Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Job-Order Coat Sheets Balances and Calculations Instructions Prul Company, a job-order costing firm, worked on three jobs in July. Data e as follows: Job 87

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Job-Order Coat Sheets Balances and Calculations Instructions Prul Company, a job-order costing firm, worked on three jobs in July. Data e as follows: Job 87 Job Balance, July 1 Direct materials 18.250 Jobs $21.330 $10,470 $16.030 $12,220 Dvect labor $0 $16,070 $23,910 1,010 Machine hours $12.200 280 520 Overhead is applied to be at the rate of $17 per machine hourly 31, Jon and were completed Jobs 82 and were sold Job 87 remaned in process. On y 1. the balance in Finished Goods was $4.990 consisting of Job 82 for $25.560 and Job 14 15:23,450) Prur prices to jobs at cost pus 30%. During July variable marketing expenses were of sales and fixed marketing experises were $1.000 dinarative expertes were se (Round al amounts to the nearest dolar) Reguired: 1. Prepare job-order cost sheets for all jobs in process during July, showing all costs through July 31. 2. Calculate the balance in Work in Process on July 31. 3. Calculate the balance in Finished Goods on July 31. 4. Calculate Cost of Goods Sold for July, 5. Calculate operating income for Prull Company for the month of July. eBook Job-Order Cost Sheets Balances and Calculations Instructions Job-Order Cost Sheets Preparator corso in processorng suy showing arcoss og Julmusverwys Prull Company Job-Order Cost Sheets For the Month of July 1 Job 86 Job 87 Job 38 ? Balance July 1 Direct materials Direct labor 1 Applied overhead 2. Calculate the balance in Work in Process on July 31. The balance in Work in Process on July 31 is $ 3. Calculate the balance in Finished Goods on July 31. The balance in Finished Goods on July 31 is $ 4. Calculate Cost of Goods Sold for July. The cost of goods sold for July is $ 5. Calculate operating income for Prull Company for the month of July. The operating income for the month of July is $

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

Financial Accounting A Concepts Based Introduction

Authors: David Kolitz

1st Edition

1138844977, 978-1138844971

More Books

Students also viewed these Accounting questions