Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have attached my charts, i need the questions listed answered, Thank you. What is the contribution margin for Job #1 (assume that all selling

I have attached my charts, i need the questions listed answered, Thank you.
What is the contribution margin for Job #1 (assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)?
What would be the actual (not applied ) total fixed manufacturing overhead cost incurred for the company for the month if the order in Job #1 is for five tables instead of one table assuming this cost is with in the relevant range?
image text in transcribed
image text in transcribed
General Journal Date Description 1-Dec Raw Materials Accounts Payable S-Dec, Work in Process 1 Dobit $ 18,000 Credit $ 18,000 $ $ 4,380 $ 4,380 10-Dec Work in Process #1 Manufacturing Overhead Salaries and Wages expense Salaries and Wages payable 15-Dec Work in Process #2 $ $ $ 120 4,500 2,000 $ $ 6,620 $ $ 4,380 $ 4,380 1,400 $ $ $ 1,400 $ 1,600 $ 1,600 $ $ 150 600 $ 750 $ 3,000 $ 3,000 $ un 7,120 16-Dec Manufacturing Overhead Accounts Payable 17-Dec Advertising Expnse Accounts Payable 20-Dec Manufacturing Overhead Depreciation expense Accumulated depreciation equipment 22-Dec Work in Process #1 Manufacturing Overhead 26-Dec Finished Goods Work in Process #1 28-Dec Accounts Receivable COGS Sales Finished Goods 31-Dec Work in Process #2 Salaries and wages payable 31-Dec Work in Process #2 + Manufacturing Overhead 31-Dec COGS Manufacturing Overhead us 7,120 $ 23,000 $ 7,120 $ 23,000 $ 7,120 $ 60 $ 60 $ 1,500 $ 1,500 Account Receivables 2-es 23.000 Accounts Payable 18,000 1,400 1.600 Sales Revenue IS 23.000 1-Dec 16-Oes 17-0$ 23-Dec Ball $ 21,000 $ 22,000 S 23.000 2 Dec 1-Dec Raw Materiale 12,000 4.000 5 4.280 soe 15-Dec Seluries and Wages Payable S 120 S 4 500 5 2000 $ GO 10 Dec 10 Dec 10 Dec 31-Dec Coat of Goods Sold 26 Dec 7,120 31 Dec $ 1550 5 5 6.680 Bal Work in Process 4.000 120 40 3,000 60 S-Oes 10 Dec 15-becs 22-es 31-05 31-Oecs Salaries and Wages Expense 10 Dec 2.000 1,500 al 5 51940 $ 2,000 Finished Geode 7.120 7,120 26 Dec 26 Dec Advertising Expanse 1.000 16-Dec Manufduring Overhead 10 Dec 4500 1,000 16-Oecs 1.4001 1.500 20 Dec 150 15.50 Depredation Lespente 2005 300 $ al 22 210c 11 Dec 600 Acumulated Dopredation 5 150 5 600 20 Dec 20 Dec 790

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_2

Step: 3

blur-text-image_3

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

Costing

Authors: Terry Lucey

6th Edition

0826455107, 9780826455109

More Books

Students also viewed these Accounting questions

Question

Describe the linkages between HRM and strategy formulation. page 80

Answered: 1 week ago