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I need help Chapter 19: Job Order Costing System Review Requirements 1 Record the everes in the general journal 2 Open T-Accounts for Work in
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Chapter 19: Job Order Costing System Review Requirements 1 Record the everes in the general journal 2 Open T-Accounts for Work in Process Inventory &Finished Goods inventory, Post the appropriate entries to theve accounts, identifying each entry by letter. Determine the endr account balances, assuming that the beginning balances were sero 3 Add the costs of the unfinished houses, and show that this total amount equais the ending balance in the WIP inwentory account. 4> Add the costs of the completed house that has not yet been sold-and show that this equals the ending balance in FG inventory s> Compute gross profit on the house that was sold Rosdrunner Construction, Inc, is a home builder in Westem Kansas. Roadrunner Construction uses s job order costing systemm in which each house is a job. Because it constructs houses, the company uses accounts titled Construction Wages & Construction Overhead. The foliowing events occurred during Purchased materials on account, $640,000 b. Incurred construction wages of $280,000 c. Requisitioned direct materials and used direct labor in construction as follows: 557,000 $63,000 $66,000 $81,000 Direct Labor $40,000 $35,000 $54,000 559000 House 302 House 803 House 805 d. Depreciation of construction equipmens, 57,200 e. Other overhead costs incurred on houses 802 through Bos Indirect Labor Equipment rentals paid in cash Worker liability insurance expired $77,000 $35,000 $10,000 f. Allocated overhead to jobs at the predetermined rate of 75% of direct labor costs 8 Houses completed: 802, 804 h. House sold: 804 for $290,000 i. Close out construction overheadStep by Step Solution
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