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can someone answer it i want answer on the all the questions of this problem step by step answer Crane Manufacturing uses a job-order cost
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Crane Manufacturing uses a job-order cost system and applies overhead to production on the basis of direct labour costs. On January 1,2022, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $30,400, direct labour $15,000, and manufacturing overhead $20,000. As at January 1, Job No. 49 had been completed at a cost of $121,000 and was part of finished goods inventory. There was a $25,900 balance in the Raw Materials Inventory account on January 1. During the month of January, Crane Manufacturing began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold on account during the month for $152,500 and $198,000, respectively. The following additional events occurred during the month: 1. Crane purchased additional raw materials of $106,000 on account. 2. It incurred factory labour costs of $75,100. 3. It incurred manufacturing overhead costs as follows: depreciation on equipment $14,500, and various other manufacturing overhead costs on account $23,000. 4. It assigned direct materials and direct labour to jobs as follows: w Direct Materials Direct Labour Job No. 50 $12,100 $7,300 1. Crane purchased additional raw materials of $106,000 on account. 2. It incurred factory labour costs of $75,100. 3. It incurred manufacturing overhead costs as follows: depreciation on equipment $14,500, and various other manufacturing overhead costs on account $23,000. 4 It assigned direct materials and direct labour to jobs as follows: Direct Materials Direct Labour Job No. 50 $12.100 $7.300 51 42.900 28.200 52 35.300 22.100 5. It assigned indirect materials of $17,400 and indirect labour of $18,000. Crane Manufacturing uses a job-order cost system and applies overhead to production on the basis of direct labour costs. On January 1,2022, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $30,400, direct labour $15,000, and manufacturing overhead $20,000. As at January 1, Job No.49 had been completed at a cost of $121,000 and was part of finished goods inventory. There was a $25,900 balance in the Raw Materials Inventory account on January 1. During the month of January, Crane Manufacturing began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold on account during the month for $152,500 and $198,000, respectively. The following additional events occurred during the month: 1. Crane purchased additional raw materials of $106,000 on account. 2. It incurred factory labour costs of $75,100. 3. It incurred manufacturing overhead costs as follows: depreciation on equipment $14,500, and various other manufacturing overhead costs on account $23,000. 4. It assigned direct materials and direct labour to jobs as follows: Direct Materials Direct Labour Job No. Direct Materials Job No. Direct Labour 50 $7,300 $12,100 w 42,900 51 28,200 52 35,300 22,100 5. It assigned indirect materials of $17,400 and indirect labour of $18,000. JUD COSL Seels Job No. 50 Direct Materials Direct Labour Date Manufacturing Overhead Beg. $30,400 $15,000 $20,000 Jan. 12100 7300 $ $ $ Job No.51 Date Direct Materials Direct Labour Manufacturing Overhead Jan. $ $ $ $ $ $ Job No. 51 Date Direct Materials Direct Labour Manufacturing Overhead Jan. $ $ $ $ $ N Job No. 52 Date Direct Materials Direct Labour Manufacturing Overhead Jan. $ $ $ $ $Step by Step Solution
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