In a job-costing system, the following list of transactions for a month is to be entered in
Question:
In a job-costing system, the following list of transactions for a month is to be entered in the relevant ledger accounts. In which ledger accounts would each of these figures be located?
Transcribed Image Text:
Purchases of raw materials Wages paid to production employees Salary of personnel manager Sales Heat and light expense paid 45,000 16,000 2,000 65,000 6,500
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
In a jobcosting system costs are assigned to individual jobs or batches Below is how each of the transactions listed would generally be entered in the ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Rinaldo arrives in a cheerful mood because he has just received some new sales prospects. You congratulate him and tell him about your Sage 50 experiences. He is pleased with your progress but says...
-
1.2.1 The format recommended by the International Financial Reporting Standards for the preparation of a statement of profit or loss and other comprehensive income calculates and shows the gross...
-
Division A of ABC, Inc. produces part TZ20 that is used by Division B in the manufacture of product 100BD.Below is a summary of the manufacturing costs of the TZ20 part: Direct Labour $8.00 per unit...
-
In spherical polar coordinates, as in Fig. P4.12, the flow is called axisymmetric if 0 and / 0, so that r = r(r, ) and = (r, ). Show that a stream function (r, ) exists for this case and is given by...
-
Learn ways to increase employee satisfaction and commitment
-
M/s. XYZ Co. has a single process. Work-in-progress (opening) = 8,000 units Rs Cost: Materials 29,600 Wages 6,600 Overheads 5,800 During the period, the input was 32,000 units. Additional cost data...
-
Johnnys Lunches is considering purchasing a new, energy-efficient grill. The grill will cost $40,000 and will be depreciated according to the 3-year MACRS schedule. It will be sold for scrap metal...
-
Hybrid securities are quite susceptible to be reclassified as stock. Which of the following might be a characteristic of a hybrid security? a. a maturity date that is reasonably close in time B. The...
-
Identify the issue in the following two fact situations. Part A Beth loaned Allen $5,000. The agreement was oral. Allen commutes to a nearby city to work. Beth needs to go to the city three times in...
-
In a job-costing system, the production department orders 20 components from store at a cost of 4 each, to be used on job 36. Explain how this transaction will be recorded in a debit and credit...
-
What is the purpose of a contract ledger account and what types of entry would you expect to see there.
-
For a child born in 1996, the cost of a 4-year college education at a public university is projected to be $150,000. Assuming an 8% per annum rate of return compounded monthly, how much must be...
-
Case Study : While it might be easy to see the negative effects on the environment from car emissions or the waste we produce, fewer people think about the effects of discarded clothes on the...
-
CompanyWeek 8 Assignment - Financial Statement Analysis Overview In this assignment, you will take your work with financial statements to the next level. You will analyze financial statements similar...
-
In Exercises 9-12, assume that 100 births are randomly selected. Use subjective judgment to describe the given number of girls as (a) significantly low, (b) significantly high, or (c) neither...
-
Which of the following is not included in the cash flow statement? a. Cash from short-term investments b. Cash from operations c. Cash from the balance sheet d. Cash from capital financing Which of...
-
Case Study Chapter 13B Pharm - Saved Case Study Chapter 13 Central Nervous System Stimulants and Related Drugs Nancy has been unsuccessful in preventing migraine headaches and has been prescribed a...
-
Bonds A and B are two straight yen-denominated international bonds, with the same maturity of four years and the same YTM of 9 percent. Bond A has an annual coupon of 11 percent and is accordingly...
-
As long as we can't lose any money, we have a risk-free investment." Discuss this comment. Q2: Both investing and gambling can be defined as "undertaking risk in order to earn a profit." Explain how...
-
The equipment at cost account at the start of Year 2 records a total of 34m. The equipment at cost account at the end of Year 2 records a total of 37m. An asset of original cost 5m was sold during...
-
The equipment at cost account at the start of Year 2 records a total of 34m. The equipment at cost account at the end of Year 2 records a total of 37m. An asset of original cost 5m was sold during...
-
A vehicle costing 20m and having accumulated depreciation of 12m was sold for 5m. How will this information be reported in the statement of cash flows?
-
Break-Even Sales and Sales to Realize Income from Operations For the current year ending October 31, Yentling Company expects fixed costs of $537,600, a unit variable cost of $50, and a unit selling...
-
You buy a stock for $35 per share. One year later you receive a dividend of $3.50 per share and sell the stock for $30 per share. What is your total rate of return on this investment? What is your...
-
Filippucci Company used a budgeted indirect-cost rate for its manufacturing operations, the amount allocated ($200,000) is different from the actual amount incurred ($225,000). Ending balances in the...
Study smarter with the SolutionInn App