Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Current Attempt in Progress Job cost sheets for Sunland Manufacturing are as follows: Job No 210 Date Direct Materials Direct Labor July 1 10,440 9,280

Current Attempt in Progress Job cost sheets for Sunland Manufacturing are as follows: Job No 210 Date Direct Materials Direct Labor July 1 10,440 9,280 9,860 10 11,600 15 6,380 25 23,200 Quantity 1,500 Manufacturing Overhead 13,920 Job No 211 Quantity 1,200 Manufacturing Date Direct Materials Direct Labor Overhead July 1 5,800 6,960 10,440 10 10,440 15 9,280 20 8,120 27 13,920 What was the balance in Work in Process Inventory on July 1 if these were the only unfinished jobs? Balance in Work in Process Inventory $ 56840 What was the predetermined overhead rate in June if overhead was applied on the basis of direct labor cost? Predetermined overhead rate 150 % If July is the start of a new fiscal year and the overhead rate is 20% higher than in the preceding year, how much overhead should be applied to Job 210 in July? Overhead applied in July $ Assuming Job 210 is complete, what is the total and unit cost of the job? (Round unit cost answer to 2 decimal places, e.g. 52.75.) Total cost $ Unit cost $ Assuming Job 211 is the only unfinished job at July 31, what is the balance in Work in Process Inventory on this date? Balance in Work in Process Inventory $ Journalize the summary entries to record the assignment of costs to the jobs in July. (Note: Make one entry in total for each manufacturing cost element.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit (To assign materials to jobs) (To assign labor to jobs) (To assign overhead to jobs)

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

Financing China S Belt And Road Initiative

Authors: XIAO Gang

1st Edition

1032027479, 978-1032027470

More Books

Students also viewed these Accounting questions

Question

8. Praise the trainees for their success in learning the task.

Answered: 1 week ago