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JUB N8. 429 is completed during the month. Instructions (a) Prepare summary journal entries to record...
Analyze a job cost sheet and prepare entries for manafacturing costs. 2.3 101,2, 3, 4), AP...
Analyze a job cost sheet and prepare entries for manafacturing costs. 2.3 101,2, 3, 4), AP A job order cost sheet for Ryan Company is shown below Job No. 92 For 2,000 Units Direct Materials Direct Manufacturing Date Labor 6,000 8,000 4,000 18,000 Overhead 4,200 6,400 3,200 Beg. bal. Jan. 1 5,000 6,000 12 25 27 2,000 13,000 13,800 Cost of completed job: Direct materials Direct labor Manufacturing overhead $13,000 18,000 13,800 $44,800 Total cost Unit cost ($44,800+ 2,000) $22.40...
For 2,000 Units Job No. 92 Manufacturing Direct Direct Labor Overhead Date Materials Beg, bal. Jan....
For 2,000 Units Job No. 92 Manufacturing Direct Direct Labor Overhead Date Materials Beg, bal. Jan. 1 5,000 6,000 4,200 6,000 12 8,000 6,400 25 2,000 27 4,000 3,200 13,000 18,000 13,800 Cost of completed job: Direct materlals $13,000 Direct labor 18,000 Manufacturing overhead 13,800 $44,800 Total cost Unit cost ($44,800 - 2,000) $22.40 (a) On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work in Process Inventory on January 1 if...
E15.2 Prepare journal entries for manufacturing costs. (LO 1, 2, 3, 4), AP Stine Company uses...
E15.2 Prepare journal entries for manufacturing costs. (LO 1, 2, 3, 4), AP 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 $1,900 $2,500 3,500 3,000 430 431 4,400 $10,400 1,600 $12,500 1,200...
Prepare the journal entries to record the sale of any job(s) during the month.
Cullumber Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,600, direct labor $12,360, and manufacturing overhead $16,480. As of January 1, Job 49 had been completed at a cost of $92,700 and was part of finished goods inventory. There was a $15,450 balance in the...
CALCULATOR FULL Job No. 92 Direct Materials Direct Labor For 2,000 Units Manufacturing Overhead Date Beg....
CALCULATOR FULL Job No. 92 Direct Materials Direct Labor For 2,000 Units Manufacturing Overhead Date Beg. bal 6,000 4,200 5,000 6,000 8,000 2,000 4,000 18,000 13,000 13,800 $13,000 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost (44,800 2,000) $44.800 On the basis of the foregoing data, answer the following (a) What was the balance in Work in Process Invente Balance in Work in Process Inventory on January (b) of manufacturing overhead is applied on...
A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000...
A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000 Units Direct Materials Direct Labor Manufacturing Overhead Date Beg. bal. Jan. 1 5,100 7,000 4.900 7,000 8,000 6,000 2,800 5,000 3,750 14,900 20,000 14,650 Cost of completed job: Direct materials $14,900 Direct labor 20,000 Manufacturing overhead 14,650 Total cost $49,550 Unit cost ($49,550 = 2,000) $24.78 (a) On the basis of the foregoing data, answer the following questions. (a) On the basis of the...
A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000...
A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000 Units Date Direct Materials Direct Labor Manufacturing Overhead Beg. bal. Jan. 1 6,500 6,000 4,200 6,000 8,000 6,800 25 3,000 4,000 18,000 15,500 3,400 14,400 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost (547,900 = 2.000) $15,500 18,000 14,400 $47.900 $23.95 (a) on the basis of the foregoing data, answer the following questions. (1) What was the balance...
Prepare summary journal entries to record the following transactions for a company in its first month...
Prepare summary journal entries to record the following transactions for a company in its first month of operations. Raw materials purchased on account, $90,000. Direct materials used in production, $39,500. Indirect materials used in production, $18,000. Paid cash for factory payroll, $60,000. Of this total, $40,000 is for direct labor and $20,000 is for indirect labor. Paid cash for other actual overhead costs, $7,625. Applied overhead at the rate of 125% of direct labor cost. Transferred cost of jobs completed...
