Homework Answers
38)
Ending work in process inventory = Beginning Inventory + Direct material + Direct labour + Factory overhead - Inventory transferred out
= $10,000 + $76,000 + $24,000 + ($24,000 X 50%) - $109,000
= $13,000
1st option.
39)
Total cost of job 134 and 135 = $1,7000 + $1,200 + $300 = $3,200
$900 from job 136 is work in process inventory.
$3,200; $900
1st option.
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Question 39 The job order cost sheets used by Greene Company revealed the following Job. No. May Production Costs...
The job order cost sheets used by Greene Company revealed the following: May Production costs Job....
The job order cost sheets used by Greene Company revealed the following: Job. No.Bal., May 1May Production costs134$2,200$01351,70040013601,000Job No. 135 was completed during May and Jobs No. 134 and 135 were shipped to customers in May. What was the company's cost of goods sold for May and the Work in Process Inventory on May 31?
Job No. 135 was completed during May and Jobs No. 134 and 135 were shipped to customers in May. What was the company's cost of goods sold for May and the Work in Process inventory on May 31?
Question 39 The job order cost sheets used by Greene Company revealed the following:Job. No.Bal., May 1May Production Costs134$1,700$01351,2003001360900Job No. 135 was completed during May and Jobs No. 134 and 135 were shipped to customers in May. What was the company's cost of goods sold for May and the Work in Process inventory on May 31?Question 38 The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it was assigned the following costs:...
The job order cost sheets used by Greene Company revealed the following: Job. No. Bal.,...
The job order cost sheets used by Greene Company revealed the following: Job. No. Bal., May 1 May Production Costs 134 $ 1,850 $ - - - 135 1,350 330 136 - - - - 930 Job No. 135 was completed during May and Jobs No. 134 and 135 were shipped to customers in May. What was the company's cost of goods sold for May and the Work in Process inventory on...
The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000
The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it was assigned the following costs: direct materials, $76,000 ; direct labor, $24,000; and factory overhead, 50 %of direct labor cost. Also, inventory with a cost of $109,000 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account for the Fabricating Department is: A) $13,000.B) $56,000.C) $59,000.D) $110,000.E)...
Stine Company uses a job order cost system. On May 1, the company has a balance...
Stine Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $4,240 and
two jobs in process: Job No. 429 $2,580, and Job No. 430 $1,660.
During May, a summary of source documents reveals the
following.
Job Number
Materials
Requisition Slips
Labor Time
Tickets
429
$3,040
$2,100
430
3,680
3,300
431
4,710
$11,430
8,100
$13,500
General use
940
1,360
$12,370
$14,860
Stine Company applies manufacturing overhead to jobs at...
need hwlp with question 8. please show how you got it The Fabricating Department started the...
need hwlp with question 8. please show how you got it
The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it was assigned the following costs: direct materials, $76.000, direct labor, $24,000, and factory overhead, 50% of direct labor cost. Also, inventory with a cost of $109,000 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account...
New help filling this out Stine Company uses a job order cost system. On May 1,...
New help filling this out
Stine Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $4,210 and
two jobs in process: Job No. 429 $2,550, and Job No. 430 $1,660.
During May, a summary of source documents reveals the
following.
Stine Company applies manufacturing overhead to jobs at an
overhead rate of 66% of direct labor cost. Job No. 429 is completed
during the month.
Materials Labor Time...
Stine Company uses a job order cost system. On May 1, the company has a balance...
Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process process: Job No. 429 $ 2,370, and Job No. 430 $ 1,760. Durin Inventory of $ 4,130 and two jobs in s May, a summary of source documents reveals the following Materials Requisition Slps Labor Time Tickets Job Number 429 430 431 General use $3,090 $ 2,080 3,960 3,310 4,820 $11,870 8,180 $13,570 1,320 $14,890 960 $12,830 Stine Company applies...
Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has...
Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,650 and two jobs in process: Job No. 429 $2,290, and Job No. 430 $1,360. During May, a summary of source documents reveals the following. Materials Labor Time Tickets Job Number Requisition Slips 429 $2,950 $2,410 3,440 430 4,000 431 4,740 $11,690 8,080 $13,930 General use 900 1,750 $12,590 $15,680 Stine Company applies manufacturing overhead to...
Exercise 15-2 Exercise 15-2 Stine Company uses a job order cost system. On May 1, the...
Exercise 15-2
Exercise 15-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,080 and two jobs in process: Job No. 429 $2,330, and Job No. 430 $1,750. During May, a summary of source documents reveals the following Materials Requisition Slip:s Labor Time Tickets Job Number 429 430 431 General use $2,790 4,080 4,830 $2,130 3,460 8,160 $11,700 960 $12,660 $13,750 1,680 $15,430 Stine Company applies manufacturing...
Stine Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $4,240 and
two jobs in process: Job No. 429 $2,580, and Job No. 430 $1,660.
During May, a summary of source documents reveals the
following.
Job Number
Materials
Requisition Slips
Labor Time
Tickets
429
$3,040
$2,100
430
3,680
3,300
431
4,710
$11,430
8,100
$13,500
General use
940
1,360
$12,370
$14,860
Stine Company applies manufacturing overhead to jobs at...
need hwlp with question 8. please show how you got it
The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it was assigned the following costs: direct materials, $76.000, direct labor, $24,000, and factory overhead, 50% of direct labor cost. Also, inventory with a cost of $109,000 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account...
New help filling this out
Stine Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $4,210 and
two jobs in process: Job No. 429 $2,550, and Job No. 430 $1,660.
During May, a summary of source documents reveals the
following.
Stine Company applies manufacturing overhead to jobs at an
overhead rate of 66% of direct labor cost. Job No. 429 is completed
during the month.
Materials Labor Time...
Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process process: Job No. 429 $ 2,370, and Job No. 430 $ 1,760. Durin Inventory of $ 4,130 and two jobs in s May, a summary of source documents reveals the following Materials Requisition Slps Labor Time Tickets Job Number 429 430 431 General use $3,090 $ 2,080 3,960 3,310 4,820 $11,870 8,180 $13,570 1,320 $14,890 960 $12,830 Stine Company applies...
Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,650 and two jobs in process: Job No. 429 $2,290, and Job No. 430 $1,360. During May, a summary of source documents reveals the following. Materials Labor Time Tickets Job Number Requisition Slips 429 $2,950 $2,410 3,440 430 4,000 431 4,740 $11,690 8,080 $13,930 General use 900 1,750 $12,590 $15,680 Stine Company applies manufacturing overhead to...
Exercise 15-2
Exercise 15-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,080 and two jobs in process: Job No. 429 $2,330, and Job No. 430 $1,750. During May, a summary of source documents reveals the following Materials Requisition Slip:s Labor Time Tickets Job Number 429 430 431 General use $2,790 4,080 4,830 $2,130 3,460 8,160 $11,700 960 $12,660 $13,750 1,680 $15,430 Stine Company applies manufacturing...
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