Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

How to find the numbers for work in process Sheridan Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,

How to find the numbers for work in process
image text in transcribed
image text in transcribed
image text in transcribed
Sheridan Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass and lumber, depending on customer preference on June 1, 2022, the general lediger for Sheridan inc.contains the following data. $4400 $33.100 Raw Materials twentory Work in process inventory Manufacturing Overhead Applied Manufacturing Overhead Incurred $5.750 $32.200 Subsidiary data for Work in Process inventory on June 1 are as follows: Job Cost Sheets Customer Job Rodgers Cost Element Stevens Linton 5700 S 900 S2000 Direct materials 300 500 Direct labor 600 375 625 750 Manufacturing overhead $1373 52.025 52350 consisted of depreciation on equipment $800 and miscellaneous costs of $ 500 incurred on account A summary of materials requisition slips and time tickets for June shows the following Customer Job Materials Requisition Slips Time Tickets Rodgers $ 800 $800 Koss 1.900 800 Stevens 600 300 Linton 1.200 1000 Rodgers 400 300 4,900 3.200 1600 1.300 General use $ 6.500 $4,500 Overhead was assigned to jobs at the same rate of $ 1.25 per dollar of direct labor cost throughout the year. The patios for customers Porters Stevens and Linton were completed during June and sold for a total of $18.800 Each customer said in full at the time of or Work in Process Inventory 6/1 Balance June Completed Work Direct Materials Duet Labor Overhead Applied 6/30 Balance e Textbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav

13th Edition

8120335643, 136126634, 978-0136126638

Students also viewed these Accounting questions