### Smith die company manufactures cutting dies

Assignment Help Managerial Accounting
##### Reference no: EM13934786

Smith Die Company manufactures cutting dies for the shoe industry. Each set of dies is custom designed to a customer's templates. During the first week of May, six orders were received from customers. They were assigned job numbers 1005 to 101 0.The following transactions occurred during the first week of May:
Smith Die purchased steel on account from Eastern City Steel costing \$5,000.The Company received and paid for supplies (indirect materials) from Mallard Supply costing \$2,300. Material requisitions indicated that materials were issued to the factory floor as follows:

The labor time ticket summary reflected the following costs for the week:

Overhead was applied to all jobs in process at 180 percent of direct labor cost. Jobs 1005, 1006, 1007, and 1008 were completed and transferred to fïnished goods. Jobs 1009 and 1010 were still in process at the end of the week. Jobs 1005, 1006, 1007, and 1008 were shipped to customers and billed at 150 percent of total job cost.

Required:

a. Calculate the total cost of each job.

b. Prepare journal entries to record the above information.

#### Questions Cloud

 Measure the success of the message transfer : An explanation of how you can measure the success of the message transfer. Measurement of message transfer at key milestones will assist in determining the types of additional avenues or key messages that need to be created to reach non-responsive.. Company cost of preferred stock for use in calculating wacc : How much would \$5,000 due in 25 years be worth today if the discount rate were 5.0%? Bosio Inc.'s perpetual preferred stock sells for \$97.50 per share and it pays an \$8.50 annual dividend. If the company were to sell a new preferred issue, it would i.. Program that adds the elements in the odd indices : Write an assembly program that adds the elements in the odd indices of the following array. Use LOOP. What is the final value in the register? array1 DWORD 10, 20, 30, 40, 50, 60, 70, 80, 90, 100 Applicaion for menu design : The user selects the Clear menu to clear the form. Smith die company manufactures cutting dies : Smith Die Company manufactures cutting dies for the shoe industry. Competency standards for the enrolled nurse : 1. competency standards for the enrolled nurse 2. code of professional practice for nurses 3. code of ethics for nurses Main program prints gcd and lcm value : Write a program which defines total m integer numbers in pre-defined data area 'var_a'. The number m is stored in a location var_m. The program implements a selection sort on the array variable var_a. Name the program as selection_sort.asm. What is molecular reasons for this functional difference : Diagram the pathway of Glycolysis from glucose to pyruvate, giving structures and names of all pathway intermediates (enzyme mechanisms are not required) and names of enzymes (no abbreviations). Indicate where ADP, ATP, Pi, NAD+, or NADH is a subs.. Analyze the role of professional regulation : Analyze the role of professional regulation, the standard of care, and codes of ethics in healthcare providers' accountability to self, their profession, their patients, and the public

### Write a Review

#### What amounts would appear on a standard cost card for batco

Refer to information in QS 23-2. Assume the actual cost to manufacture one metal bat was \$ 40.

#### Made to enhance the efficiency and effectiveness of abc

1.What are the refinements that have been made to enhance the efficiency and effectiveness of ABC in managing costs? Why do you think ABC costing is more or less efficient than job order costing? Please provide an example.

#### Pros and cons of tariffs

Write a five page essay, using a minimum of three academic references and proper APA formatting on the following topic: pros and cons of tariffs.

#### Compute total costs to be incurred for a week

MFG Company experiences the following cost behavior patterns each week:Fixed costs: supervisor's salary \$1,000; factory rent \$2,500

#### Cash convesion cycle for diciolla company

The DiCiolla Co has sales of \$12 million, CGS of \$9 MM, and has \$2.5 MM of inventory. Receivables are \$750,000, payables are \$666,667 and the company pays its payables in 30 days.

#### Questiona firm believes it can generate an additional

questiona firm believes it can generate an additional 250000 per year in revenues for the next 5 years if it replaces

#### Determine the cash inflow from the issue of common stock

On January 1, 2013, Milam Company had a balance of \$300,000 in its Common Stock account. During 2013, Milam paid \$18,000 to purchase treasury stock.

#### Calculate the total production cost

Calculate the total production cost for both the Mixing department and the Cooking department using the Direct Method of Overhead Allocation

#### Identification of the professional accounting management

Identification of the professional accounting, management and/or public relations issues in your workplace. How do you applied knowledge from this degree study in solving your workplace problems, including appropriate analysis and justification.

#### Balances in selected accounts

At December 31, 2014, before adjusting entries, the balances in selected accounts were: Accounts Receivable \$318,400 debit, and Allowance for Doubtful Accounts \$4,040 credit. Assume that 11% of accounts receivable will prove to be uncollectible. Prep..

#### Budgeted income statement using an absorption income

Prepare the company's budgeted income statement using an absorption income statement format. ReferenceseBook & Resources WorksheetDifficulty: 1 EasyLearning Objective: 07-09 Prepare a budgeted income statement. Check my work

#### General ledger accounts related to inventory

Place Y (Yes) beside the general ledger accounts related to inventory in a job order cost system and N (No) by those that are not.