Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A job cost sheet of Sheridan Company is given below. Job Cost Sheet JOB NO. 469 Quantity 2,500 ITEM White Lion Cages Date Requested 7/2
A job cost sheet of Sheridan Company is given below. Job Cost Sheet JOB NO. 469 Quantity 2,500 ITEM White Lion Cages Date Requested 7/2 FOR Todd Company Date Completed 7/31 Direct Materials Direct Labor Manufacturing Overhead Date 7/10 700 12 900 15 600 750 22 400 500 24 1,650 27 1,525 31 500 625 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost Answer the following questions. (1) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job? Source Documents Direct materials Direct labor Manufacturing overhead (2) Overhead is applied on the basis of direct labor cost. What is the predetermined manufacturing overhead rate? Predetermined manufacturing overhead rate % (3) What are the total cost and the unit cost of the completed job? (Round unit cost to 2 decimal places, e.g. 1.25.) Total cost of the completed job $ Unit cost of the completed job $ List of Accounts Prepare the entry to record the completion of the job. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started