Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help me! Problem 14-02A a-d For the year ended December 31, 2017, the job cost sheets of Vaughn Company contained the following data Direct
Please help me!
Problem 14-02A a-d For the year ended December 31, 2017, the job cost sheets of Vaughn Company contained the following data Direct MaterialsLabor Direct Manufacturing Job Number Total Costs Overhead Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs $30,750 $29,520 36,900 44,280 13,530 22,140 52,890 59,040 71,340 67,650 $35,424 $95,694 53,136 134,316 26,568 62,238 70,848 182,778 81,180 220,170 7640 7641 7642 Other data 1. Raw materials inventory totaled $18,450 on January 1. During the year, $172,200 of raw materials were purchased on account. Factory labor incurred was $193,110 2. Finished goods on January 1 consisted of Job No. 7638 for $107,010 and Job No. 7639 for $113,160 3. Job No. 7640 and Job No. 7641 were completed during the year 4. Job Nos. 7638, 7639, and 7641 were sold 5. Manufacturing overhead incurred on account totaled $147,600 6. Other manufacturing overhead consisted of indirect materials $17,220, indirect labor $22,140, and depreciation on factory machinery $9,840Step 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