Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Huntley Manufacturing makes carrying cases for portable electronic devices. Is costing records yold the following information (Click the icon to view the costing records) Read

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Huntley Manufacturing makes carrying cases for portable electronic devices. Is costing records yold the following information (Click the icon to view the costing records) Read the requirements Requirement 1. Which type of costing system is Huntley using? What piece of data did you be your answer! Huntley uses system. We know this because Huntley's costing records how costs being accumulated for each Requirement 2. Use the dates in the table to identify the status of each job at September 30 and October 31. Compute Huntley's account balances at September 30 for Work in Process inventory Fished Goods Inventory and cost of God Sold. Compute, by job, account balances at October 31 for Work in Process Inventory. Fished Goods Inventory, and Cost of Goods Sold (a box is not used in the schedule, leave the box oy, do not let wel or enterars) Prepare the September schedule first, followed by the October schedule Huntley Manufacturing Computation of Work in Process Inventory Finished Goods Inventory and cost of Goods Sold For September and October Data Wonin Process inventory Finished Goods inventory Coat of Goods Sold Job Cost Job Coal Job Cout September 30 Total October 31 Choose from any it or enter any number in the input fields and then continue to the next gestion Hequirement 3. Prepare journal entries to record the transfer of completed from WordPress entry to Finished Goods Story for ember and October Records first, the credits clientions from your Record September's entry first Date Accounts Debit Credit Sep 30 Now record Oberst Date Acco Debat Credit Oct 31 Requirement. Record the sale of 3 for $2.500 on account. Recorders to creations from any ouma First recorder related to the sale of 3 on account Choose from any list or enter any number in the input fields and then continue to the next Huntley Manufacturing makes carrying cases for portable electronic devices. Its costing records yield the following information: (Click the icon to view the costing records) Read the requirements Requirement 4. Record the sale of Job 3 for $2,300 on account. (Record debits first, then credits. Exclude explanations from any journal entries.) First, record the revenue related to the sale of job 3 on account. Date Accounts Debit Credit Now record the cost of goods sold for Job 3. Date Accounts Debit Credit Requirement 5. What is the gross profit for Job 37 Compute gross profit for Job 3. Choose from any list or enter any number in the input fields and then continue to the next question Huntley Manufacturing makes carrying cases for portable electronic devices. Its costing records yield the following information: (Click the icon to view the costing records.) Read the requirements Date Accounts Data Table Now record the cost of goods sold for Job 3. Job Date Date Accounts No. Started Sold Total Total Manufacturing Cost of Job Costs Added at September 30 in October 1,600 1,500 800 $ 1,300 1,100 1,000 1 Finished 9/12 9/30 9/03 S 9/13 10/01 2 9/03 9/17 3 10/24 10/29 10/27 11/03 4 9/29 5 10/08 10/14 850 Requirement 5. What is the gross profit for Job 3? Compute gross profit for Job 3. 10/12 11/06 6 10/23 11/09 300 Print Done Gross profit Choose from any list or enter any number in the input fields and then continue to the next

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

Auditing An International Approach

Authors: Bahram Soltani

1st Edition

9780273657736

More Books

Students also viewed these Accounting questions

Question

What does u v = u w imply if u = 0? If u 0?

Answered: 1 week ago

Question

Discuss global compensation practices.

Answered: 1 week ago

Question

Summarize global staffing practices.

Answered: 1 week ago

Question

Discuss the evolution of global business.

Answered: 1 week ago