Answer:-
1.
A.
Materials |
45,000 |
|
Accounts Payable |
45,000 |
B.
Work in Process |
41,595 |
|
Factory Overhead |
6,200 |
|
Materials |
16,200 |
|
Wages Payable |
31,595 |
C.
Factory Overhead |
1,800 |
|
Accounts Payable |
1,800 |
D.
Factory Overhead |
2,500 |
|
Accumulated Depreciation—Machinery |
||
and Equipment |
2,500 |
E.
Work in Process |
9,000 |
|
Factory Overhead (300 hours x $30) |
9,000 |
F.
Finished Goods |
38,755 |
|
Work in Process |
38,755 |
2.
Job |
Direct Materials |
Direct Labor |
Factory Overhead |
Total |
No. 301..... |
$1,850 |
$2,500 |
$ 900 |
$ 5,250 |
No. 302. |
3,150 |
7,220 |
1,800 |
12,170 |
No. 303. |
2,200 |
5,350 |
1,230 |
8,780 |
No. 305. |
4,230 |
6,225 |
2,100 |
12,555 |
Total... |
$38,755 |
G.
Accounts Receivable |
38,050 |
|
Sales |
38,050 |
|
Cost of Goods Sold |
26,200 |
|
Finished Goods |
26,200 |
Computation of cost of jobs sold:
Job
No. 301…………………………………… $ 5,250
No. 302………………………………… 12,170
No. 303…………………………………… 8,780
Total……………………………………… $26,200
2.
Work in Process |
Finished |
Goods |
||||
(B) |
41,595 |
(F) |
38,755 (F) |
38,755 |
(G) |
26,200 |
(E) |
9,000 |
|||||
Bal. |
11,840 |
Bal. |
12,555 |
3. Schedule of unfinished jobs:
Job |
Direct Materials |
Direct Labor |
Factory Overhead |
Total |
No. 304....................................... No. 306....................................... Balance of Work in Process, January 30............................... |
$1,800 1,770 |
$2,400 2,900 |
$1,890 1,080 |
$ 6,090 5,750 $11,840 |
4.
Job |
Direct Materials |
Direct Labor |
Factory Overhead |
Total |
No. 304....................................... No. 306....................................... Balance of Work in Process, January 30............................... |
$1,800 1,770 |
$2,400 2,900 |
$1,890 1,080 |
$ 6,090 5,750 $11,840 |
✓ 3. Work in Process balance, $11,840 EXCEL TEMPLATE 301 304 .pdf (174 KB) Page 5...
uu e the entries to record the summarized operations. PR 16-2A Entries and schedules for unfinished jobs and complete Kurtz Fencing Inc. uses a job order cost system. The following related to production for March, the first month of operations. A. Materials purchased on account, $45,000. B. Materials requisitioned and factory labor used: hed jobs and completed jobs Obj. 2 The following data summarize the operations Job 301 302 303 304 305 306 For general factory use Materials $1,850 3,150...
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