Homework Answers
Solution:
Job no 201 = $11*109 + $24*88 + $9*36 = $3,635
Job no. 202 = $19*57 = $1,083
Job no 203 = $17*70 = $1,190
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Exercise 2-9 (Part Level Submission) Macaron, Inc. had the following labor time tickets for the month...
Jusr part B needs to be answered! Exercise 2-6 (Video) (Part Level Submission) A job cost...
Jusr part B needs to be answered!
Exercise 2-6 (Video) (Part Level Submission) A job cost sheet of Sandoval Company is given below. JOB NO. 2,500 ITEM 7/2 Job Cost Sheet 469 Quantity White Lion Cages Date Requested Todd Company. Date Completed Direct Direct Materials Labor FOR 7/31 Manufacturing Overhead Date 7/10 800 900 12 15 500 625 22 400 500 24 1,675 1,550 27 31 700 875 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost...
Exercise 2-6 (Part Level Submission) A job cost sheet of Sandoval Company is given below. Job...
Exercise 2-6 (Part Level Submission)
A job cost sheet of Sandoval Company
is given below.
Job Cost
Sheet
JOB NO.
469
Quantity
2,500
ITEM
White Lion Cages
Date Requested
7/2
FOR
Todd Company
Date Completed
7/31
Date
Direct
Materials
Direct
Labor
Manufacturing
Overhead
7/10
700
12
900
15
440
550
22
380
475
24
1,600
27
1,500
31
540
675
Cost of completed job:
Direct materials
Direct labor
Manufacturing overhead
Total cost
Unit cost
(1)...
Exercise 15-2 (Part Level Submission) Stine Company uses a job order cost system. On May 1,...
Exercise 15-2 (Part Level Submission) Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,400 and two jobs in process: Job No. 429 $2,100, and Job No. 430 $1,300. During May, a summary of source documents reveals the following Materials Requisition Slips Labor Time Tickets Job Number 429 430 431 General use $2,000 3,100 7,700 $2,600 3,600 4,500 $10,700 900 $11,600 $12,800 1,300 $14,100 Stine Company applies...
Exercise 15-11 a-b (Part Level Submission) The following are the job cost related accounts for the...
Exercise 15-11 a-b (Part Level Submission) The following are the job cost related accounts for the law firm of Sheridan Associates and their manufacturing equivalents: Law Firm Accounts Supplies Salaries and Wages Payable Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Manufacturing Firm Accounts Raw Materials Factory Wages Payable Manufacturing Overhead Work in Process Cost of Goods Sold Cost data for the month of March follow. 1. 2. 3. Purchased supplies on account $3,400. Issued supplies $1,400...
Exercise 9-13 (Part Level Submission) (Video) Fultz Company has accumulated the following budget data for the...
Exercise 9-13 (Part Level Submission)
(Video)
Fultz Company has accumulated the following budget data for the
year 2020.
1.
Sales: 31,160 units, unit selling price $88.
2.
Cost of one unit of finished goods: direct materials 1 pound at
$6 per pound, direct labor 3 hours at $13 per hour, and
manufacturing overhead $6 per direct labor hour.
3.
Inventories (raw materials only): beginning, 10,280 pounds;
ending, 15,490 pounds.
4.
Selling and administrative expenses: $170,000; interest
expense: $30,000.
5.
Income...
Problem 4-26 (Part Level Submission) Swifty Company produces high-quality microscopes for education and health care uses....
Problem 4-26 (Part Level Submission) Swifty Company produces high-quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict manufacturing specifications, the company applies overhead on the basis of direct labor hours. At the beginning of 2017, the company estimated its manufacturing overhead would be $1,950,000 and that employees would work a total of 48,750 direct labor hours. During March, the company...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data. Raw Materials Inventory Work in Process Inventory $4,284 $5,652 Manufacturing Overhead Applied Manufacturing Overhead Incurred $33,293 $32,283 Subsidiary data for Work in Process Inventory on June 1 are as follows. Cost Element Direct materials Direct labor Manufacturing...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,872 Manufacturing Overhead Applied $37,862 Work in Process Inventory $6,426 Manufacturing Overhead Incurred $36,714 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element...
Problem 2-3A (Video) (Part Level Submission) Case Inc. is a construction company specializing in custom patios....
Problem 2-3A (Video) (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $3,900 Manufacturing Overhead Applied $35,600 Work in Process Inventory $5,975 Manufacturing Overhead Incurred $29,400 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,872 Manufacturing Overhead Applied $37,862 Work in Process Inventory $6,426 Manufacturing Overhead Incurred $36,714 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element...
Jusr part B needs to be answered!
Exercise 2-6 (Video) (Part Level Submission) A job cost sheet of Sandoval Company is given below. JOB NO. 2,500 ITEM 7/2 Job Cost Sheet 469 Quantity White Lion Cages Date Requested Todd Company. Date Completed Direct Direct Materials Labor FOR 7/31 Manufacturing Overhead Date 7/10 800 900 12 15 500 625 22 400 500 24 1,675 1,550 27 31 700 875 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost...
Exercise 2-6 (Part Level Submission)
A job cost sheet of Sandoval Company
is given below.
Job Cost
Sheet
JOB NO.
469
Quantity
2,500
ITEM
White Lion Cages
Date Requested
7/2
FOR
Todd Company
Date Completed
7/31
Date
Direct
Materials
Direct
Labor
Manufacturing
Overhead
7/10
700
12
900
15
440
550
22
380
475
24
1,600
27
1,500
31
540
675
Cost of completed job:
Direct materials
Direct labor
Manufacturing overhead
Total cost
Unit cost
(1)...
Exercise 15-2 (Part Level Submission) Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,400 and two jobs in process: Job No. 429 $2,100, and Job No. 430 $1,300. During May, a summary of source documents reveals the following Materials Requisition Slips Labor Time Tickets Job Number 429 430 431 General use $2,000 3,100 7,700 $2,600 3,600 4,500 $10,700 900 $11,600 $12,800 1,300 $14,100 Stine Company applies...
Exercise 15-11 a-b (Part Level Submission) The following are the job cost related accounts for the law firm of Sheridan Associates and their manufacturing equivalents: Law Firm Accounts Supplies Salaries and Wages Payable Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Manufacturing Firm Accounts Raw Materials Factory Wages Payable Manufacturing Overhead Work in Process Cost of Goods Sold Cost data for the month of March follow. 1. 2. 3. Purchased supplies on account $3,400. Issued supplies $1,400...
Exercise 9-13 (Part Level Submission)
(Video)
Fultz Company has accumulated the following budget data for the
year 2020.
1.
Sales: 31,160 units, unit selling price $88.
2.
Cost of one unit of finished goods: direct materials 1 pound at
$6 per pound, direct labor 3 hours at $13 per hour, and
manufacturing overhead $6 per direct labor hour.
3.
Inventories (raw materials only): beginning, 10,280 pounds;
ending, 15,490 pounds.
4.
Selling and administrative expenses: $170,000; interest
expense: $30,000.
5.
Income...
Problem 4-26 (Part Level Submission) Swifty Company produces high-quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict manufacturing specifications, the company applies overhead on the basis of direct labor hours. At the beginning of 2017, the company estimated its manufacturing overhead would be $1,950,000 and that employees would work a total of 48,750 direct labor hours. During March, the company...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data. Raw Materials Inventory Work in Process Inventory $4,284 $5,652 Manufacturing Overhead Applied Manufacturing Overhead Incurred $33,293 $32,283 Subsidiary data for Work in Process Inventory on June 1 are as follows. Cost Element Direct materials Direct labor Manufacturing...
Problem 2-3A (Video) (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $3,900 Manufacturing Overhead Applied $35,600 Work in Process Inventory $5,975 Manufacturing Overhead Incurred $29,400 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element...
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