Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Please provide detailed process, thank you! Q9 Blast Company is a manufacturer that uses job-order costing. Blast applies factory overhead using direct labor dollars

image text in transcribed2.

image text in transcribed

Please provide detailed process, thank you!

Q9 Blast Company is a manufacturer that uses job-order costing. Blast applies factory overhead using direct labor dollars as the cost driver and disposes of any over/under applied overhead using the method covered in class. Blast purchases 100\% of its Raw Materials on account from vendor, Jinx Company and provides you the following information about its factory operations: For the twelve months ended 12/31/20X2: Consider that Blast reported Sales Revenue for the twelve months ended 12/31/20X2 of $2,100,000. At the end of 20X2, Blast had only a single factory job still in process, Job \#2314, which was also started in 20X2. Job \#2314's cost record shows $30,000 of direct materials requisitioned and $48,000 of direct labor. How much cash was paid in 20X2 for the purchase of Raw Materials? A.$189,000B.$198,000C.$200,000D.$202,000E.Noneoftheanswersprovidedarecorrect. What was the company's cost of goods manufactured for the twelve months ended 12/31/20X2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions