Mincle Corp. uses job-order costing. The following information was collected at the end of the month: Job
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Question:
Mincle Corp. uses job-order costing. The following information was collected at the end of the month:
Job # | Total Cost | Completed? | Sold? |
1 | $300 | Yes | No |
2 | 400 | Yes | Yes |
3 | 200 | No | No |
4 | 200 | Yes | Yes |
5 | 700 | No | No |
6 | 600 | Yes | No |
7 | 600 | Yes | Yes |
8 | 500 | No | No |
- Calculate the balance for ending WIP.
- Calculate the balance for ending FG.
- Calculate COGS for the month.
- Jacks 10-Key Calculator Co. had a beginning balance on Job #2006 of $100 for DM, $100 for DL, and $25 for MOH. During the period, an additional $600 of DM and $900 of DL were used. Overhead is applied at the rate of 75 cents per DL dollar. Jack uses job-order costing. What is the total cost of Job #2006?
Related Book For
Financial accounting
ISBN: 978-1118285909
IFRS Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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