Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Part A part b Calculate the balance of the Work in Process Inventory account Cullumber Manufacturing uses a job order cost accounting system. On April
Part A
part b
Calculate the balance of the Work in Process Inventory account
Cullumber Manufacturing uses a job order cost accounting system. On April 1. the company has Work in Process inventory of $6.330 and two jobs in procese Job No. 221.51.020 and Sob No 222.53.360. During April a summary of source documents reports the following For Job No. 221 Materials Requisition Slips Labor Time Tickets $ 1.000 $1760 1420 1.840 222 223 2020 2.4.60 224 2.180 2360 General use 500 340 Total $7.120 $8.740 Cullumber applies manufacturing overhead to jobs at an overhead rate of 70% of direct labor cost Job No 221 is completed during the month (a) Using the prid below, enter the beginning Work in Process inventory balancs, prepare summary entries to record the materials regulitioned, actory labor ned the salment of manufacturing overhead to job wd the completion of Job No 221. Enternetve amounts using either angespreceding the number -15 or parents (451) Raw Materials inventory Manufacturing Costs Factory Labor Manufacturin Overhead Bebe $ Dealer Indirect maten Director decor 30 atv E 4 MacBAIT O 223 2020 2.440 224 2.180 2360 Generaluse 500 340 Totals $7.120 $8.740 Cullumber applies manufacturing overhead tos at an overhead 70% of direct labor cost Job No. 221 is completed during the month (a) Using the grid below. enter the beginning Work in Process inventory balance prepare summary entries to record the raw materials regid.tactory labor used the assignment of acturing overhead to jobs and the completion of Job Ne 221 Enternetve amounts using the preceding the number or portheless 450 acturing Costs Work in Process inventory ary Labor Finished Goods Inventory Manufacturing Overhead 5 Anmol bi 30 dtv A 80 F3Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started