Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please answer in text (without image) it is easy to copy sweeten Company had no jobs in progress at the beginning of March and no
please answer in text (without image) it is easy to copy
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 13,200 1.20 3300 $ Job P Job Q Direct materials Direct labour Actual direct labour-hours worked $ $ $ 17,000 Job P 17,500 43,200 2,400 Job Q 9300 11700 650 Requirement 8. Assume the ending raw materials inventory is $2,300 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 O wherever it is required.) 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.) 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.) 11. Prepare a schedule of cost of goods sold. (Do not leave any empty spaces; input a 0 wherever it is required.)Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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