Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer all parts. The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March

Please answer all parts. image text in transcribed
image text in transcribed
image text in transcribed
The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labour-hours. The following tion is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead $ Estimated variable manufacturing overhead per direct labour-hour $ Estimated total direct labour-hours to be worked Total actual manufacturing overhead costs incurred $ 1.800 160 3.700 21. 000 Direct materials Direct labour Actual direct labour-hours worked $ $ Job P 21500 44.800 $ $ Job 9.700 12.000 2.800 8. Award: 14.00 points 8. Assume the ending raw materials inventory is $2,700 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured. (Do not leave any empty spaces; input a 0 wherever it is required.) Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labour-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead SO Estimated variable manufacturing overhead per direct labour-hour $ 160 Estimated total direct labour-hours to be worked Total actual manufacturing overhead costs incurred Dwert Decou Actul director hours worked $ $ Job P 21500 4800 2.800 obo $ 900 $ 12.000 9. Award 4.00 points 9. Prepare the journal entry to transfer costs from Work in Process to Finished Goods. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Veran Journal entry worksheet Record entry to transfer costs from Work in Process to Finished Goods General Journal [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labour-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead $ Estimated variable manufacturing overhead per direct labour-hour $ Estimated total direct labour-hours to be worked Total actual manufacturing overhead costs incurred $ 14,800 160 3.700 21000 Direct materials Direct labour Actual direct labour hours worked $ $ Jobp 21500 44.800 2.800 $ $ Job 9.700 12.000 750 10. Award: 9.00 points 10. Prepare a completed Work in Process T-account including the beginning and ending balances and all debits and credits posted to the account. (Do not leave any empty spaces; input a 0 wherever it is required.) Work in Process Beg. bal. End, bal

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

Auditing Theory And Practice

Authors: C. William Thomas

1st Edition

0534013880, 978-0534013882

More Books

Students also viewed these Accounting questions