Ensign Landscape Design designs landscape plans and plants the material for clients. On April 1, there were three jobs in process, Jobs 39, 40, and 41. During April, two more jobs were started, Jobs 42 and 43. By April 30, Jobs 40, 41, and 43 were completed and sold. The following data were gathered:
Job 39 | Job 40 | Job 41 | Job 42 | Job 43 | |
Balance, April 1 | $570 | $3,430 | $2,990 | — | — |
Direct materials | 750 | 520 | 350 | $3,540 | $6,870 |
Direct labor | 470 | 580 | 520 | 2,460 | 2,960 |
Overhead is applied at the rate of 110% of direct labor cost. Jobs are sold at cost plus 30%. Selling and administrative expenses for April totaled $4,525. (Round all amounts to the nearest dollar.)
Required: | |
1. | Prepare job-order cost sheets for each job as of April 30. |
2. | Calculate the ending balance in Work in Process (as of April 30) and Cost of Goods Sold for April. |
3. | Construct an income statement for Ensign Landscape Design for the month of April. |
No. 3 is the only question I got partially correct. I need to fix the answers for the square boxes with red color, but I do not know what to do anymore. please help.
All amounts need to be rounded to nearest dollar | |
Income Statement | |
For the Month Ended April 30 | |
Sales | 29492 |
Cost of goods sold | 22686 |
Gross margin | 6806 |
Less: | |
Selling and administrative expenses | 4525 |
Operating income | 2281 |
Ensign Landscape Design designs landscape plans and plants the material for clients. On April 1, there...
Instructions Ensign Landscape Design designs landscape plans and plants the material for clients. On April 1, there were three jobs in prodals, Jobs 39, 40, and 41. During April, two more jobs were started, Jobs 42 and 43. By April 30, Jobs 40, 41, and 43 were completed and sold. The following data were gathered: Job 39 Job 40 Job 41 Job 42 Job 43 Balance, April 1 $520 $3,350 $2,990 Direct materials 730 530 370 $3,510 2,470 $6,850 3,000...
Ensign Landscape Design designs landscape plans and plants the material for clients. On April 1, there were three jobs in process, Jobs 39, 40, and 41. During April, two more jobs were started, Jobs 42 and 43. By April 30, Jobs 40, 41, and 43 were completed and sold. The following data were gathered: Job 39 Job 40 Job 41 Job 42 Job 43 Balance, April 1 $570 $3,450 $3,000 - Direct materials 690 600 410 520 $3,520 $6,880 2,550...
Ensign Landscape Design designs landscape plans and plants the material for clients. On April 1, there were three jobs in process, Jobs 39, 40, and 41. During April, two more jobs were started, Jobs 42 and 43. By April 30, Jobs 40, 41, and 43 were completed and sold. The following data were gathered: Job 39 Job 40 Job 41 Job 42 Job 43 Balance, April 1 $500 $3,370 $3,010 — — Direct materials 650 530 350 $3,450 $6,890 Direct...
Ensign Landscape Design designs landscape plans and plants the materials for clients. On April 1, there were three jobs in process - Job 39, 40 and 41. During April, two more jobs were started 42 and 43. By April 30, Jobs 39 and 40 were completed and sold; Jobs 41 and 42 were completed and not sold; and Job 43 was not completed. Direct labor is $10/hour. Overhead is applied at the rate of $32 per direct labor hour. Jobs...
Instructions Ensign Landscape Design design landscape plans and plants the material for clients. On April 1, there were three jobs in prooess, Jobs 39, 40, and 41. During April, two more jobs were started, Jobs 42 and 43. By April 30, Jobs 40, 41, and 43 were completed and sold. The following data were gathered: Job 39 Job 40 Job 41 Job 42 Job 43 Balance, April 1 5540 $3,400 $2,990 Direct materials 700 560 375 $3,500 50,000 Direct labor...
Ensign Landscape Design designs landscape plans and plants the material for clients. On April 1, there were three jobs in process, Jobs 39, 40, and 41. During April, two more jobs were started, Jobs 42 and 43. By April 30, Jobs 40, 41, and 43 were completed and sold. The following data were gathered: Job 39 Job 40 Job 41 Job 42 Job 43 Balance, April 1 $570 $3,380 $3,010 — — Direct materials 740 610 370 $3,450 $6,880 Direct...
Ensign Landscape Dosign designs landscape plans and plants the material for more jobs were started, Jobs 42 and 43. By April 30. Ihsan and w o mpleted and sold. The following data word game monts. On April 1, there were throo jobs in process, Jobs 39, 40, and 41. During April, two Job 39 Job 40 Job 41 Job 42 Job 43 Balance, April 1 $570 $3,450 $3,000 Direct materials 690 600 410 $3,520 $6,880 Direct labor 520 590 520...
Exercise 4-49: Assume Direct Labor workers make $20 per hour, so with the given labor cost per job, you can determine the number of hours worked. CHANGE the Exercise to say that Overhead is applied at the rate of $32 per direct labor hour. ALSO CHANGE to say that Job #39 and Job #40 were completed and sold, while Job #41 and Job #42 are complete but not sold, and Job #43 is not completed yet. Ensign Landscape Design designs...
Job Costs Using a Plantwide Overhead Rate Naranjo Company
designs industrial prototypes for outside companies. Budgeted
overhead for the year was $180,000, and budgeted direct labor hours
were 18,000. The average wage rate for direct labor is expected to
be $20 per hour. During June, Naranjo Company worked on four jobs.
Data relating to these four jobs follow: Job 39 Job 40 Job 41 Job
42 Beginning balance $26,600 $34,200 $15,600 $1,700 Materials
requisitioned 16,700 23,400 10,800 12,100 Direct labor...
Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year was $490,000, and budgeted direct labor hours were 28,000. The average wage rate for direct labor is expected to be $35 per hour. During June, Naranjo Company worked on four jobs. Data relating to these four jobs follow: Job 39 Job 40 Job 41 Job 42 $0 Beginning balance Materials requisitioned Direct labor cost 24,600 $35,500 $15,000 20,300 22,000 11,300 15,500 11,400 19,100 5,90 6,400 Overhead is...