Question

CALCULATOR Exercise 15-03 A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000 Units Date Direct Dire
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT (2) If manufacturing overhead is applied on the basis of direct labor cost,
0 0
Add a comment Improve this question Transcribed image text
Answer #1
Answer
Answer 1 The balance in work in process inventory on January 1
Particulars Amount
Direct material $                                  6,400
Direct labour $                                  7,000
Manufacturing overheads $                                  4,900
(6400+7000+4900) $                                18,300
Answer 2 Over head rate used in each year of manufacturing overhead is applied on basis of direct labour cost
Particulars Percent Workings
Last Year 70% (4900/7000)
Current Year 75% (7500+3000)/(10000+4000)
Answer 3
Date Account titles and Explanation Debit Credit
Jan-31 Job 92 A/c $   9,800
   materials $    9,800
(To record the materials used)
Jan-31 Job 92 A/c $ 14,000
   Labour $ 14,000
(To record the Labour Used)
Jan-31 Job 92 A/c $ 10,500
   Manufacturing Overheads $ 10,500
(To record the manufacturing overheads used)
Jan-31 Finished goods $ 52,600
   To Job 92 A/c $ 52,600
(To Record Job Completed)

Please Like

Add a comment
Know the answer?
Add Answer to:
CALCULATOR Exercise 15-03 A job order cost sheet for Ryan Company is shown below. Job No....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • help please nelurumenda Ajob order cost sheet for Ryan Company is shown below. Job No.92 For...

    help please nelurumenda Ajob order cost sheet for Ryan Company is shown below. Job No.92 For 2,000 Units oport Direct Materials Date Direct Labor Manufacturing Overhead Beg. bal. Jan. 1 7,000 6,400 7.000 se 10,000 500 2,800 4,000 21,000 16,200 3,000 15,400 Cost of completed job: Direct materials $16,200 Direct labor 21,000 Manufacturing overhead 15,400 Total cost $52,600 Unit cost ($52,600 + 2,000) $26,30 Unit cost ($52,600 2,000) $26.30 (a) On the basis of the foregoing data, answer the following...

  • Exercise 2-3 A job order cost sheet for Ryan Company is shown below. Job No. 92...

    Exercise 2-3 A job order cost sheet for Ryan Company is shown below. Job No. 92 Direct Materials Direct Labor For 2,000 Units Manufacturing | Overhead Date Beg. bal. Jan. 1 6,700 7,000 4,900 7,000 10,000 7,500 2,800 4,000 21,000 3,000 15,400 16,500 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($52,900 + 2,000) $16,500 21,000 15,400 $52,900 $26.45 (a) On the basis of the foregoing data, answer the following questions. (1) What was...

  • Exercise 15-03 A job order cost sheet for Ryan Company is shown below. Job No. 92...

    Exercise 15-03 A job order cost sheet for Ryan Company is shown below. Job No. 92 Direct Materials Direct Labor For 2,000 Units Manufacturing Overhead Date Beqbal 7,000 4,900 7,000 7,000 10,000 7,500 2,500 5,000 3,750 16,150 16,500 22,000 $16,500 Cost of completed job Direct materials Direct labor Manufacturing overhead Total cost Unit cost (554,650 + 2,000) 22,000 16,150 $54,650 $27.33 (a) On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work...

  • A job order cost sheet for Ryan Company is shown below. Job No. 92 Direct Materials...

    A job order cost sheet for Ryan Company is shown below. Job No. 92 Direct Materials Direct Labor For 2,000 Units Manufacturing Overhead 4,900 Date 7,000 Beg. bal. Jan. 1 8 6,000 7,000 12 10,000 8,500 25 2,500 27 4,000 3,400 16,800 15,500 21,000 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($53,300 = 2,000) $15,500 21,000 16,800 $53,300 $26.65 (a) On the basis of the foregoing data, answer the following questions. (1) What...

  • MENT RESOURCES Exercise 15-03 A job order cost sheet for Ryan Company is shown below. se...

    MENT RESOURCES Exercise 15-03 A job order cost sheet for Ryan Company is shown below. se 15-03 m 15-01A m 15-04A For 2,000 Units Job No. 92 Manufacturing Overhead Direct Labor Direct Materials Date Score Beg. bal. Jan. 1 Results by Study we 4,200 5.300 6,000 6,000 5,600 7,000 12 2,500 25 3,200 13,000 4,000 27 17,000 13,800 Cost of completed job: $13,800 Direct materials 17,000 Direct labor 13,000 Manufacturing overhead $43,800 Total cost $21.90 Unit cost (S43,800 - 2,000)...

  • 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 Direct Labor...

    A job order cost sheet for Ryan Company is shown below. Job No. 92 Direct Labor Direct Materials 5,200 7,000 For 2,000 Units Manufacturing Overhead 4,900 7,000 Date Beg. bal. Jan. 1 8 12 25 27 10,000 8,000 2,900 5,000 4,000 16,900 15,100 22,000 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($54,000 = 2,000) $15,100 22,000 16,900 $54,000 $27.00 (a) On the basis of the foregoing data, answer the following questions. (1) What...

  • Current Attempt in Progress A job order cost sheet for Ryan Company is shown below. Job...

    Current Attempt in Progress A job order cost sheet for Ryan Company is shown below. Job No. 92 Direct Materials 6,300 7,000 Direct Labor 7,000 For 2,000 Units Manufacturing Overhead 4,900 Date Beg. bal. Jan. 1 8 12 25 27 9,000 7,200 3,000 4,000 20,000 3,200 15,300 16,300 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($51,600 + 2,000) $16,300 20,000 15,300 $51,600 $25.80 (a) On the basis of the foregoing data, answer the...

  • Exercise 2-3 A job order cost sheet for Ryan Company is shown below. Job No. 92...

    Exercise 2-3 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 5,200 6,000 4,200 8 6,000 12 10,000 7,500 25 2,700 27 4,000 3,000 13,900 20,000 14,700 Cost of completed job:    Direct materials $13,900    Direct labor 20,000    Manufacturing overhead 14,700 Total cost $48,600 Unit cost ($48,600 รท 2,000) $24.30 (a) On the basis of the foregoing data, answer the following questions....

  • 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...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT