, the company has...
Exercise 15-02 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,080 and two jobs in process: Job No. 429 $2,590, and Job No. 430 $1,490. During May, a summary of source documents reveals the following. Job Number 429 430 431 Materials Requisition Slips $2,870 3,660 4,500 $11,030 990 $12,020 Labor Time Tickets $2,100 3,600 7,700 $13,400 1,630 $15,030 General use Stine Company applies manufacturing overhead to...
Stine Company uses a job order cost system. On May 1, the company has a balance...
Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,240 and two jobs in process: Job No. 429 $2,580, and Job No. 430 $1,660. During May, a summary of source documents reveals the following Job Number 429 Materials Requisition Slips $3,040 3.680 4,710 $11.430 940 430 Labor Time Tickets $2,100 3,300 8,100 $13,500 1.360 $14,860 431 General use $12,370 Stine Company applies manufacturing overhead to jobs at...
Exercise 16-2 Stine Company uses a job order cost system. On May 1, the company has...
Exercise 16-2
Stine Company uses a job order cost system. On May 1, the company
has a balance in Work in Process Inventory of $3,500 and two jobs
in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May,
a summary of source documents reveals the following.
Job Number
Materials
Requisition Slips
Labor Time
Tickets
429
$2,500
$1,900
430
3,500
3,000
431
4,400
$10,400
7,600
$12,500
General use
800
1,200
$11,200
$13,700
Stine Company applies manufacturing overhead to...
Exercise 15-2 Stine Company uses a job order cost system. On May 1, the company has...
Exercise 15-2
Stine Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $3,920 and
two jobs in process: Job No. 429 $2,600, and Job No. 430 $1,320.
During May, a summary of source documents reveals the
following.
Prepare summary journal entries to record (1) the requisition
slips, (2) the time tickets, (3) the assignment of manufacturing
overhead to jobs, and (4) the completion of Job No. 429.
(Credit...
E2-2 Stine Company uses a job order cost system. On May 1, the company has a...
E2-2 Stine Company uses a job order cost system. On May 1, the company has a balance Prepare in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and manugfa Job No. 430 $1,500. During May, a summary of source documents reveals the following. (LO 1, 2 Materials Labor Time Tickets Job Number 429 430 431 General use Requisition Slips $2,500 3,500 4,400 $1,900 3,000 7,600 $10,400 800 $11,200 $12,500 1,200 $13,700 Stine Company...
Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has...
Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,650 and two jobs in process: Job No. 429 $2,290, and Job No. 430 $1,360. During May, a summary of source documents reveals the following. Materials Labor Time Tickets Job Number Requisition Slips 429 $2,950 $2,410 3,440 430 4,000 431 4,740 $11,690 8,080 $13,930 General use 900 1,750 $12,590 $15,680 Stine Company applies manufacturing overhead to...
E15.2 (LO 1, 2, 3, 4) Stine Company uses a job order cost system. On May...
E15.2 (LO 1, 2, 3, 4) Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May, a summary of source documents reveals the following. Materials Labor Job Number Requisition Slips Time Tickets 429 $2,500 3,500 4,400 $1,900 430 3,000 431 $10,400 $12,500 7,600 General use 800 1,200 $11,200 $13,700 Stine Company...
Stine Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $4,240 and
two jobs in process: Job No. 429 $2,580, and Job No. 430 $1,660.
During May, a summary of source documents reveals the
following.
Job Number
Materials
Requisition Slips
Labor Time
Tickets
429
$3,040
$2,100
430
3,680
3,300
431
4,710
$11,430
8,100
$13,500
General use
940
1,360
$12,370
$14,860
Stine Company applies manufacturing overhead to jobs at...
Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process process: Job No. 429 $ 2,370, and Job No. 430 $ 1,760. Durin Inventory of $ 4,130 and two jobs in s May, a summary of source documents reveals the following Materials Requisition Slps Labor Time Tickets Job Number 429 430 431 General use $3,090 $ 2,080 3,960 3,310 4,820 $11,870 8,180 $13,570 1,320 $14,890 960 $12,830 Stine Company applies...
Exercise 15-02 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,080 and two jobs in process: Job No. 429 $2,590, and Job No. 430 $1,490. During May, a summary of source documents reveals the following. Job Number 429 430 431 Materials Requisition Slips $2,870 3,660 4,500 $11,030 990 $12,020 Labor Time Tickets $2,100 3,600 7,700 $13,400 1,630 $15,030 General use Stine Company applies manufacturing overhead to...
Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,240 and two jobs in process: Job No. 429 $2,580, and Job No. 430 $1,660. During May, a summary of source documents reveals the following Job Number 429 Materials Requisition Slips $3,040 3.680 4,710 $11.430 940 430 Labor Time Tickets $2,100 3,300 8,100 $13,500 1.360 $14,860 431 General use $12,370 Stine Company applies manufacturing overhead to jobs at...
Exercise 16-2
Stine Company uses a job order cost system. On May 1, the company
has a balance in Work in Process Inventory of $3,500 and two jobs
in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May,
a summary of source documents reveals the following.
Job Number
Materials
Requisition Slips
Labor Time
Tickets
429
$2,500
$1,900
430
3,500
3,000
431
4,400
$10,400
7,600
$12,500
General use
800
1,200
$11,200
$13,700
Stine Company applies manufacturing overhead to...
Exercise 15-2
Stine Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $3,920 and
two jobs in process: Job No. 429 $2,600, and Job No. 430 $1,320.
During May, a summary of source documents reveals the
following.
Prepare summary journal entries to record (1) the requisition
slips, (2) the time tickets, (3) the assignment of manufacturing
overhead to jobs, and (4) the completion of Job No. 429.
(Credit...
E2-2 Stine Company uses a job order cost system. On May 1, the company has a balance Prepare in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and manugfa Job No. 430 $1,500. During May, a summary of source documents reveals the following. (LO 1, 2 Materials Labor Time Tickets Job Number 429 430 431 General use Requisition Slips $2,500 3,500 4,400 $1,900 3,000 7,600 $10,400 800 $11,200 $12,500 1,200 $13,700 Stine Company...
Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,650 and two jobs in process: Job No. 429 $2,290, and Job No. 430 $1,360. During May, a summary of source documents reveals the following. Materials Labor Time Tickets Job Number Requisition Slips 429 $2,950 $2,410 3,440 430 4,000 431 4,740 $11,690 8,080 $13,930 General use 900 1,750 $12,590 $15,680 Stine Company applies manufacturing overhead to...
E15.2 (LO 1, 2, 3, 4) Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May, a summary of source documents reveals the following. Materials Labor Job Number Requisition Slips Time Tickets 429 $2,500 3,500 4,400 $1,900 430 3,000 431 $10,400 $12,500 7,600 General use 800 1,200 $11,200 $13,700 Stine Company...
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