Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Helpful when it's in excel and laid out On September 1, two jobs were in process at Petes Patios. Details of the jobs follow: Check

Helpful when it's in excel and laid out

On September 1, two jobs were in process at Petes Patios. Details of the jobs follow:

image text in transcribed

Check my work 7 On September 1, two jobs were in process at Pete's Patios. Details of the jobs follow: 10 points Job Number PP-24 PP-30 Direct Materials $1,120 645 Direct Labor $ 432 1,620 eBook Materials Inventory on September 1 totaled $5,430, and $678 worth of materials was purchased during the month. Indirect materials of $99 were withdrawn from materials inventory. On September 1, finished goods inventory consisted of two jobs, PP-12, costing $2,324, and PP-14, with a cost of $908. Costs for both jobs were transferred to Cost of Services Billed during the month. Print Also during September, Jobs PP-24 and PP-30 were completed. Completing Job PP-24 required an additional $1,340 in direct labor. The completion costs for Job PP-30 included $672 in direct materials and $4,100 in direct labor. G References Pete's Patios used a total of $1,832 of direct materials (excluding the $99 indirect materials) during the period, and total direct labor costs during the month amounted to $8,070. Overhead has been estimated at 50 percent of direct labor costs, and this relation has been the same for the past few years. Required: Compute the costs to Jobs PP-24 and PP-30 and the balances in the September 30 inventory accounts. $ Cost to complete PP-24 Cost to complete PP-30 Balance of Materials Inventory as of September 30 Balance of Work-in-Process as of September 30 Balance of Finished Goods Inventory as of September 30 $ $ 2,010 6,822 4.177

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

Handbook Of Communication Audits For Organisations

Authors: Owen D.W. Hargie, Dennis Tourish

1st Edition

0415186420, 978-0415186421

More Books

Students also viewed these Accounting questions

Question

Explain how a refl ective response facilitates listening.

Answered: 1 week ago

Question

f. Did they change their names? For what reasons?

Answered: 1 week ago