Prepare summary journal entries to record the following transactions for a company in its first month...
Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $90,000. b. Direct materials used in production, $39,500. Indirect materials used in production, $18,000. c. Paid cash for factory payroll, $60,000. Of this total, $40,000 is for direct labor and $20,000 is for indirect labor. d. Paid cash for other actual overhead costs, $7,625. e. Applied overhead at the rate of 125% of direct labor cost....
A job order cost sheet for Ryan Company is shown below Job No. 92 For 2,000...
A job order cost sheet for Ryan Company is shown below Job No. 92 For 2,000 Units Direct Manufacturing Direct Materials Labor Date Overhead Beg. bal 5,9007,400 5,180 Jan. 1 7,400 12 25 27 6,800 5,100 2,400 4,400 15,700 18,600 3,300 13,580 Cost of completed job: Direct materials 15,700 18,600 13,580 $47,880 $23.94 Direct labor Total cost Unit cost ($47,880 2,000) (a) On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work...
Analyze a job cost sheet and prepare entries for manafacturing costs. 2.3 101,2, 3, 4), AP A job order cost sheet for Ryan Company is shown below Job No. 92 For 2,000 Units Direct Materials Direct Manufacturing Date Labor 6,000 8,000 4,000 18,000 Overhead 4,200 6,400 3,200 Beg. bal. Jan. 1 5,000 6,000 12 25 27 2,000 13,000 13,800 Cost of completed job: Direct materials Direct labor Manufacturing overhead $13,000 18,000 13,800 $44,800 Total cost Unit cost ($44,800+ 2,000) $22.40...
For 2,000 Units Job No. 92 Manufacturing Direct Direct Labor Overhead Date Materials Beg, bal. Jan. 1 5,000 6,000 4,200 6,000 12 8,000 6,400 25 2,000 27 4,000 3,200 13,000 18,000 13,800 Cost of completed job: Direct materlals $13,000 Direct labor 18,000 Manufacturing overhead 13,800 $44,800 Total cost Unit cost ($44,800 - 2,000) $22.40 (a) On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work in Process Inventory on January 1 if...
E15.2 Prepare journal entries for manufacturing costs. (LO 1, 2, 3, 4), AP 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 $1,900 $2,500 3,500 3,000 430 431 4,400 $10,400 1,600 $12,500 1,200...
CALCULATOR FULL Job No. 92 Direct Materials Direct Labor For 2,000 Units Manufacturing Overhead Date Beg. bal 6,000 4,200 5,000 6,000 8,000 2,000 4,000 18,000 13,000 13,800 $13,000 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost (44,800 2,000) $44.800 On the basis of the foregoing data, answer the following (a) What was the balance in Work in Process Invente Balance in Work in Process Inventory on January (b) of manufacturing overhead is applied on...
A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000 Units Direct Materials Direct Labor Manufacturing Overhead Date Beg. bal. Jan. 1 5,100 7,000 4.900 7,000 8,000 6,000 2,800 5,000 3,750 14,900 20,000 14,650 Cost of completed job: Direct materials $14,900 Direct labor 20,000 Manufacturing overhead 14,650 Total cost $49,550 Unit cost ($49,550 = 2,000) $24.78 (a) On the basis of the foregoing data, answer the following questions. (a) On the basis of the...
A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000 Units Date Direct Materials Direct Labor Manufacturing Overhead Beg. bal. Jan. 1 6,500 6,000 4,200 6,000 8,000 6,800 25 3,000 4,000 18,000 15,500 3,400 14,400 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost (547,900 = 2.000) $15,500 18,000 14,400 $47.900 $23.95 (a) on the basis of the foregoing data, answer the following questions. (1) What was the balance...
A job order cost sheet for Ryan Company is shown below Job No. 92 For 2,000 Units Direct Manufacturing Direct Materials Labor Date Overhead Beg. bal 5,9007,400 5,180 Jan. 1 7,400 12 25 27 6,800 5,100 2,400 4,400 15,700 18,600 3,300 13,580 Cost of completed job: Direct materials 15,700 18,600 13,580 $47,880 $23.94 Direct labor Total cost Unit cost ($47,880 2,000) (a) On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work...
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