Question
I need help figuring out my job cost sheet. I'm confused by all the numbers. 7640 Balance 1/1 $25,000 $24,000 $28,800 $77,800 Current year's costs
I need help figuring out my job cost sheet. I'm confused by all the numbers.
7640 Balance 1/1 $25,000 $24,000 $28,800 $77,800
Current year's costs 30,000 36,000 43,200 109,200
7641Balance 1/1 11,000 18,000 21,600 50,600
Current year's costs 43,000 48,000 57,600 148,600
7642Current year's costs 58,000 55,000 66,000 179,000
Other data:
1.Raw materials inventory totaled $15,000on January 1. During the year, $140,000of raw materials were purchased on account.
2.Finished goods on January 1 consisted of Job No. 7638 for $87,000and Job No. 7639 for $92,000.
3.Job No. 7640 and Job No. 7641 were completed during the year.
4.Job Nos. 7638, 7639, and 7641 were sold on account for $530,000.
5.Manufacturing overhead incurred on account totaled $120,000.
6.Other manufacturing overhead consisted of indirect materials $14,000, indirect labor $18,000, and depreciation on factory machinery $8,000
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