Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need reply asap! Triple C Ltd. is in the business of manufacturing cabinets, computer stands, and countertops. Most of its jobs are contracts for home

Need reply asap!
image text in transcribed
image text in transcribed
Triple C Ltd. is in the business of manufacturing cabinets, computer stands, and countertops. Most of its jobs are contracts for home builders. The following information is available for the month of July: Added in July Job Number 101 103 Costs incurred to July 1 Direct Direct Materials Labour $9,000 $2,000 2,500 1,500 600 100 Direct Materials $0 ? 500 800 Direct Labour $1,000 ? 3,000 200 Status at July 31 Completed but not sold Not completed Completed but not sold Not completed 111 115 Activity in accounts: Opening Account Direct Materials Direct Labour Balance July 1 $3,000 Purchased in July $6,000 Issued/Used in July $4,900 h 8,000 Ending Balance July 31 $? On July 1, finished goods inventory consisted of one job, 105, with a total cost of $18,000. This job was sold during July. (Note: Manufacturing overhead is applied at 120% of the direct labour cost.) (a) Calculate the costs of completed jobs 101 and 111 as at July 31. Job 101 Job 111 Completed job costs $ Save for Later Attempts: 0 of 3 used Submit Answer Using multiple attempts will impact your score. 10% score reduction after attempt 2

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

Step: 3

blur-text-image

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

Auditing Business Continuity Global Best Practices

Authors: Rolf Von Roessing

1st Edition

1931332150, 978-1931332156

More Books

Students also viewed these Accounting questions

Question

1-4 How will MIS help my career?

Answered: 1 week ago