Homework Answers
| No |
ACCOUNT |
DEBIT | CREDIT |
|---|---|---|---|
| 1 | Finished goods inventory | 10,500 | |
| Goods in process inventory | 10,500 | ||
| 2 | Cost of Goods Sold | 14,900 | |
| Finished goods inventory | 14,900 | ||
| 3 | Cash | 14,900 | |
| Sales revenue | 14,900 |
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Clemens Cars's job cost sheet for Job A40 shows that the cost to add security features...
Clemens Cars' job cost sheet for Job A40 shows that the cost to add security features...
Clemens Cars' job cost sheet for Job A40 shows that the cost to add security features to a car was $21,000. The car was delivered to the customer, who paid $25,700 in cash for the added features. What journal entries should Clemens record for the completion and delivery of Job A40? a. Record transfer of cost of completed job to Finished Goods. b. Record the cost of goods sold. c. Record sale price of delivered job paid in cash.
Clemens Cars' job cost sheet for job A40 shows that the cost to add security features...
Clemens Cars' job cost sheet for job A40 shows that the cost
to add security features to a car was $10,500. The car was
delivered to the customer, who paid $14,900 in cash for the added
features. What journal entries should Clemens record for the
completion and delivery of job A40?
PLEASE HELP & READ THE QUESTION CARFULLY!!!!!
Journal entry worksheet 2 3 Record transfer of cost of completed job to Finished Goods. Note: Enter debits before credits. Transaction Credit...
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...
Question 5 --/1 View Policies Current Attempt in Progress A job order cost sheet for Ryan...
Question 5 --/1 View Policies Current Attempt in Progress 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 5,700 7,000 4,900 7,000 10,000 8,500 2,200 4,000 3,400 16,800 14,900 21,000 Cost of completed job: Direct materials $14,900 Direct labor 21,000 Manufacturing overhead 16,800 Total cost $52,700 Unit cost ($52,700 + 2,000) $26.35 (a) On the basis of the foregoing data, answer...
Project Excel Template”. The file includes blank templates for Job # Cost Sheer, Job #2 Cost Sheet, General Journal....
Project Excel Template”. The file includes blank templates for Job # Cost Sheer, Job #2 Cost Sheet, General Journal. T-Accounts (General Ledger), Schedule of Cost of Goods Manufactured, Cost of goods sold and Income Statement. You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is specially customized for the customer. This month, you have been asked to develop and manufacture two new tables for customers. You...
A manufacturer’s job cost sheet reports direct materials of $1,200 and direct labor of $250 for...
A manufacturer’s job cost sheet reports direct materials of $1,200 and direct labor of $250 for printing 200 T-shirts for a bikers’ reunion. Estimated overhead is computed as 140% of direct labor costs. What is the estimated overhead cost for this job? What is the total cost per T-shirt for this job? What journal entry does the manufacturer make upon completion of this job to transfer costs from work in process to finished goods? A manufacturing company estimates it will...
The total cost for job 78 is 6832.8 for job 79 is 6527.4 for job 80...
The total cost for job 78 is 6832.8
for job 79 is 6527.4
for job 80 is 9295.
This is what I got for the three jobs.
Job Costs, Ending Work in Process During March, Aragon Company worked on three jobs. Data relating to these three jobs follow: Job 78 Job 79 Job 80 Units in each order 240 260 220 220 Units sold Materials requisitioned Direct labor hours $1,632 264 $1,034 242 $2,782 390 Direct labor cost $3,168 $3,630...
10) A job cost sheet shows information about each of the following items except: A) The...
10) A job cost sheet shows information about each of the following items except: A) The costs incurred by the marketing department in selling the job. B) The direct materials costs assigned to the job. C) The overhead costs assigned to the job. D) The direct labor costs assigned to the job. E) The name of the customer. 11) For product costs associated with a partic A) The product must be transferred to Fin B) The product must be sold....
Che Job costing A job-costing syste ing system has a separate job-cost record for each job....
Che Job costing A job-costing syste ing system has a separate job-cost record for each job. A summary of the job-cost card is typically found in a subsidiary ledger. The general ledger Rocount Work-in-Process Control control presents the total of these separate job cost records pertaining to all unfinished jobs. The job-cost records and Work-in-Process Control account track ob costs from when ob start until they are complete. When jobs are completed or sold, they are recorded in the finished-goods...
Question 1 A job cost sheet for Rolen Company is shown below. Job No. 92 Direct...
Question 1 A job cost sheet for Rolen Company is shown below. Job No. 92 Direct Materials Direct Labour For 2,000 Units Manufacturing Overhead Date Beginning Balance January 1 $5,000 $2,500 $3,920 6,000 8 12 8,500 5,950 25 2,000 27 3,900 17,400 2,730 11,180 11,920 Cost of completed job: Direct materials Direct labour Manufacturing overhead $11,920 17,400 11,180 $40,500 Total cost Unit cost ($40,500 - 2,000) $20.25 (a) Your answer is correct. On the basis of the foregoing data, answer...
Clemens Cars' job cost sheet for job A40 shows that the cost
to add security features to a car was $10,500. The car was
delivered to the customer, who paid $14,900 in cash for the added
features. What journal entries should Clemens record for the
completion and delivery of job A40?
PLEASE HELP & READ THE QUESTION CARFULLY!!!!!
Journal entry worksheet 2 3 Record transfer of cost of completed job to Finished Goods. Note: Enter debits before credits. Transaction Credit...
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...
Question 5 --/1 View Policies Current Attempt in Progress 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 5,700 7,000 4,900 7,000 10,000 8,500 2,200 4,000 3,400 16,800 14,900 21,000 Cost of completed job: Direct materials $14,900 Direct labor 21,000 Manufacturing overhead 16,800 Total cost $52,700 Unit cost ($52,700 + 2,000) $26.35 (a) On the basis of the foregoing data, answer...
The total cost for job 78 is 6832.8
for job 79 is 6527.4
for job 80 is 9295.
This is what I got for the three jobs.
Job Costs, Ending Work in Process During March, Aragon Company worked on three jobs. Data relating to these three jobs follow: Job 78 Job 79 Job 80 Units in each order 240 260 220 220 Units sold Materials requisitioned Direct labor hours $1,632 264 $1,034 242 $2,782 390 Direct labor cost $3,168 $3,630...
10) A job cost sheet shows information about each of the following items except: A) The costs incurred by the marketing department in selling the job. B) The direct materials costs assigned to the job. C) The overhead costs assigned to the job. D) The direct labor costs assigned to the job. E) The name of the customer. 11) For product costs associated with a partic A) The product must be transferred to Fin B) The product must be sold....
Che Job costing A job-costing syste ing system has a separate job-cost record for each job. A summary of the job-cost card is typically found in a subsidiary ledger. The general ledger Rocount Work-in-Process Control control presents the total of these separate job cost records pertaining to all unfinished jobs. The job-cost records and Work-in-Process Control account track ob costs from when ob start until they are complete. When jobs are completed or sold, they are recorded in the finished-goods...
Question 1 A job cost sheet for Rolen Company is shown below. Job No. 92 Direct Materials Direct Labour For 2,000 Units Manufacturing Overhead Date Beginning Balance January 1 $5,000 $2,500 $3,920 6,000 8 12 8,500 5,950 25 2,000 27 3,900 17,400 2,730 11,180 11,920 Cost of completed job: Direct materials Direct labour Manufacturing overhead $11,920 17,400 11,180 $40,500 Total cost Unit cost ($40,500 - 2,000) $20.25 (a) Your answer is correct. On the basis of the foregoing data, answer...
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