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
Question 1: (a) Use indifference curves to distinguish between income and substitution effects. (b) Hence, using the above techniques explain why the demand curve slope down

Assumption of break even analysis The break even analysis is based upon the following assumptions : 1) All elements of cost, i.e., production , administration and selling di

2. Draw the network diagram for the following problem and indicate a sequence of plans that the company should want to consider in making a time-cost tradeoff. The company is not

Explain the Break-Even Analysis  The study of cost volume profit analysis is often referred to as break-even analysis and the two terms are used interchangeably by many. This i

Analysis of Credit File: Credit file is a compilation of each the relevant credit information of the customer. All the credit information collected throughout the credit informati

Explain the Types of standards The following is the brief description of various types of standards: 1) Basic standards: these are the standards which are assumed to remai

Categories of zero base budgeting The preceding discussion will reveal that zero base budgeting is based primarily on: 1) Development of decision units 2) Identification

Engineering method These methods are based on the use of engineering analysis of technological relationship between inputs and outputs e.g. method studies and time and motion s

Outline Five characteristics of relevant cost

Describe Benchmarking It is the process of measuring products service or activities against the best level of performance which may be found either inside or outside the organi