Question
Company Belera is a manufacturing firm producing specialized equipments. June 1, 2018 B/S shows below balances: Item Beg RM 4,270 MOH Applied 32,740 MOH Incurred
Company Belera is a manufacturing firm producing specialized equipments. June 1, 2018 B/S shows below balances:
Item Beg
RM 4,270
MOH Applied 32,740
MOH Incurred 36,650
June 1, 2018 subsidiary ledgers (job cost sheets) show 3 jobs are being performed with following balances :
Assigned Costs DM DL MOH
R 660 320 408
S 800 548 675
L 980 580 765
During June, RM purchases on account were TL4,940, and all wages (inclusive of payroll taxes) were paid in cash. Additional MOH of depreciation on factory equipment of TL900 was incurred together with miscellaneous production costs of TL440 on account. A summary of MRSs and LTTs shows below information.
Assigned Costs DM DL
R 870 850
K 2,000 870
S 560 360
L 1,300 1,260
R 360 390
General Use 1,500 1,208
MOH was charged to jobs at a rate of 1.85 per TL of DL costs. Jobs R, S and L were completed in June and sold for a total of TL19,400 in cash.
a) Compute the balance of WIP as at June 30.
b) Compute the balance of FG as at June 30.
c) Calculate the balance of MOH account as at June 30.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started