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Can I see the solutions for this problem? I would like the work and answers. Job 2 ob 3 Total 4,000 8,000 4,000 $18,000 $12.800
Can I see the solutions for this problem? I would like the work and answers.
Job 2 ob 3 Total 4,000 8,000 4,000 $18,000 $12.800 Factory overhead is applied using a predetermined overbead rate of $0.60 per direct labor dollar. Jobs 2 and 3 were completed during the period and Job 3 was sold for $20,000 cash. Lehigh paid $800 for selling and administrative expenses. Actual factory overhead was $11,300. Required a. Record the preceding events in a horizontal statements model. The first event for 2019 has been recorded as an example. Assets Cash Raw M. MOHWIPF. Goods $60,000 NA NA NA NA$60,000NA NANA NA b. Reconcile all subsidiary accounts with their respective control accounts c. Record the closing entry for over- or underapplied manufacturing overbead in the horizontal state- ments model, assuming that the amount is insignificant. d. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2019. Problem 12-14A LO 12-2 IGURE $6,148 sets: $32,102 Job-order costing system Construction Company began operations on January 1, 2019, when it acquired $30,000 cash $6,000 of direct raw materials from the issuance of common stock. and used $5,640 of the direct materials. There were 108 hours of direct labor worked at an average rate of $20 per hour paid in cash. The predetermined overhead rate was $9 per direct labor hour. The com- pany started construction on three allocations of costs to each building: During the year, Ladora Direct Materials Direct Labor Hours $1,440 2.400 1,800 Job 1 Job 2 Job 3 30 50 28 The company paid $320 cash for indirect labor costs. Actual overhead cost paid in cash other than indirect labor was $640. Ladora completed Jobs 1 and 2 and sold Job I for $5,000 cash. The company incurred $600 of selling and administrative expenses that were paid in cash. Over- or underapplied overhead is closed to Cost of Goods Sold. Record the preceding events in a horizontal statements model. The first event for 2019 has been recorded as an example. a. Assets Equity Cash + Raw M. + MOH + wip + F, Goods .Stk + Ret. Ear. Re. - Ern- 0,000NA NA NA NA30,000NA Exp. = Net Inc Step by Step Solution
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