Homework Answers
Option D (Materials requision form)
Materials requisition form is a source document used by the production department to acquire required materials from the purchase department. As cost for each job is calculated separately, this document is used to determine the direct materials cost to be used for a specific job.
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The cost of direct materials is assigned to a job by the use of a source...
The document that lists the total cost for a single job is a job-order cost sheet....
The document that lists the total cost for a single job is a job-order cost sheet. materials requisition form. time ticket. purchase order. None of these are correct.
Source Documents and Cost Flows in Job-Order Costing In job-order costing, the individual costs of each...
Source Documents and Cost Flows in Job-Order Costing In job-order costing, the individual costs of each job must be kept track of separately. The costs of each job are kept track of on a job-order cost sheet. The job-order cost sheets are subsidiary records to the account. Each job order cost sheet includes the unique name assigned to the job (e.g., Smith House for a construction firm, or 2014-001 for the first job of 2014 for a custom framing shop)....
Direct materials costs to Work in Process Inventory. Direct labor costs to Work in Process Inventory....
Direct materials costs to Work in Process Inventory.
Direct labor costs to Work in Process Inventory.
Overhead costs to Work in Process Inventory.
Indirect materials costs to the Factory Overhead account.
Indirect labor costs to the Factory Overhead account.
Required: Prepare journal entries to assign the above
costs.
Required information Problem 2-2A Source documents, journal entries, overhead, and financial reports LO P1, P2, P3, P4 The following information applies to the questions displayed below.) Bergamo Bay's computer system generated the...
Question 22 2 pts A source document that production managers use to request materials for production...
Question 22 2 pts A source document that production managers use to request materials for production and that is used to assign materials costs to specific jobs or to overhead is a: Job cost sheet Production order Materials requisition. Materials purchase order. Receiving report Question 42 Kayak Company uses a job order costing system and locaties its own teatre labor costs. Kayak Company's production costs for the year wert.dredbe materials, $50,000, and factory overhead applied $6.000. The predetermined 5.0% 12.0%...
A job cost sheet of Ivanhoe Company is given below. JOB NO. 469 Job Cost Sheet...
A job cost sheet of Ivanhoe Company is given below. JOB NO. 469 Job Cost Sheet Quantity White Lion Cages Date Requested Todd Company Date Completed Direct Direct Materials Labor FOR 2.500 7/2 7/31 Manufacturing Overhead Date 7/10 700 900 400 1,675 1,575 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost Your answer is partially correct. Try again. Answer the following questions. (1) What are the source documents for direct materials, direct labor, and...
Exercise 15-2 Job cost computation LO C2 The following information is from the materials requisitions and...
Exercise 15-2 Job cost computation LO C2 The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date 7/ 1 7/1 7/ 5 7/ 5 7/10 Document Amount -4698 $2,000 W-3393...
Exercise 15-2 Job cost computation LO C2 The following Information is from the materials requisitions and...
Exercise 15-2 Job cost computation LO C2 The following Information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date Document Amount 7/ 1 0 -4698 $1,600 7/ 1 W -3393 950 7/...
Exercise 15-2 Job cost computation LO C2 The following information is from the materials requisitions and...
Exercise 15-2 Job cost computation LO C2 The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date 7/ 1 7/1 7/ 5 7/ 5 7/10 Document Amount 0 -4698 $1,900...
The following information is from the materials requisitions and time tickets for Job 9-1005 completed by...
The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date 7/1 7/1 7/5 7/5 7/10 Document Amount Q-4698 $2,200 W-3393 1.550 Q-4725 1,950 W-3479 1,400 W-35591, 250 Determine the total...
The following information is from the materials requisitions and time tickets for Job 9-1005 completed by...
The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date 7/1 7/1 7/5 7/5 7/10 Document Amount Q-4698 $2,200 W-3393 1,550 0-4725 1,950 W-3479 1,400 W-3559 1,250 Determine the total...
Source Documents and Cost Flows in Job-Order Costing In job-order costing, the individual costs of each job must be kept track of separately. The costs of each job are kept track of on a job-order cost sheet. The job-order cost sheets are subsidiary records to the account. Each job order cost sheet includes the unique name assigned to the job (e.g., Smith House for a construction firm, or 2014-001 for the first job of 2014 for a custom framing shop)....
Direct materials costs to Work in Process Inventory.
Direct labor costs to Work in Process Inventory.
Overhead costs to Work in Process Inventory.
Indirect materials costs to the Factory Overhead account.
Indirect labor costs to the Factory Overhead account.
Required: Prepare journal entries to assign the above
costs.
Required information Problem 2-2A Source documents, journal entries, overhead, and financial reports LO P1, P2, P3, P4 The following information applies to the questions displayed below.) Bergamo Bay's computer system generated the...
Question 22 2 pts A source document that production managers use to request materials for production and that is used to assign materials costs to specific jobs or to overhead is a: Job cost sheet Production order Materials requisition. Materials purchase order. Receiving report Question 42 Kayak Company uses a job order costing system and locaties its own teatre labor costs. Kayak Company's production costs for the year wert.dredbe materials, $50,000, and factory overhead applied $6.000. The predetermined 5.0% 12.0%...
A job cost sheet of Ivanhoe Company is given below. JOB NO. 469 Job Cost Sheet Quantity White Lion Cages Date Requested Todd Company Date Completed Direct Direct Materials Labor FOR 2.500 7/2 7/31 Manufacturing Overhead Date 7/10 700 900 400 1,675 1,575 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost Your answer is partially correct. Try again. Answer the following questions. (1) What are the source documents for direct materials, direct labor, and...
Exercise 15-2 Job cost computation LO C2 The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date 7/ 1 7/1 7/ 5 7/ 5 7/10 Document Amount -4698 $2,000 W-3393...
Exercise 15-2 Job cost computation LO C2 The following Information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date Document Amount 7/ 1 0 -4698 $1,600 7/ 1 W -3393 950 7/...
Exercise 15-2 Job cost computation LO C2 The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date 7/ 1 7/1 7/ 5 7/ 5 7/10 Document Amount 0 -4698 $1,900...
The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date 7/1 7/1 7/5 7/5 7/10 Document Amount Q-4698 $2,200 W-3393 1.550 Q-4725 1,950 W-3479 1,400 W-35591, 250 Determine the total...
The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date 7/1 7/1 7/5 7/5 7/10 Document Amount Q-4698 $2,200 W-3393 1,550 0-4725 1,950 W-3479 1,400 W-3559 1,250 Determine the total...
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