1.
Raw Materials Inventory | |||
Beg. bal. | 15,000 | b. | 21,400 |
a. | 27,100 | ||
End. bal. | 20,700 | ||
Work in Process Inventory | |||
Beg. bal. | 5,600 | h. | 49,660 |
b. | 19,260 | ||
c. | 11,100 | ||
g. | 22,200 | ||
End. bal. | 8,500 | ||
Finished Goods Inventory | |||
Beg. bal. | 21,200 | i. | 51,700 |
h. | 49,660 | ||
End. bal. | 19,160 | ||
Cost of Goods Sold | |||
Beg. bal. | 0 | ||
i. | 51,700 | ||
Manufacturing Overhead | |||
Beg. bal. | 0 | g. | 22,200 |
b. | 2,140 | ||
c. | 2,800 | ||
d. | 4,600 | ||
e. | 760 | ||
f. | 5,300 | ||
Total | 15,600 | ||
Bal. | 6,600 | ||
22,200 | |||
Selling, General and Administrative Expenses | |||
Beg. bal. | 0 | ||
c. | 3,900 | ||
d. | 1,200 | ||
e. | 1,140 | ||
6,240 | |||
Sales Revenue | |||
Beg. bal. | 0 | ||
i. | 67,210 | ||
67,210 |
2.
Unadjusted Gross Profit | $ 15,510 |
Gross profit = $ 67,210 - $ 51,700 = $ 15,510
3.
Manufacturing Overhead | $ 6,600 | overapplied |
4.
Adjusted Gross Profit | $ 22,110 |
Christopher's Custom Cabinet Company uses a job order cost system with ove Inventory balances at the...
Christiopher's Custom Cabinet Company uses a job... 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 $16,800 5,500 21,800 The following transactions occurred during January: (a) Purchased materials on account for $26,200. (b) Issued materials to production totaling $20,400, 90 percent of which was traced to specific jobs and the remainder...
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 $15.500 5.200 21,200 The following transactions occurred during January (a) Purchased materials on account for $26,200. () 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 materials...
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 $16,200 6,600 20,600 The following transactions occurred during January: (a) Purchased materials on account for $26,800. (b) Issued materials to production totaling $21700, 90 percent of which was traced to specific jobs and the remainder of which was treated as Indirect materials...
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...
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 $ 15,700 Work in Process Inventory 6,600 Finished Goods Inventory 20,500 The following transactions occurred during January: (a) Purchased materials on account for $26,600. (b) Issued materials to production totaling $20,400, 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 $ 15,600 Work in Process Inventory 5,200 Finished Goods Inventory 20,400 The following transactions occurred during January: (a) Purchased materials on account for $27,200. (b) Issued materials to production totaling $20,800, 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 2016 follow: Raw Materials Inventory $ 16,900 Work in Process Inventory 6,700 Finished Goods Inventory 20,800 The following transactions occurred during January: (a) Purchased materials on account for $26,900. (b) Issued materials to production totaling $21,900, 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 $ 15,600 Work in Process Inventory 6,600 Finished Goods Inventory 22,000 The following transactions occurred during January: (a) Purchased materials on account for $27,500. (b) Issued materials to production totaling $21,900, 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 2016 follow: Raw Materials Inventory $ 15,800 Work in Process Inventory 6,300 Finished Goods Inventory 20,300 The following transactions occurred during January: (a) Purchased materials on account for $27,900. (b) Issued materials to production totaling $20,600, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect...