Question
Partially completed job sheets for Freeley Co. appear below. These are the only jobs this company has. (SEND YOUR WORK) Job 10 Date Direct Materials
Partially completed job sheets for Freeley Co. appear below. These are the only jobs this company has. (SEND YOUR WORK) Job 10
| Date | Direct Materials | Direct Labor | Manufacturing Overhead | Total |
| 7/1 Beginning Balance | $6,000 | $8,000 | $10,000 | |
| 7/12 | $15,000 | |||
| 7/19 | $20,000 | |||
| 7/26 | $10,000 | |||
| 7/29 | $5,000 | |||
Job 11
| Date | Direct Materials | Direct Labor | Manufacturing Overhead | Total |
| 7/1 Beginning Balance | $3,000 | $6,000 | $7,500 | |
| 7/5 | $8,000 | |||
| 7/15 | $9,000 | |||
| 7/20 | $7,000 | |||
| 7/31 | $14,000 | |||
If these were the only two jobs in process on June 30, 2020, what was the balance in Work In Process Inventory on July 1, 2020? _____________________
what was the predetermined overhead rate?
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Auditing The Art and Science of Assurance Engagements
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones
14th Canadian edition
134613112, 134835018, 9780134885254 , 978-0134613116
