Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A job order cost sheet for Ryan Company is shown below. Job No. 92 Date Beg. bal. Jan. 1 8 12 Total cost 25 27
A job order cost sheet for Ryan Company is shown below. Job No. 92 Date Beg. bal. Jan. 1 8 12 Total cost 25 27 Direct Materials Cost of completed job: Direct materials Direct labor 6,700 7,000 2,800 16,500 Manufacturing overhead Unit cost ($52,900 2,000) Direct Labor 7,000 10,000 4,000 21,000 $16,500 21,000 15,400 $52,900 $26.45 For 2,000 Units Manufacturing Overhead Balance in Work in Process Inventory on January 1 4,900 LA 7,500 15,400 (a) On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job? $ 3,000
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