Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need this answer in urgent please Kenworth Company Desa job order costing system. Only three jobs Job 105. Job 106, and Job 107 were worked

need this answer in urgent please
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Kenworth Company Desa job order costing system. Only three jobs Job 105. Job 106, and Job 107 were worked on during November and December Job 105 was completed on December 10, the other two jobs were still in production on December 31, the etid at the company's operating year. Data from the job.cont sheets of the three jobs follow Job ont Sheet 100 105 106 curred inte 517,0 $10.500 5 $14,2005,2005 $22.720 $13,120 5 . 0 0 Behind Director 5 . 5,5 2,700 5.40 $ 9.00 $11.200 Hamutoturismerhed The following additional Information is available: Manufacturing overhead is applied to jobs on the basis of direct labour cost face the inventory accounts at November 30 were as follows Materials in Pre 543,600 591,00 Required: t. Prepare Taccounts for Raw Materials. Work in Process, Finished Goods, and Manufacturing Overhead. Enter the November 30 hemory balances en above in the case of Work in Process, compute the November 30 balance and enter it into the Work in Process T account Work in Process Help Save MY OWN WURFIOCCO NOVO COWOK Proces account Work in Process 41.200 Beg Bai finde End Fine Goods Manufacturing Overhead teg Bal End that 0 End Salam & Wages Payable Accounts Payable Bog Bol fiind 0 End Bal 2. Prepare journal entries for December as follows: T-the- Prey 18 22 Next > 2. Phimpare foumal entries for Ocember as follows are an entry to record the issue of materials into production and post the entry to appropriate T-accounts. In the case of direct is not necessary to make it separate entry for each job.) Indirect materials used during December totalled $4.900. (If no mery is required for a section/event, select "No journal entry required in the test account field.) Wawamacionet Journal entry worksheet A > Record the issue of materials into production and Indirect materials used during December totalled $4.900, General Journal Debit Credit Clear entry View general Journal b. Prepare an entry to record the incurrence of labour cost and post the entry to appropriate Taccounts. In the case of direct labour colitis not necessary to make a separate entry for each job) Indirect labour cost totalled $9.200 for December. Of no entry is required for a transaction event, select "No journal entry required" in the first account field.) Views Journal entry worksheet Record the entry for actual manufacturing overhead costs for December, General Journal Debit Credit Record entry Clear entry View general Journal 3. What apparent predetermined overhead rate does the company use to assign overhead cost to jobs? B. 010 3-b. Prepare a journal entry to record the application of overhead cost to jobs for December it is not necessary to make a separate entry for each fobi Post this entry to the appropriate Taccounts. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Mew traction Journal entry worksheet A Record the entry to record the application of overhead cost to jobs for December store credits Eva General Journal Deblo Credit 1 Record the entry to show the transfer of work in process to finished goods Note tar dents before credits General Journal Debit Credit 1 Record entry Clear entry View general journal Recordanty Clear entry View general Journal 5. Determine the balance at December 31 in the Work In Process inventory account. How much of this balance consists of costs charged to Job 1067 Job 1077 Job 106 Job 107 Total Domaterials Direct labour Manufacturing overhead Total cost $ 0$ 0 $ 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

The Quest For A Science Of AccountingAn Anthology Of The Research Of Robert R. Sterling

Authors: Thomas A. Lee, Peter W. Wolnizer

1st Edition

0367698196, 9780367698195

More Books

Students also viewed these Accounting questions

Question

Whats the problem at WCBA??

Answered: 1 week ago