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Need help on just question B and C pls! Part B Part C Job For the year ended December 31, 2020, the job cost sheets
Need help on just question B and C pls!
Job For the year ended December 31, 2020, the job cost sheets of Devoe Company contained the following data: Direct Direct Manufacturing Total Number Explanation Materials Labour Overhead Costs 7640 Balance 1/1 $25,200 $24.900 $29,800 $79,900 Current year's costs 30,100 35,900 43,500 109,500 7641 Balance 1/1 11,400 18.900 22,100 52,400 Current year's costs 43,400 48,400 57,900 149,700 7642 Current year's costs 48,300 55,100 66,800 170,200 Other data: 1. Raw materials inventory totalled $15,400 on January 1. During the year. $140,800 of raw materials were purchased on account 2 Finished goods on January 1 consisted of Job No. 7638 for $87,300 and Job No.7639 for $92,100. 3. Job No. 7640 and Job No. 7641 were completed during the year. 4. Jobs 7638, 7639, and 7641 were sold on account for $530,100. 5. Manufacturing overhead incurred on account totalled $114,600. 6. Other manufacturing overhead consisted of indirect materials $13,900, indirect labour $19,500, and depreciation on factory machinery $7,800. Prove the agreement of Work in Process Inventory with job cost sheets pertaining to unfinished work. Calculate each of the following then post each to the T account: (1) beginning balance, (2) direct materials. (3) direct labour, (4) manufacturing overhead, and (5) completed jobs. (Post entries in the order displayed in the problem statement.) 132,300 1 beginning balance 2 direct materials 121,800 3. direct labour 139.400 168200 391500 4. manufacturing overhead 5. completed jobs closing balance 170200 Work in Process Inventory 132300 Completed jobs 391500 1/1 Balance Direct materials 121800 Direct labour 139400 Manufacturing overhead 168200 12/31 Balance 170200 (b) Prepare the adjusting entry for manufacturing overhead, assuming the balance is allocated entirely to Cost of Goods Sold. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually.) Credit Debit Account Titles and Explanation Determine the cross profit to be reported for 2020, Gross profit $ Part B
Part C
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