Two jobs during the period, Managerial Accounting

The Work in Process account for Monty's Company contained the following entries:
Work in Process Account
Debit of $40,000 for direct raw materials
Debit of $60,000 for direct labor
Debit of $30,000 for manufacturing overhead
Ending balance, $42,000, associated with Job #2

The company uses a job-order cost system.  Work was only performed on two jobs during the period.  

What was the cost of Job # 1, which was started and completed during the period?

Posted Date: 3/14/2013 8:22:07 AM | Location : United States







Related Discussions:- Two jobs during the period, Assignment Help, Ask Question on Two jobs during the period, Get Answer, Expert's Help, Two jobs during the period Discussions

Write discussion on Two jobs during the period
Your posts are moderated
Related Questions
in the past,the company had difficulties separating semi-variable costs between varible and fixed costs.the company''s varible cost per unit consists of the cost of patrol,maintena

Stock turnover ratio  Meaning: this ratio establishes a relation ship between costs of goods sold and average inventory. Objective: the objective of component of this r

Transfer Pricing Transfer pricing can contribute directly to the process of departmental performance measurement and indirectly to the measurement of product performance. A

Determine important factors while praparing sales budget The possible factors to be taken into account while preparing a sales budget are discussed as follows: 1) Past sales

Marketing refers to the promotion of products, especially advertising and branding. But marketing includes product management, pricing, prom

The management of Popular Stores Sdn. Bhd. are in the process of exploring the company’s investment opportunities.

Objective Function Although the standard LP model can be either the maximization or the minimization type, it is sometimes useful to convert one form to the other. The maximiz

Explain the cost According to controllability: Controllable cost: this is a cost which can be inclined by the action of a specified member of an undertaking. The organization

X's Strategy X will like to divide his play between his rows in such a way that his expected winnings or losses when Y plays the first column will be equal to his expected winn

Determine the Need and importance of management accounting: 1.Increasing efficiency: management accounting increases efficiency of business operations. The targets of differe