Managerial Account

Complete Test Number 6 :

Job order costing

Journal entries

COGM and COGS

Trial balances statement

TEST NUMBER 7 8 9 10 UNIT COST SELLING PRICE POR 2,000@5 4,000@5 6,000@5 8,000@5 10,000@5 1,000@25 2,000@25 3,000@25 4,000@25 5,000@25 BEGINNING INVENTORIES-POST TOT ACCOUNTS RAW MATERIALS INK RAW MATERIALS PAPER WORK IN PROCESS INK PAPER FINISHED GOODS INVENTORY VALUATION METHOD 1,000@75 2,000@75 3,000@75 4,000@75 5,000@75 FIFO FIFO LIFO LIFO WA 4 PER HR ASSUMPTIONS DIRECT MATERIALS INK PAPER DIRECT LABOR RATE DIRECT LABOR PRODUCTIVITY ESTIMATED MOH QUANTITY SP MULTIPLE 2010 2010 2010 2010 2010 1@30 1@30 1@30 1030 1030 $40 $40 $40 $40 $40 4 PER HR 5 PER HR 10 PER HR 20 PER HR 2 HRS 100,000 200,000 300,000 400,000 500,000 10,000 10,000 10,000 10,000 10,000 5 4 3 2 1 JOURNAL ENTRIES PURCHASED INK CARTRIDGES PURCHASED PAPER TRANSFERRED INK CARTRIDGES TO WIP TRANSFEREED PAPER TO WIP ACTUAL LABOR HOURS APPLY MOH UTILIZING POR TRANSFER COST OF COMPLETED BOOKS TO FINISHED GOODS RECORD SALE OF BOOKS RECORD ACTUAL MOH PAID IN CASH RECORD OVER OR UNDER APPLIED MOH 20,000 10,000 20,000 10,000 2,500 2,500 9,000 8,000 105,000 20,000 10,000 20,000 10,000 2,000 2,000 8,500 8,000 195,000 20,000 10,000 20,000 10,000 1,000 1,000 8,000 10,000 305,000 20,000 10,000 20,000 10,000 500 500 7,500 10,000 395,000 20,000 10,000 20,000 10,000 20,000 20,000 7,000 10,000 510,000 REQUIRED CALCULATE UC, SP & POR RECORD ALL JOURNAL ENTRIES AND POST TO LEDGER PREPARE COST OF GOODS MANUFACTURED STATEMENT PREPARE COST OF GOODS SOLD STATEMENT TEST NUMBER 7 8 9 10 UNIT COST SELLING PRICE POR 2,000@5 4,000@5 6,000@5 8,000@5 10,000@5 1,000@25 2,000@25 3,000@25 4,000@25 5,000@25 BEGINNING INVENTORIES-POST TOT ACCOUNTS RAW MATERIALS INK RAW MATERIALS PAPER WORK IN PROCESS INK PAPER FINISHED GOODS INVENTORY VALUATION METHOD 1,000@75 2,000@75 3,000@75 4,000@75 5,000@75 FIFO FIFO LIFO LIFO WA 4 PER HR ASSUMPTIONS DIRECT MATERIALS INK PAPER DIRECT LABOR RATE DIRECT LABOR PRODUCTIVITY ESTIMATED MOH QUANTITY SP MULTIPLE 2010 2010 2010 2010 2010 1@30 1@30 1@30 1030 1030 $40 $40 $40 $40 $40 4 PER HR 5 PER HR 10 PER HR 20 PER HR 2 HRS 100,000 200,000 300,000 400,000 500,000 10,000 10,000 10,000 10,000 10,000 5 4 3 2 1 JOURNAL ENTRIES PURCHASED INK CARTRIDGES PURCHASED PAPER TRANSFERRED INK CARTRIDGES TO WIP TRANSFEREED PAPER TO WIP ACTUAL LABOR HOURS APPLY MOH UTILIZING POR TRANSFER COST OF COMPLETED BOOKS TO FINISHED GOODS RECORD SALE OF BOOKS RECORD ACTUAL MOH PAID IN CASH RECORD OVER OR UNDER APPLIED MOH 20,000 10,000 20,000 10,000 2,500 2,500 9,000 8,000 105,000 20,000 10,000 20,000 10,000 2,000 2,000 8,500 8,000 195,000 20,000 10,000 20,000 10,000 1,000 1,000 8,000 10,000 305,000 20,000 10,000 20,000 10,000 500 500 7,500 10,000 395,000 20,000 10,000 20,000 10,000 20,000 20,000 7,000 10,000 510,000 REQUIRED CALCULATE UC, SP & POR RECORD ALL JOURNAL ENTRIES AND POST TO LEDGER PREPARE COST OF GOODS MANUFACTURED STATEMENT PREPARE COST OF GOODS SOLD STATEMENT