Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Complete this question by answering the tabs below. Byrnes Company shows the following costs for three jobs worked on in April. Job 306 Job 307
Complete this question by answering the tabs below.
Byrnes Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 $ 30,800 21,800 10,900 $ 37,700 18,900 9,450 Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead Status on April 30 136,800 88,600 222,700 154,500 $ 100,900 105,900 2 Finished (sold) Pinished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $84,500. b. Raw materials purchases in April are $501,800, and total factory payroll cost in April is $372,900. c. Actual overhead costs incurred in April are indirect materials, $50,900; indirect labor, $23,900; factory rent, $32,900; factory utilities, $19,900; and factory equipment depreciation, $52,800. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $610,000 cash in April. Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Byrnes Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 $ 30,800 21,800 10,900 $ 37,700 18,900 9,450 Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead Status on April 30 136,800 88,600 222,700 154,500 $ 100,900 105,900 2 Finished (sold) Pinished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $84,500. b. Raw materials purchases in April are $501,800, and total factory payroll cost in April is $372,900. c. Actual overhead costs incurred in April are indirect materials, $50,900; indirect labor, $23,900; factory rent, $32,900; factory utilities, $19,900; and factory equipment depreciation, $52,800. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $610,000 cash in April. Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit 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