Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cost of Services Schedule Tab: - All the numbers needed for this schedule are in the instructions - There's no beginning WIP or Direct Materials
Cost of Services Schedule Tab: - All the numbers needed for this schedule are in the instructions - There's no beginning WIP or Direct Materials Inventory - There's no ending WIP Inventory
MILESTONE 3 - Statement of Cost of Services INSTRUCTIONS: The following are the actual numbers for January: Materials Purchased $5,000 of Materials Consumed 40% of those purchased materials Direct Labor Direct Labor was $6,240 Overhead Overhead was $2,800 Jazzy Dreams Dog Care Statement of Cost of Services For the Month Ended January 31, XXXX Beginning Work in Process Inventory Direct Materials: Materials - Beginning Add: Purchases for month of January Materials Available for Use Deduct: Ending Materials Materials Used 5,000 3,000 2,000 Jazzy Dreams Dog Care Statement of Cost of Services For the Month Ended January 31, xxxx Beginning Work in Process Inventory Direct Materials: Materials - Beginning Add: Purchases for month of January Materials Available for Use Deduct: Ending Materials Materials Used 5,000 3,000 2,000 Direct Labor Overhead 6,240 2,800 Total Service Costs Deduct: Ending Work in Process Inventory Cost of Services * Cost of Goods Sold - Cost of Services There is no finished goods inventory to maintain. MILESTONE 3 - Statement of Cost of Services INSTRUCTIONS: The following are the actual numbers for January: Materials Purchased $5,000 of Materials Consumed 40% of those purchased materials Direct Labor Direct Labor was $6,240 Overhead Overhead was $2,800Step 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