Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exhibit 17-2 Flow of Product Costs in Job Order Costing Direct Materials Direct Labor Manufacturing Overhead Job 27, Job 28 Job 20 Assigned to

Job Order CostsExhibit 17-2 Flow of Product Costs in Job Order CostingDirect Materialsdoba 27, ob 21Job 20Assigned toDi

Discussion Board Chapter 17Look on page 911 at Exhibit 17-2 Flow of Product Costs in Job Order Costing) in Chapter 17. You a 

Exhibit 17-2 Flow of Product Costs in Job Order Costing Direct Materials Direct Labor Manufacturing Overhead Job 27, Job 28 Job 20 Assigned to Work-in-Process Inventory Ending Balance: Cost of Job 29 Costs for each job are added to WIP Job 27, Job 28 Completed Job Order Costing Finished Goods Inventory Ending Balance: Cost of Job 28 When jobs are completed, the costs are transferred out of WIP into FG. This amount is called the job's Cost of Goods Manufactured (COGMI Job 27 Sold Cost of Goods Sold Ending Balance: Cost of Job 27 When jobs are sold, the costs are transferred out of FG into COGS. Discussion Board Chapter 17 Look on page 911 at Exhibit 17-2 (Flow of Product Costs in Job Order Costing) in Chapter 17. You are going to make a new carport and you are a building contractor. Please list in at least 200 words to receive credit of what will be used in Direct Materials, Direct Labor, MOH and how it flows into WIP and through Finished Goods and eventually through COGS. No numbers are required.

Step by Step Solution

3.39 Rating (152 Votes )

There are 3 Steps involved in it

Step: 1

A work sheet is used to keep track of the following expenditures direct material labor and overhead ... 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_2

Step: 3

blur-text-image_3

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

Financial and Managerial Accounting

Authors: Horngren, Harrison, Oliver

3rd Edition

978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978

More Books

Students also viewed these Accounting questions