Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=5ac1a264-3aa3-4dca-bfe9-966cf25563fc#.. AN C Lab 2 Ch 3 Summer 2023 - 12 Question 2 of 8 A job cost sheet for Sunland Company is shown below.

image text in transcribedimage text in transcribed
https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=5ac1a264-3aa3-4dca-bfe9-966cf25563fc#.. AN C Lab 2 Ch 3 Summer 2023 - 12 Question 2 of 8 A job cost sheet for Sunland Company is shown below. Job No. 92 For 2,000 Units Direct Direct Manufacturing Materials Labour Overhead Date Beginning Balance January 1 $4,024 $5,720 $3,432 8 6,500 12 8,840 7,072 25 2,160 27 4,140 3,312 12,684 18,700 13,816 Cost of completed job: Direct materials $12,684 Direct labour 18,700 Manufacturing overhead 13,816 Total cost $45,200 Unit cost ($45,200 - 2,000) $22.60 (a Type here to search 22.C ESC DI F3 F4 F5 F6 F7 PrtSon Home End Pqu F9 F10 a & 5 8 O W E R U O A D G H K//education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=5ac1a264-3aa3-4dca-brey-9 ummer 2023 Question 2 of 8 (a) On the basis of these data, answer the following questions: 1. What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job? The balance in Work in Process Inventory $ 2. If manufacturing overhead is applied on the basis of direct labour cost, what overhead rate was used in each year? Last year This year % % Overhead rate eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer (b Type here to search 22.C F2 DI F3 AX F4 F5 F6 F7 PrtSen Home End F10 PgUP PgDn F11 N 5 O W R U O P IS D G H K

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

Introduction To Financial Accounting

Authors: Anne Marie Ward, Andrew Thomas

9th Edition

1526803003, 978-1526803009

More Books

Students also viewed these Accounting questions

Question

Round to indicated place value 54, 024.24935 thousandths

Answered: 1 week ago