Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Create Job cost sheet for Job 57 using the attached information. Solve for Beginning Balance Current costs: Direct Materials Direct Labor Applied Overhead Total Glass

Create Job cost sheet for Job 57 using the attached information.

Solve for

Beginning Balance

Current costs:

Direct Materials

Direct Labor

Applied Overhead

Total

image text in transcribed
Glass Company makes glass orders based on the customer Specifications , 50 the company uses job costing to track costs . 1 . The company uses direct labor hours as the cost driver for manufacturing overhead application . The company estimated the following manufacturing overhead costs for the year ." $504, 500 The company estimated the following usage of direct- labor hours for the year . 205, 000 2. Eleginning Work_ in_ process , March 1 \\ Job 5 7 1 $100, 000 3. Beginning Finished Goods , March 1 1/ Job 5.51 5120, 000 2. Labor Information for March ; Direct - labor hours :" Job 5 7 Job 50 Job 54 4. 000 Labor costs :" Direct- labor wages $420, 000 Indirect- labor wages 525, 000 Supervisory salaries $12, 000 3. Material Information for March : Raw Materials , Inventory , March 1 $21, 000 Purchase of raw material $210, 000 Direct materials requisitioned :" Job 5 7 Job 58 $75, 000 Job 59 $51, 000 4 . Other costs incurred in March ." Factory Utilities Sales offices Utilities 53, 000 Administrative offices Utilities 52, 00 0 Factory equipment repair and maintenance costs 52, 2010 Depreciation on factory equipment $1, 000 Manufacturing Supplies Purchased and used 54, 000 5. During March the following jobs were completed and sold for the followving sales price :" Job 5 7 $400, 0 00 Job 50 $250, 000

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

Understanding Financial Accounting

Authors: Christopher D. Burnley

2nd Canadian Edition

1119406927, 978-1119406921

More Books

Students also viewed these Accounting questions