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answer 1-3 please. thank you A 4 5 1) The following information is from the materials requisitions and time tickets for Job 9-1005 completed by
answer 1-3 please. thank you
A 4 5 1) The following information is from the materials requisitions and time tickets for Job 9-1005 completed by 6 Jackson's Jet Skis. The requisitions are identified by code numbers starting with the letter Q and the time 7 tickets start with W. At the start of the year, management estimated that overhead cost would equal 8 110% of direct labor cost for each job. Create a job cost card showing the cost of labor, materials & 9 overhead and the total cost for Job 9-1005. 10 11 12 Date Document Amount 13 7/1/2009 Q-4698 $ 2,500 14 7/1/2009 W-3393 1,200 15 7/5/2009 Q-4725 2,000 16 7/5/2009 W-3479 900 17 7/10/2009 W-3559 600 18 19 20 2) A company allocates overhead at a rate of 150% of direct labor cost. Actual overhead cost for the 21 current period is $480,000, and direct labor cost is $310,000. Prepare the entry to close over- or 22 underapplied overhead to cost of goods sold. 23 24 25 26 3) 27 28 29 30 31 32 33 34 Penn Company uses a job order cost accounting system. In the last month, the system accumulated labor time tickets totaling $25,600 for direct labor and $4,300 for indirect labor. These costs were accumulated in Factory Payroll as they were paid. Prepare the entry that Penn should make to assign the Factory PayrollStep by Step Solution
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