Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need this broken down to better understand. Anything helps thanks! Prepare Job-order Cost Sheets, Predetermined averheed Rete, Ending Balance of WIP, Finished Goods, and COGS

Need this broken down to better understand. Anything helps thanks!
image text in transcribed

Prepare Job-order Cost Sheets, Predetermined averheed Rete, Ending Balance of WIP, Finished Goods, and COGS At the beginning of June, Rhone Company hed two jabs in process, Job 44 end Job 45, nith the following accumulated cost information Direct materials Direct labor Applied overhead 331arce, June 1 Job 44 $5,100 1,500 1,125 $7,725 During June, two mare jobs (46 ard 47) Job 45 $1,750 3,300 2,475 $7,525 nere stetted. The following direct materials and direct labor costs nere added tc the four jobs during the month of June: Direct materials Direct labor Job 44 S2,200 820 Job 45 $7,080 5,320 Job 46 $1,500 goa Job 47 $1,700 At the end of June, Jabs 44, 45, and 47 were completed. Job 45 sold. an June 1, the belance in Finished Goods was zero. Required: 1. Calculate the plantwide overheed rate based on direct labor cast. The overheed rate based on direct labor cost is s 2. Prepare a brief jab-order cost sheet for the four jobs. Shc'..' the balance as cf June 1 as nell as direct meterials ard direct labor added in June. Apply overhead to the four :obs for the month of June, end show the ending balances. All amount cells must have an entry; enter zeros as needed. Rhone Company Job-order Cost Sheets For the Month of June Line Item Description Job 44 Job 45 Beginning balance, June Direct materials Direct labor Applied overhead Total, June Job 46 Job 47 3. Celculate the ending balances of Work in Process and Finished Goods as of June 30. Work in Process: Finished Goods: 4. Calculate the Cost of Goods Sold for June. Cost cf Goods Sold.

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

Financial Accounting And Reporting

Authors: Mr Barry Elliott, Jamie Elliott

10th Edition

0273703641, 978-0273703648

More Books

Students also viewed these Accounting questions