Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mastery Problem: Job Order Costing Purl of Great Price Company knitting supervisor). All wages are paid in cash at the end of each month. machine

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Mastery Problem: Job Order Costing Purl of Great Price Company knitting supervisor). All wages are paid in cash at the end of each month. machine used to wrap the garments in plastic for shipping, which is operated by the office manager/knitting supervisor approximately 5 hours per week. and cost $4,800, with the same anticipated useful life and salvage value. Nnv. 30 Trial Ralanca Compute the predetermined factory overhead rate for the current year. \begin{tabular}{llcc} \multicolumn{2}{ll}{ Materials Requisition } & & Date: Dec. 10 \\ \hline Req. No. 12255 & Job No. 83 & & \\ \hline Description & Qty. Issued & Unit Price & Amount \\ \hline Yarn type B & 700 skeins & $5 & $3,500 \\ \cline { 4 - 4 } & & Total issued & $3,500 \\ \cline { 4 - 4 } & & & \end{tabular} \begin{tabular}{ccccr} Time Ticket & No. 1255 & Name: & \multicolumn{2}{c}{ Susan Blake } \\ \hline Work Description: & Knitting/piecing & & \\ \hline Dates & Job No. & Hours Worked & Unit Price & Amount \\ \hline 12/0112/15 & 62 & 65 & $15 & $975 \\ 12/1612/31 & 83 & 103 & 15 & 1,545 \\ \cline { 5 - 5 } & & & Total Cost & $2,520 \\ \hline \hline \end{tabular} \begin{tabular}{ccccr} Time Ticket & No. 2274 & Name: & \multicolumn{2}{c}{ Josh Porter } \\ \hline Work Description: & Knitting/piecing & & \\ \hline Dates & Job No. & Hours Worked & Unit Price & Amount \\ \hline 12/0112/15 & 62 & 75 & $15 & $1,125 \\ 12/1612/31 & 83 & 88 & 15 & 1,320 \\ \cline { 5 - 5 } & & & Total Cost & $2,445 \\ \hline \hline \end{tabular} December 16 through December 31 . If there is no amount or an amount is zero, enter "0". If required, round your answers to the nearest cent. Journal in Process. If an amount box does not require an entry, leave it blank. Dec. 10 entry, leave it blank. Dec. 15 require an entry, leave it blank. Dec. 15 entry, leave it blank. Dec. 21 On December 22,75 of the 100 sweaters from Job 62 are sold on account for $125 each. Journalize the following transactions: a. The entry to record the sale. b. The entry to record the transfer of costs from Finished Goods to Cost of Goods Sold. If an amount box does not require an entry, leave it blank. Dec. 22 Dec. 22 December 31 . If an amount box does not require an entry, leave it blank. Dec. 31 December 31 . If an amount box does not require an entry, leave it blank. Dec. 31 On December 31 , prepare the journal entry to dispose of the balance in the factory overhead account. If an amount box does not require an entry, leave it blank. Final Question What are the balances in the following accounts as of December 31 ? If an amount is zero, enter "0". Final Question What are the balances in the following accounts as of December 31 ? If an amount is zero, enter "0

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_2

Step: 3

blur-text-image_3

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

Accounting And Financial System Reform In Eastern Europe And Asia

Authors: Robert W. McGee, Galina G. Preobragenskaya

2nd Edition

0387257098, 9780387257099

More Books

Students also viewed these Accounting questions

Question

2.7 Identify how privacy legislation impacts employees.

Answered: 1 week ago