Homework Answers
| Job No. 221 | Job No. 222 | Job No. 223 | Job No. 224 | Total | |
| Work in Process, beginning | 3600 | 4000 | 0 | 0 | 7600 |
| Direct materials | 1200 | 1700 | 2400 | 2600 | 7900 |
| Direct labor | 1600 | 2200 | 2900 | 2800 | 9500 |
| Manufacturing overhead | 960 | 1320 | 1740 | 1680 | 5700 |
| Total cost | 7360 | 9220 | 7040 | 7080 | 30700 |
| Date | Account Titles and Explanation | Debit | Credit | |
| April 30 | Work in process inventory | 7900 | ||
| Manufacturing overhead | 600 | |||
| Raw materials inventory | 8500 | |||
| Work in process inventory | 9500 | |||
| Manufacturing overhead | 400 | |||
| Factory Labor | 9900 | |||
| Work in process inventory | 5700 | =9500*60% | ||
| Manufacturing overhead | 5700 | |||
| Finished goods inventory | 7360 | |||
| Work in process inventory | 7360 |
| Cost of Job 222 | 9220 |
| Cost of Job 223 | 7040 |
| Cost of Job 224 | 7080 |
| Work in process Inventory account at April 30 | 23340 |
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Exercise 167 Foster Manufacturing uses a job order cost accounting system. On April 1, the company...
Exercise 167 (Part Level Submission) Foster Manufacturing uses a job order cost accounting system. On April...
Exercise 167 (Part Level Submission) Foster Manufacturing uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of $7,600 and two jobs in process: Job No. 221, $3,600, and Job No. 222, $4,000. During April, a summary of source documents reveals the following: Materials Requisition Slips For Labor Time Tickets Job No. 221 $1,200 1,700 2,400 2,600 600 $8,500 $2,100 2,200 2,900 2,800 400 $10,400 223 224 General use Totals Foster applies manufacturing...
Exercise 167 (Part Level Submission) Foster Manufacturing uses a job order cost accounting system. On April...
Exercise 167 (Part Level Submission) Foster Manufacturing uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of $7,600 and two jobs in process: Job No. 221, $3,600, and Job No. 222, $4,000. During April, a summary of source documents reveals the following: Materials Requisition Slips For Labor Time Tickets Job No. 221 $1,200 1,700 2,400 2,600 600 $8,500 $2,100 2,200 2,900 2,800 400 $10,400 223 224 General use Totals Foster applies manufacturing...
19. Maxon Manufacturing Co. uses a job cost accounting system. On May 1, the company has...
19. Maxon Manufacturing Co. uses a job cost accounting system. On May 1, the company has $0 in its Work in Process (WIP) Inventory account. Maxon starts work on four Jobs in May (221-224). Jobs 221 and 222 completed on May 30. During May, a summary of production data shows the following: For Direct Materials Cost Direct Labor Cost Factory Overhead Cost Job 221 $4,800 $3,200 $1,536 Job 222 4,400 2,000 960 Job 223 3,900 2.000 $??? Job 224 2,500...
Coronado Printing Corp. uses a job order cost system. The following data summarize the operations related...
Coronado Printing Corp. uses a job order cost system. The
following data summarize the operations related to the first
quarter’s production. 1. Materials purchased on account $197,100,
and factory wages incurred $93,300. 2. Materials requisitioned and
factory labor used by job: Job Number Materials Factory Labor A20
$37,840 $19,000 A21 44,620 23,700 A22 36,700 15,700 A23 40,370
26,500 General factory use 5,270 8,400 $164,800 $93,300 3.
Manufacturing overhead costs incurred on account $52,200. 4.
Depreciation on factory equipment $16,750. 5....
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...
Pedriani Company uses a job order cost system and applies overhead on the basis of direct...
Pedriani Company uses a job order cost system and applies overhead on the basis of direct labor hours. On Jan01, 2017, Job No. 25 was the only job in process. Costs incurred prior to Jan01 on this job were as follows: direct materials $10,000; direct labor $6,000; and manufacturing overhead $9,000. Job No. 23 had been completed at a cost of $42,000 and was part of finished goods inventory. There was a $5,000 balance in the Raw Materials Inventory account. During the...
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...
Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as...
Lamonda Corp. uses a job order
cost system. On April 1, the accounts had balances as shown in the
T-accounts below: The following transactions occurred during April:
(a) Purchased materials on account at a cost of $136,000. (b)
Requisitioned materials at a cost of $122,000, of which $28,000 was
for general factory use. (c) Recorded factory labor of $155,000, of
which $24,000 was indirect. (d) Incurred other costs:
Lamonda Corp. uses a job order cost system. On April 1, the...
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 167 (Part Level Submission) Foster Manufacturing uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of $7,600 and two jobs in process: Job No. 221, $3,600, and Job No. 222, $4,000. During April, a summary of source documents reveals the following: Materials Requisition Slips For Labor Time Tickets Job No. 221 $1,200 1,700 2,400 2,600 600 $8,500 $2,100 2,200 2,900 2,800 400 $10,400 223 224 General use Totals Foster applies manufacturing...
Exercise 167 (Part Level Submission) Foster Manufacturing uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of $7,600 and two jobs in process: Job No. 221, $3,600, and Job No. 222, $4,000. During April, a summary of source documents reveals the following: Materials Requisition Slips For Labor Time Tickets Job No. 221 $1,200 1,700 2,400 2,600 600 $8,500 $2,100 2,200 2,900 2,800 400 $10,400 223 224 General use Totals Foster applies manufacturing...
19. Maxon Manufacturing Co. uses a job cost accounting system. On May 1, the company has $0 in its Work in Process (WIP) Inventory account. Maxon starts work on four Jobs in May (221-224). Jobs 221 and 222 completed on May 30. During May, a summary of production data shows the following: For Direct Materials Cost Direct Labor Cost Factory Overhead Cost Job 221 $4,800 $3,200 $1,536 Job 222 4,400 2,000 960 Job 223 3,900 2.000 $??? Job 224 2,500...
Coronado Printing Corp. uses a job order cost system. The
following data summarize the operations related to the first
quarter’s production. 1. Materials purchased on account $197,100,
and factory wages incurred $93,300. 2. Materials requisitioned and
factory labor used by job: Job Number Materials Factory Labor A20
$37,840 $19,000 A21 44,620 23,700 A22 36,700 15,700 A23 40,370
26,500 General factory use 5,270 8,400 $164,800 $93,300 3.
Manufacturing overhead costs incurred on account $52,200. 4.
Depreciation on factory equipment $16,750. 5....
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 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...
Lamonda Corp. uses a job order
cost system. On April 1, the accounts had balances as shown in the
T-accounts below: The following transactions occurred during April:
(a) Purchased materials on account at a cost of $136,000. (b)
Requisitioned materials at a cost of $122,000, of which $28,000 was
for general factory use. (c) Recorded factory labor of $155,000, of
which $24,000 was indirect. (d) Incurred other costs:
Lamonda Corp. uses a job order cost system. On April 1, the...
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