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#1 is correct and WIP for #2 is correct. The rest I can not figure out. Diamond Morehead Managerial Accounting 4B: Acct 4B Spr 2018
#1 is correct and WIP for #2 is correct. The rest I can not figure out.
Diamond Morehead Managerial Accounting 4B: Acct 4B Spr 2018 2pm ACCOUNTING Chapter 2 hw instructions I help sarve & Exit I submit Question 1 (of 8) 2.00 points Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the folkowing COStS Work in Process Balance $ 4,600 3,700 5 8,300 Job 33 Job 34 Source documents revealed the following dring March: Materials Requisitions Labor Time Forms Tickets Status of Job at Month-End Job 33 S 3,200 .700 Completed and sold Job 34 Job 35 Indirect 2,400 3,000 3,900 Completed, but not sold ,400 In pracess 1,400 5 9,700 5 13,400 The company applies overhead to products at a rate ot 55 percent ot direct labor cost Required 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month Cost Job 33 S Job 343 Job 35$ 15,095 2,145 8,270 2. Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Gcods Sold accounts at month-end. Work in Process Inventory Finished Goods Inventory Cost of Goods Sold 5 6,270 5 22,145 27,585 Book & Resources Worksheet Learning Objeclive. 02-02 Describe the source documents used to track direct Learning Objectlive. 02-04 Describe how costs flow through the accounting system in job order costing materials and direct labor costs to the jot cost sheet Ditticulty: 2 Medium Leaning Objective: 02-03 Calculate a predetermined overhead rate and use it to apply manufacturing overhead cost to jobs Ask your instructor a question Check my workStep by Step Solution
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