Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

CH2 interactive Presen 2 HW (Required) O 4 Jenkins Company uses a job urder sost system w The direct labor rate is $20 per

image text in transcribedimage text in transcribedimage text in transcribed

CH2 interactive Presen 2 HW (Required) O 4 Jenkins Company uses a job urder sost system w The direct labor rate is $20 per hour and the predeter company worked on tree jobs doing Apr Jobs A and completed and delivered to the customer April but not completed. The jib co Cost of Jobs in Process, April 1, Orrent Year 117. Direct Materials Used Brect Labor Applied Manufacturi Required er hour. The ing of Ape Awa Cwed during It no other jobs were started, completed, or sold, determine the balance each of the wing cuts the end of Ar Work in Proces Food e Cost of Goods So > Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April but not sold. Job C was started during April but not completed. The job cost sheets revealed the following costs for April: Job A Cost of Jobs in Process, April 1, Current Year $ 12,700 Direct Materials Used Job B $ 1,100 Job C $0 Direct Labor 2,700 11,400 9,400 9,400 11,100 3,700 Applied Manufacturing Overhead Required: If no other jobs were started, completed, or sold, determine the balance in each of the following accounts at the end of April: a. Work in Process b. Finished Goods c. Cost of Goods Sold Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April but not sold. Job C was started during April but not completed. The job cost sheets revealed the following costs for April: Job A Cost of Jobs in Process, April 1, Current Year $ 12,700 Job B $1,100 Job C Direct Materials Used Direct Labor Applied Manufacturing Overhead 2,700 11,400 ? 9,400 $ 0 11,100 9,400 3,700 7 ? Required: If no other jobs were started, completed, or sold, determine the balance in each of the following accounts at the end of April: a. Work in Process b. Finished Goods c. Cost of Goods Sold

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Step: 3

blur-text-image

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

Managerial Accounting

Authors: John J. Wild, Ken W. Shaw

2010 Edition

9789813155497, 73379581, 9813155493, 978-0073379586

More Books

Students also viewed these Accounting questions