Acct Chap 13 Kimmel

In January, Reyes Device & Absorb dyes requisitions unprocessed trash for production as follows: Job 1 $960, Job two $1, 630, Job a few $720, and general manufacturer use $680. During January, time tickets show which the factory labor of $6, 100 was used as follows: Job 1 $1, 570, Task 2 $1, 940 Work 3 $1, 670, and general stock use $920. Prepare the job cost bedding for each of the three careers. (If solution is actually zero, please enter in 0, will not leave virtually any fields write off. ) Work 1 Day 1/31 1/31 Direct Elements 960 zero Job 2 Date 1/31 1/31 Direct Materials 1630 0 Work 3 Day 1/31 1/31 Direct Components 720 0 0 1670 Direct Labor 0 one particular, 940 Immediate Labor zero 1570 Direct Labor

In March, Hollaway Company accomplishes Jobs 15 and 11. Job 12 cost $28, 110 and Job 11 $32, 630. On March 31, Work 10 is sold to the customer intended for $38, 110 in cash. Journalize the entries pertaining to the completion of the two jobs and the sale of Job 12. Date Marly. 31 Account/Description Finished products inventory Operate process inventory (To record completion of jobs. ) Mar. 31 Money 38, 128 60740 60740 Debit Credit rating

Sales (To record sale for job. ) Mar. 23 Cost of products sold Finished goods inventory (To record cost of job. ) 28110

38, one hundred ten

28110

(a) + $50, 000 & $42, five-hundred = $155, 650 (a) = $63, 150 $155, 650 + (b) = $201, 500 (b) = $45, eight hundred fifty $201, 500 - (c) = $192, 300 (c) = $9, 200 [Note: The instructions reveal that production overhead is definitely applied on the foundation of immediate labor cost, and the level is the same in all cases. From Circumstance A, a student should take note the overhead rate to get 85%, or perhaps ($42, five-hundred Г· 50 dollars, 000). ] (d) =. eighty-five Г— $120, 000 (d) = $102, 000 $83, 000 & $120, 000 + $102, 000 = (e) (e) =$305, 1000 $305, 500 + $15, 500 = (f) (f) = $320, 500 $320, 500 -- $11, 800 = (g) (g) sama dengan $308, seven hundred [Note: (h) and (i) happen to be solved collectively. ] (i) =. 85(h) $63, 150 & (h) +. 85(h) = $213, 500 1 . 85(h) = $149, 850 (h) = $81, 000 (i) = $68, 850 (j) = $213, 000 + $18, 000 (j) = $231, 000 $231, 500 - (k) = $222, 000 (k) = $9, 000 Developing cost info for Pena Company, which will uses a task order cost system, will be presented below. Indicate the missing volume for each notice. Assume that in all cases manufacturing overhead is usually applied on the foundation of direct labor price and the rate is the same. Case A Case B Circumstance C Immediate materials used Direct labor Manufacturing over head applied Total manufacturing costs a $63, 150 55, 000 40, 500 155, 650 bucks 83, 1000 120, 1000 d 102, 000 elizabeth 305, 500 $ 63, 150 l 81, 1000 i 68, 850 213, 000

Work in process 1/1/10 Total expense of work in process Work in process 12/31/10 Expense of goods created

b forty-five, 850 201, 500 c 9, two hundred 192, three hundred

15, 500 f 320, 500 10, 800 g 308, seven hundred

18, 000 j 231, 000 t 9, 500 222, 500

Easy Designing uses a work order priced at system to gather the costs of its interior design business. Each client's assessment is cured as a separate job. Overhead is applied to each job based on the amount of decorator hours incurred. Listed here are data intended for the current year. Budgeted cost to do business Actual cost to do business Budgeted designer hours Actual decorator hours The company uses Operating Over head in place of Making Overhead. $1, 000, 500 $779, 550 40, 000 30, 750

Correct.

Calculate the predetermined overhead level. $ twenty-five

Correct.

Prepare the access to apply the overhead pertaining to the year.

Account/Description Work in method Operating cost to do business 768750

Charge

Credit

768750

Correct.

Decide whether the overhead was under- or overapplied and by how much. $ 10800 Underapplied

P15-2A

For 12 months ended January 31, 2010, the job cost sheets of DeVoe Company contained the next data. Job Number Reason 7640 Balance 1/1 Immediate Materials $25, 000 Direct Labor $24, 000 Manufacturing Overhead $28, 800 Total Costs $77, 800

7641

7642 Other data: 1 ) Raw materials products on hand totaled $15, 000 upon January 1 . During the year, $140, 000 of raw materials had been purchased on account. installment payments on your Finished products on January 1 contained Job Number 7638 intended for $87, 000 and Task No . 7639 for $92, 000. 3. Job Number 7640 and Job No . 7641 were completed throughout the...