Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Current Attempt in Progress For the year ended December 31, 2022, the job cost sheets of Sheridan Company contained the following data. 1. Job Number
Current Attempt in Progress For the year ended December 31, 2022, the job cost sheets of Sheridan Company contained the following data. 1. Job Number 2. Other data: 3. 4. 5. 6. 7. 7640 7641 7642 Explanation Baland 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs Direct Materials $28,500 34,200 12,540 49,020 66,120 Direct Manufacturing Labor Overhead $27,360 41,040 20,520 54,720 62,700 $32,832 49,248 24,624 65,664 75,240 Total Costs $88,692 124,488 57,684 169,404 204,060 Raw materials inventory totaled $17,100 on January 1. During the year, $159,600 of raw materials were purchased on account. Finished goods on January 1 consisted of Job No. 7638 for $99,180 and Job No. 7639 for $104,880. Job No. 7640 and Job No. 7641 were completed during the year. Job Nos. 7638, 7639, and 7641 were sold on account for $604,200. Manufacturing overhead incurred on account totaled $136,800. Incurred depreciation on factory machinery $9,120. Assigned indirect materials of $15,960 and indirect labor of $20,520.
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