Please show calculations on how to get an answer for
support for #17, #24, and #29 
Homework Answers
| 17) | Cost Of Goods Sold | |||
| Job 124 | $ 1,700 | |||
| Job 125 | $ 1,500 | |||
| Total | $ 3,200 | |||
| Work In progress | ||||
| Job 126 | $ 900 | |||
| Correct Option: A | ||||
| 18) | ||||
| Finished Goods (71000+93000-76000) | 88000 | |||
| Add: | ||||
| End WIP | 87000 | |||
| Less: | ||||
| Beg Balance | 60000 | |||
| OH | 70000 | |||
| (Direct Labor + Direct Materials) | 45000 | |||
| Direct Labor = 2 Direct Materials | ||||
| Therefore Direct labor = $45000/3*2 | ||||
| =$30000 | ||||
| Correct Option: E | ||||
| 29) | ||||
| Beg WIP | $ 55,000 | |||
| Add: | ||||
| Direct material | $ 77,000 | |||
| Direct Labor | $ 44,000 | |||
| Factory OH | $ 15,400 | |||
| Less: | ||||
| Transfer to next dept | $ 66,000 | |||
| Ending WIP | $ 1,25,400 | |||
| Correct Option: D | ||||
| Please upvote. | ||||
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Please show calculations on how to get an answer for
support for #17, #24, and #29...
Job No. 125 was completed during May and Jobs No. 124 and 125 were shipped to customers in May
The job order cost sheets used by Garza Company revealed the following: Job. No.Bal. May 1May Production Costs124$1,700$--1251,200300126-900Job No. 125 was completed during May and Jobs No. 124 and 125 were shipped to customers in May. What was the company's cost of goods sold for May and the goods in process inventory on May 31? A. $3,200; $ 900. B. $2,900; $1,200. C. $1,200; $2,900. D. $1,700; $1,200. E. $4,100; $ 0.
Job No. 135 was completed during May and Jobs No. 134 and 135 were shipped to customers in May. What was the company's cost of goods sold for May and the Work in Process inventory on May 31?
Question 39 The job order cost sheets used by Greene Company revealed the following:Job. No.Bal., May 1May Production Costs134$1,700$01351,2003001360900Job No. 135 was completed during May and Jobs No. 134 and 135 were shipped to customers in May. What was the company's cost of goods sold for May and the Work in Process inventory on May 31?Question 38 The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it was assigned the following costs:...
Please show calculations on how you obtained the answers for support. 18 Required information [The following...
Please show calculations on how you obtained the answers
for support.
18 Required information [The following information applies to the questions displayed below.) Part 1 of 4 0.47 points Widmer Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May follows. a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the following materials for the month. eBook Print References $ 50,000 33,000 20,200 23,000 6,800 Job 136 Job 137...
Question 39 The job order cost sheets used by Greene Company revealed the following Job. No. May Production Costs...
Question 39 The job order cost sheets used by Greene Company revealed the following Job. No. May Production Costs 134 Bal., May 1 $1,700 1.200 300 135 136 Job No. 135 was completed during May and Jobs Ne 131 and 135 were shape to customer May. What was the company's cost of goods sold for My and the balance a rtin Proces inventory on May 312 $3.200, 5900 $2,900: $1.200 $1.200:52,900 $1.700:51.200 $4,100.0 2 pts Question 38 The Fabricating Department...
Problem 4-17 Cost Flows (LO 4-1) Lubricants, Inc., produces a special kind of grease that is...
Problem 4-17 Cost Flows (LO 4-1) Lubricants, Inc., produces a special kind of grease that is widely used by race car drivers. The grease is produced in two processing departments: Refining and Blending. Raw materials are introduced at various points in the Refining Department. The following incomplete Work in Process account is available for the Refining Department for March: Work in Process-Refining Department Completed and transferred to Blending March 1 balance Materials Direct labor Overhead 32.400 139,600 68,200 489,000 March...
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage...
Christopher’s Custom Cabinet Company uses a job order cost
system with overhead applied as a percentage of direct labor costs.
Inventory balances at the beginning of 2018 follow:
Raw Materials Inventory
$
16,300
Work in Process Inventory
5,100
Finished Goods Inventory
21,600
The following transactions occurred during January:
(a) Purchased materials on account for $27,800.
(b) Issued materials to production totaling $21,700, 90
percent of which was traced to specific jobs and the remainder of
which was treated as indirect...
Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage...
Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2018 follow: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $16,400 6 ,000 20,700 The following transactions occurred during January: (a) Purchased materials on account for $27,500. (b) Issued materials to production totaling $21,000, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect...
Please show calculations on how you obtained the answers for support. Required information [The following information...
Please show calculations on how you obtained the answers
for support.
Required information [The following information applies to the questions displayed below.] art 1 of 4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. 47 pints April 30 May 31 $ $ 47,000 10,000 62,000 35,000 20,400 33,400 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory...
Chelsea Household Renovations (CHR) is a rapidly growing company that has not been profitable despite increases...
Chelsea Household Renovations (CHR) is a rapidly growing company that has not been profitable despite increases in sales. It has hired you as a consultant to find ways to improve profitability. You believe that the problem results from poor cost control and inaccurate cost estimation on jobs. The company has essentially no accounting system from which to collect data. You are able, however, to piece together the following information for June. Production 1. Completed Job 61. 2. Started and completed...
Froya Fabrikker A/S of Bergen, Norway, is a small company that manufactures specialty heavy equipment for...
Froya Fabrikker A/S of Bergen, Norway, is a small company that
manufactures specialty heavy equipment for use in North Sea oil
fields. The company uses a job-order costing system that applies
manufacturing overhead cost to jobs on the basis of direct
labor-hours. Its predetermined overhead rate was based on a cost
formula that estimated $349,800 of manufacturing overhead for an
estimated allocation base of 1,060 direct labor-hours. The
following transactions took place during the year:
Raw materials purchased on account,...
Please show calculations on how you obtained the answers
for support.
18 Required information [The following information applies to the questions displayed below.) Part 1 of 4 0.47 points Widmer Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May follows. a. Purchased raw materials on credit, $220,000. b. Materials requisitions record use of the following materials for the month. eBook Print References $ 50,000 33,000 20,200 23,000 6,800 Job 136 Job 137...
Question 39 The job order cost sheets used by Greene Company revealed the following Job. No. May Production Costs 134 Bal., May 1 $1,700 1.200 300 135 136 Job No. 135 was completed during May and Jobs Ne 131 and 135 were shape to customer May. What was the company's cost of goods sold for My and the balance a rtin Proces inventory on May 312 $3.200, 5900 $2,900: $1.200 $1.200:52,900 $1.700:51.200 $4,100.0 2 pts Question 38 The Fabricating Department...
Problem 4-17 Cost Flows (LO 4-1) Lubricants, Inc., produces a special kind of grease that is widely used by race car drivers. The grease is produced in two processing departments: Refining and Blending. Raw materials are introduced at various points in the Refining Department. The following incomplete Work in Process account is available for the Refining Department for March: Work in Process-Refining Department Completed and transferred to Blending March 1 balance Materials Direct labor Overhead 32.400 139,600 68,200 489,000 March...
Christopher’s Custom Cabinet Company uses a job order cost
system with overhead applied as a percentage of direct labor costs.
Inventory balances at the beginning of 2018 follow:
Raw Materials Inventory
$
16,300
Work in Process Inventory
5,100
Finished Goods Inventory
21,600
The following transactions occurred during January:
(a) Purchased materials on account for $27,800.
(b) Issued materials to production totaling $21,700, 90
percent of which was traced to specific jobs and the remainder of
which was treated as indirect...
Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2018 follow: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $16,400 6 ,000 20,700 The following transactions occurred during January: (a) Purchased materials on account for $27,500. (b) Issued materials to production totaling $21,000, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect...
Please show calculations on how you obtained the answers
for support.
Required information [The following information applies to the questions displayed below.] art 1 of 4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. 47 pints April 30 May 31 $ $ 47,000 10,000 62,000 35,000 20,400 33,400 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory...
Chelsea Household Renovations (CHR) is a rapidly growing company that has not been profitable despite increases in sales. It has hired you as a consultant to find ways to improve profitability. You believe that the problem results from poor cost control and inaccurate cost estimation on jobs. The company has essentially no accounting system from which to collect data. You are able, however, to piece together the following information for June. Production 1. Completed Job 61. 2. Started and completed...
Froya Fabrikker A/S of Bergen, Norway, is a small company that
manufactures specialty heavy equipment for use in North Sea oil
fields. The company uses a job-order costing system that applies
manufacturing overhead cost to jobs on the basis of direct
labor-hours. Its predetermined overhead rate was based on a cost
formula that estimated $349,800 of manufacturing overhead for an
estimated allocation base of 1,060 direct labor-hours. The
following transactions took place during the year:
Raw materials purchased on account,...
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