Madsen Campany employ,job-order costing system ont, three jobs worked on daring May and June 2009 Job 208 was completed os June 20: the other two jobs were ecompleted on Jese 30. Job cost sheets of the three jobs are given below- 2. job 208, job 209, and job 210-were Job Cost Sheet 11,2003,000 6000200 4,000 7,500 8,500 Direct labor The following additional infoemation is available: Manufacturing overhead is assigned D)obs on a basis of direct labor coat s Balances in the inventory accounts at May 31ere Raw materials$ 30,000 Finished goods 50,000 . Prepare T-sccounts for Raw Material's, Work in Process, Finished Goods and Manufacturing Overhead. Enter the May 31 balances given above; is the case of Work in Process, compute the Mxy 31 balanoe and enter it into the Work in Process T-accout 2 Prepare journal entries Sor June as follows a) Prepure an entry to record the issue of materials into production, and post the entry to appropriate T accounts. Indirect materials used during June totaled 53.800 b) Prepare as entry to record the incurrence of labor cost, and post the entry to appropriate T-accounts Indirect labor cost totaled $7,000 for June an entry to record the incurrence of $19,400 in various actual manufacturing overbead costs for 3. What appuront predetermined overhead rate does the company Ras sa estes sens Using this rase prepare a journal entry to racoed the application of overtiead cost to jobs for June. Post this entry to 4. As stated earlier, job 208 was completed during June, Prepare a journal entry to show the transfer of this job June. (Crodit Accounts Payable.) appropriate T-accounts off of the production line and into the finished goods warehouse. Post the entry to appropriate T-accounts consists of costs traceable to 5. Deteraine the balance at June 30 in the Work in Process inventory account. How much of this balance 0haen 21 Madsen Campany employ,job-order costing system ont, three jobs worked on daring May and June 2009 Job 208 was completed os June 20: the other two jobs were ecompleted on Jese 30. Job cost sheets of the three jobs are given below- 2. job 208, job 209, and job 210-were Job Cost Sheet 11,2003,000 6000200 4,000 7,500 8,500 Direct labor The following additional infoemation is available: Manufacturing overhead is assigned D)obs on a basis of direct labor coat s Balances in the inventory accounts at May 31ere Raw materials$ 30,000 Finished goods 50,000 . Prepare T-sccounts for Raw Material's, Work in Process, Finished Goods and Manufacturing Overhead. Enter the May 31 balances given above; is the case of Work in Process, compute the Mxy 31 balanoe and enter it into the Work in Process T-accout 2 Prepare journal entries Sor June as follows a) Prepure an entry to record the issue of materials into production, and post the entry to appropriate T accounts. Indirect materials used during June totaled 53.800 b) Prepare as entry to record the incurrence of labor cost, and post the entry to appropriate T-accounts Indirect labor cost totaled $7,000 for June an entry to record the incurrence of $19,400 in various actual manufacturing overbead costs for 3. What appuront predetermined overhead rate does the company Ras sa estes sens Using this rase prepare a journal entry to racoed the application of overtiead cost to jobs for June. Post this entry to 4. As stated earlier, job 208 was completed during June, Prepare a journal entry to show the transfer of this job June. (Crodit Accounts Payable.) appropriate T-accounts off of the production line and into the finished goods warehouse. Post the entry to appropriate T-accounts consists of costs traceable to 5. Deteraine the balance at June 30 in the Work in Process inventory account. How much of this balance 0haen 21
