A company uses a job order costing system and a

Assignment Help Accounting Basics
Reference no: EM13597619

A company uses a job order costing system and a redetermined overhead rate based on machine hours. At the begin of the year the company estimated manufacturing overhead would be $240000 and machine hours would be 8,000.

job 10 job 11 job 12 job 13 work in progress inventory $16,000 $ 26,000 $38,000 $80,000 for Dec 1

Dec production activity:

  • materials requistioned $ 4000 48000 7200 16000
  • direct labor cost $ 2400 3600 4000 10000
  • machine hours 400 700 900 2000
  • labor hours 120 180 200 500
  • Actual manufacturing overhead cost incurred for Dec was $61,000

a) Determine total cost associated with each job and what is the cost assigned to ending work in progress
B) If jobs 10 and 12 were completed, prepare the journal entry to move the cost
c) If job 10 was sold to customers that paid $50000 cash prepare the journal entries

Reference no: EM13597619

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Problem v - 20 points klingon company operates a free

problem v - 20 points klingon company operates a free cafeteria for the benefit of its employees. budgeted and actual

  Issue of preferred stock

Which of the following shareholder rights is most commonly enhanced in an issue of preferred stock?

  Kendra co uses a standard job cost system with a normal

kendra co. uses a standard job cost system with a normal capacity of 25400 direct labour hours. kendra co. produces

  Pacific products inc completed and transferred 55000

pacific products inc. completed and transferred 55000 particle board units of production from the pressing department.

  Statement regarding an intercompany sale of land

Which of the following statements is true regarding an intercompany sale of land?

  Lessormfg corp is a manufacturer of heavy equipment on

lessormfg corp. is a manufacturer of heavy equipment. on january 1 2013 lessormfg corp. leases equipment to small

  Recognizing revenue when it is earned and not when cash is

recognizing revenue when it is earned and not when cash is received and recognizing expenses when the related goods or

  Kerry corp purchased a used bottling machine from bobs

kerry corp purchased a used bottling machine from bobs bottling inc. on jan 1 2012 for 2100000. bob accounted for the

  In 2006 ellen contributed property with a basis of 500000

in 2006 ellen contributed property with a basis of 500000 and a fair market value of 3000000 to a qualified small

  Jim student has asked you to determine if his educational

jim student has asked you to determine if his educational four scholarship is taxable. the scholarship only covers his

  Determine the division of net income

Prepare a worksheet to determine the division of net income if the net income was (a)$200,000 / (b)$300,000

  By installing some elaborate inspection equipment on its

by installing some elaborate inspection equipment on its assembly line the robot corp. can avoid hiring an extra worker

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd