Homework Answers
A)
| Date | Account title | Debit | credit |
| 1 | Work in process inventory (11200-800) | 10400 | |
| Manufacturing overhead | 800 | ||
| Raw material inventory | 11200 | ||
| 2 | Work in process inventory (13700-1200) | 12500 | |
| Manufacturing overhead | 1200 | ||
| Factory labor | 13700 | ||
| 3 | Work in process inventory | 10000 | |
| Manufacturing overhead (12500 direct labor cost* 80%) | 10000 | ||
| 4 | Finished goods inventory | 10600 | |
| work in process inventory | 10600 | ||
| 1 |
Note :Cost of Job 535 =Beginning balance +Direct material+ Direct labor +overhead applied
= 1700+3500+3000 + (3000*80%
=1700+ 3500 +3000 +2400
= 10600
B)
| WORK IN PROCESS INVENTORY | |||
| Beg Bal (2500+1700) | 4200 | Finished goods inventory` | 10600 |
| Direct material | 10400 | ||
| Direct labor | 12500 | ||
| manufacturing overhead | 10000 | ||
| Ending balance [4200+10400+12500+10000-10600] | 26500 |
C)
| Job 534 | Job 536 | Total cost of Work in process | |
| Beg Bal | 2500 | 0 | 2500 |
| Direct material | 2500 | 4400 | 6900 |
| Direct labor | 1900 | 7600 | 9500 |
| manufacturing overhead | 1900*80%=1520 | 7600*80%= 6080 | 7600 |
| Ending balance | 8420 | 18080 | 26500 |
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Please complete Exercise as follows: Mitsy's Manufacturing Company accounts for jobs using a job order costing...
Milner Manufacturing uses a job-order costing system. On May 1, the company has a balance in...
Milner Manufacturing uses a job-order costing system. On May 1, the company has a balance in Work in Process Inventory of $3,800 and two jobs in process: Job No. 429 $2,120, and Job No. 430 $1,680. During May, a summary of source documents reveals the following: Job Number Labour Time Tickets 429 Materials Requisition Slips $2,350 39 3,830 $2,020 430 3,410 7.720 4.470 431 General use $10,650 1.160 $11.810 $13,150 1,680 $14,830 Milner Manufacturing applies manufacturing overhead to jobs at...
Exercise 15-02 a-b (Video) Sheridan Company uses a job order cost system. On May 1, the...
Exercise 15-02 a-b (Video) Sheridan Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,170 and two jobs in process: Job No. 429 $2,490, and Job No. 430 $1,680. During May, a summary of source documents reveals the following. Job Number 429 430 431 General use Materials Requisition Slips $2,870 3,910 4,970 $11,750 960 $12,710 Labor Time Tickets $2,100 3,300 8,200 $13,600 1,550 $15,150 Sheridan Company applies manufacturing...
ACO2 Lamar Manufacturing uses a job order cost accounting system. On May 1, the company has a balance in Work in Proces...
ACO2 Lamar Manufacturing uses a job order cost accounting system. On May 1, the company has a balance in Work in Process Inventory of $3,200 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,200. During May, a summary of source documents reveals the following. Materials Requisition Slips Labor Time Tickets Job Number 429 430 431 General use $2,500 3,600 4,400 $2,200 3,000 7,600 $10,500 1,800 $12,300 $12,800 1,950 $14,750 Lamar Manufacturing applies manufacturing overhead to...
Mint Manufacturing uses a job order cost accounting system. On May 1, the company has a...
Mint Manufacturing uses a job order cost accounting system. On May 1, the company has a balance in Work in Process Inventory of $5,500 and two jobs in process: Job No. 429, $3,000 and Job No. 430, $2,500. During May, a summary of source documents reveals the following: For Materials Requisition Slips Labor Time Tickets Job No. 429 $ 3,500 $ 4,400 Job No. 430 2,600 3,400 Job No. 431 3,400 4,200 Job No. 432 3,000 4,000...
Mint Manufacturing uses a job order cost accounting system. On May 1, the company has a...
Mint Manufacturing uses a job order cost accounting system. On May 1, the company has a balance in Work in Process Inventory of $5,500 and two jobs in process: Job No. 429, $3,000 and Job No. 430, $2,500. During May, a summary of source documents reveals the following: For Materials Requisition Slips Labor Time Tickets Job No. 429 $ 3,500 $ 4,400 Job No. 430 2,600 3,400 Job No. 431 3,400 4,200 Job No. 432 3,000 4,000...
Exercise 15-02 a-b (Video) Waterway Company uses a job order cost system. On May 1, the...
Exercise 15-02 a-b (Video) Waterway Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,900 and two jobs in process: Job No. 429 $2,450, and Job No. 430 $1,450. During May, a summary of source documents reveals the following Materials Requisition Slips Labor Time Tickets $3,000 Job Number 429 430 431 3,730 4.710 $2,200 3,400 8,200 General use $11,440 930 $12,420 $13,000 1,330 $15,130 Waterway Company applies manufacturing...
Stine Company uses a job order cost system. On May 1, the company has a balance...
Stine Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $4,240 and
two jobs in process: Job No. 429 $2,580, and Job No. 430 $1,660.
During May, a summary of source documents reveals the
following.
Job Number
Materials
Requisition Slips
Labor Time
Tickets
429
$3,040
$2,100
430
3,680
3,300
431
4,710
$11,430
8,100
$13,500
General use
940
1,360
$12,370
$14,860
Stine Company applies manufacturing overhead to jobs at...
Stine Company uses a job order cost system. On May 1, the company has a balance...
Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May, a summary of source documents reveals the following. Job Number Materials Requisition Slips Labor Time Tickets 429 $2,500 $1,900 430 3,500 3,000 431 4,400 $10,400 7,600 $12,500 General use 800 1,200 $11,200 $13,700 Stine Company applies manufacturing overhead to jobs at...
Exercise 16-2 Stine Company uses a job order cost system. On May 1, the company has...
Exercise 16-2
Stine Company uses a job order cost system. On May 1, the company
has a balance in Work in Process Inventory of $3,500 and two jobs
in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May,
a summary of source documents reveals the following.
Job Number
Materials
Requisition Slips
Labor Time
Tickets
429
$2,500
$1,900
430
3,500
3,000
431
4,400
$10,400
7,600
$12,500
General use
800
1,200
$11,200
$13,700
Stine Company applies manufacturing overhead to...
Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has...
Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,650 and two jobs in process: Job No. 429 $2,290, and Job No. 430 $1,360. During May, a summary of source documents reveals the following. Materials Labor Time Tickets Job Number Requisition Slips 429 $2,950 $2,410 3,440 430 4,000 431 4,740 $11,690 8,080 $13,930 General use 900 1,750 $12,590 $15,680 Stine Company applies manufacturing overhead to...
Milner Manufacturing uses a job-order costing system. On May 1, the company has a balance in Work in Process Inventory of $3,800 and two jobs in process: Job No. 429 $2,120, and Job No. 430 $1,680. During May, a summary of source documents reveals the following: Job Number Labour Time Tickets 429 Materials Requisition Slips $2,350 39 3,830 $2,020 430 3,410 7.720 4.470 431 General use $10,650 1.160 $11.810 $13,150 1,680 $14,830 Milner Manufacturing applies manufacturing overhead to jobs at...
Exercise 15-02 a-b (Video) Sheridan Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,170 and two jobs in process: Job No. 429 $2,490, and Job No. 430 $1,680. During May, a summary of source documents reveals the following. Job Number 429 430 431 General use Materials Requisition Slips $2,870 3,910 4,970 $11,750 960 $12,710 Labor Time Tickets $2,100 3,300 8,200 $13,600 1,550 $15,150 Sheridan Company applies manufacturing...
ACO2 Lamar Manufacturing uses a job order cost accounting system. On May 1, the company has a balance in Work in Process Inventory of $3,200 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,200. During May, a summary of source documents reveals the following. Materials Requisition Slips Labor Time Tickets Job Number 429 430 431 General use $2,500 3,600 4,400 $2,200 3,000 7,600 $10,500 1,800 $12,300 $12,800 1,950 $14,750 Lamar Manufacturing applies manufacturing overhead to...
Exercise 15-02 a-b (Video) Waterway Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,900 and two jobs in process: Job No. 429 $2,450, and Job No. 430 $1,450. During May, a summary of source documents reveals the following Materials Requisition Slips Labor Time Tickets $3,000 Job Number 429 430 431 3,730 4.710 $2,200 3,400 8,200 General use $11,440 930 $12,420 $13,000 1,330 $15,130 Waterway Company applies manufacturing...
Stine Company uses a job order cost system. On May 1, the
company has a balance in Work in Process Inventory of $4,240 and
two jobs in process: Job No. 429 $2,580, and Job No. 430 $1,660.
During May, a summary of source documents reveals the
following.
Job Number
Materials
Requisition Slips
Labor Time
Tickets
429
$3,040
$2,100
430
3,680
3,300
431
4,710
$11,430
8,100
$13,500
General use
940
1,360
$12,370
$14,860
Stine Company applies manufacturing overhead to jobs at...
Exercise 16-2
Stine Company uses a job order cost system. On May 1, the company
has a balance in Work in Process Inventory of $3,500 and two jobs
in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May,
a summary of source documents reveals the following.
Job Number
Materials
Requisition Slips
Labor Time
Tickets
429
$2,500
$1,900
430
3,500
3,000
431
4,400
$10,400
7,600
$12,500
General use
800
1,200
$11,200
$13,700
Stine Company applies manufacturing overhead to...
Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,650 and two jobs in process: Job No. 429 $2,290, and Job No. 430 $1,360. During May, a summary of source documents reveals the following. Materials Labor Time Tickets Job Number Requisition Slips 429 $2,950 $2,410 3,440 430 4,000 431 4,740 $11,690 8,080 $13,930 General use 900 1,750 $12,590 $15,680 Stine Company applies manufacturing overhead to...
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