Please do not give solution in image format thanku A company reports the following information on April 30, the end of its first month of operations.Job Number544545546547548549550ManufacturingCosts$ 15,6004,85044,00073,00016,8004,1501,550Job Status at April 30Completed and sold during AprilCompleted and sold during AprilIn processCompleted but not sold during AprilIn processCompleted but not sold during AprilIn processComplete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below.Required A Required BWhat is the cost of Work in Process Inventory on April 30?Work in Process InventoryTotalTotalRequired A$TotalRequired ATotal0What is the cost of Finished Goods Inventory on April 30?Required CRequired BFinished Goods InventoryTotal$Required BCost of Goods Sold$0What is the Cost of Goods Sold for the month of April?Required CTotalRequired C0

Name: Please do not give solution in image format thanku A company reports t
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Please do not give solution in image format thanku A company reports the following information on April 30, the end of its first month of operations.Job Number544545546547548549550ManufacturingCosts$ 15,6004,85044,00073,00016,8004,1501,550Job Status

The work in process includes the cost of goods which are not yet completed yet.The cost of goods…

Business

Accounting

A company reports the following information on April 30, the end of its first month of operations. Job Number 544 545 546 547 548 549 550 Manufacturing Costs $ 15,600 4,850 44,000 73,000 16,800 4,150 1,550 Job Status at April 30 Completed and sold during April Completed and sold during April In process Completed but not sold during April In process Completed but not sold during April In process

A company reports the following information on April 30, the end of its first month of operations. Job Number 544 545 546 547 548 549 550 Manufacturing Costs $ 15,600 4,850 44,000 73,000 16,800 4,150 1,550 Job Status at April 30 Completed and sold during April Completed and sold during April In process Completed but not sold during April In process Completed but not sold during April In process

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 12PB: The following data summarize the operations during the year. Prepare a journal entry for each...

See similar textbooks

Similar questions

The following data summarize the operations during the year. Prepare a journal entry for each transaction. A. Purchase of raw materials on account: $1,500 B. Raw materials used by Job 1: $400 C. Raw materials used as indirect materials: $50 D. Direct labor for Job 1: $200 E. Indirect labor Incurred for Job 1: $30 F. Factory utilities Incurred on account: $500 G. Adjusting entry for factory depreciation: $200 H. Manufacturing overhead applied as percent of direct labor: 100% I. Job 1 is transferred to finished goods J. Job 1 is sold: $1,000 K. Manufacturing overhead is under applied: $100
Entries and schedules for unfinished jobs and completed jobs Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations: A. Materials purchased on account, 147,000. B. Materials requisitioned and factory labor used: C. Factory overhead costs incurred on account, 6,000. D. Depreciation of machinery and equipment, 4,100. E. The factory overhead rate is 40 per machine hour. Machine hours used: F. Jobs completed: 101, 102, 103, and 105. G. Jobs were shipped and customers were billed as follows: Job 101, 62,900; Job 102, 80,700; Job 105, 45,500. Instructions 1. Journalize the entries to record the summarized operations. 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert memo account balances as of the end of the month. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.
Warren Manufacturing began business on January 1. During its first year of operation, Warren worked on five industrial jobs and reported the following information at year-end: Job 1 Job 5 $1,000 $1,500 12,000 800 1,500 200 Jun 30 Not completed Jul 10 N/A $25,000 N/A What was the balance in Finished Goods Inventory at year-end? Direct Materials Direct Labor Allocated Mfg. Overhead Job completed: Job sold: Revenues: OA. $43,300 OB. $33,700 OC. $23,200 O D. $20,100 Job 2 $7,500 20,000 6,000 Sep 1 Sep 12 $39,000 Job 3 $4,200 13,600 2,300 Oct 15 Not sold N/A Job 4 $3,400 12,500 7,300 Nov 1 Not sold N/A
Entry for factory labor costsA summary of the time tickets for the current month follows Job No. Amount 100101104108Indirect 111115117 $ 3,5006,65021,90014,440$9,1008.6202,76018,550 Journalize the entry to record the factory labor costs.
Recording Jobs Completed The following account appears in the ledger after only part of the postings have been completed for October: Work in Process Balance, October 1 $11,250 Direct materials 76,500 Direct labor 91,130 Factory overhead 50,630 Jobs finished during October are summarized as follows: Job 1004 $41,310 Job 1030 25,250 Job 1037 48,200 Job 1041 80,330 a. Determine the cost of jobs completed.$fill in the blank 1 b. Determine the cost of the unfinished jobs at October 31.$fill in the blank 2
Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in January: Work in Process $15,750 128,050 138,130 72,610 Balance, January 1 Direct materials Direct labor Factory overhead Jobs finished during January are summarized as follows: Job 210 $63,820 Job 224 $74,450 Job 216 39,000 Job 230 138,270 a. Journalize the entry to record the jobs completed. If an amount box does not require an entry, leave it blank. b. Determine the cost of the unfinished jobs at January 31.
Compute the ending balance of the Work-in-Process Inventory account for July. Job X14 Job X15 Total Direct materials $35,420 $14,700 $50,120 Direct labor 105,000 69,000 174,000 Applied overhead
Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in March: Work in Process Line Item Description Amount Balance, March 1 $9,950 Direct materials 80,890 Direct labor 87,260 Factory overhead 45,870 Jobs finished during March are summarized as follows: Line Item Description Amount Job 459 $40,310 Job 510 24,640 Job 512 47,030 Job 523 82,870 Question Content Area a. Journalize the entry to record the jobs completed. If an amount box does not require an entry, leave it blank. blankAccountDebitCredit blank Question Content Area b. Determine the cost of the unfinished jobs at March 31. fill in the blank 1 of 1$
Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in January: Work in Process Balance, January 1 $18,760 Direct materials 152,520 Direct labor 164,530 Factory overhead 86,480 Jobs finished during January are summarized as follows: Job 210 $76,010 Job 216 46,450 Job 224 88,680 Job 230 168,920 a. Journalize the entry to record the jobs completed. b. Determine the cost of the unfinished jobs at January 31.
J ok k nt 0 ences Cecconi Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead Status on April 30 Additional Information Requirement General Journal View transaction list Journal entry worksheet < General Ledger Prepare journal entries for the month of April's transactions. a. Raw Materials Inventory has a March 31 balance of $85,500. b. Raw materials purchases in April are $502,200, and total factory payroll cost in April is $375,100. c. Actual overhead costs incurred in April are indirect materials, $51,100; indirect labor, $24,100; factory rent, $33,100; factory utilities, $20,100; and factory equipment depreciation, $53,200. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $620,000 cash in April. 2 Date April 30 Complete this question by entering your answers in the tabs…
Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in January: Work in Process $11,010 89,510 96,560 50,760 Balance, January 1 Direct materials Direct labor Factory overhead Jobs finished during January are summarized as follows: Job 210 $44,610 Job 224 $52,050 Job 216 27,260 Job 230 99,140 a. Journalize the entry to record the jobs completed. If an amount box does not require an entry, leave it blank. 188 b. Determine the cost of the unfinished jobs at January 31. $ LA
Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in January: Work in Process Balance, January 1 $11,420 Direct materials 92,840 Direct labor 100,150 Factory overhead 52,650 Jobs finished during January are summarized as follows: Job 210 $46,270 Job 224 $53,980 Job 216 28,280 Job 230 97,680 a. Journalize the entry to record the jobs completed. If an amount box does not require an entry, leave it blank. - Select - - Select - - Select - - Select - b. Determine the cost of the unfinished jobs at January 31.$fill in the blank 14d786ff9fe8ffc_1