Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Our company began operations on August 1. We use normal costing. During August, we only worked on 3 jobs, Job A, Job B and Job

image text in transcribed

Our company began operations on August 1. We use normal costing. During August, we only worked on 3 jobs, Job A, Job B and Job C. The costs that were charged to these three jobs during January are as follows: Job 1 Job 2 Job 3 S 50 Direct Materials Direct Labor Applied Overhead $ 200 800 2200 300 $ 800 1600 4400 825 Job A and Job C were finished in August, but Job B was not finished. Job A consisted of 1,600 units and Job C consisted of 1,700 units. During August, the company sold 800 units of Job A at a selling price of $9 each. Also, during August, the company sold 100 units from Job C at a selling price of $15 each. YOU MUST SHOW YOUR WORK TO RECEIVE ANY CREDIT. 1. Compute the Cost of Goods Manufactured for August. 2. Compute the ending Work in Process for August. 3. Compute the total Sales for August. 4. Compute the ending Finished Goods for August. 5. Compute the cost of Goods Sold for August

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

Computer Aided Fraud Prevention And Detection A Step By Step Guide

Authors: David Coderre

1st Edition

0470392436, 978-0470392430

More Books

Students also viewed these Accounting questions

Question

Show that standard Brownian motion is a Martingale.

Answered: 1 week ago

Question

5. If yes, then why?

Answered: 1 week ago

Question

6. How would you design your ideal position?

Answered: 1 week ago