Question
Please show me how to do it and don't give direct answers(indirect answers are fine as long as it shows how the work was done)
Please show me how to do it and don't give direct answers(indirect answers are fine as long as it shows how the work was done) thank you.
Part 1:Information to use in completing is below and the requirements follow where you will answer the questions.
Grass Mower Company manufacturers a variety of gasoline-powered mowers for discount hardware and department stores.
The company uses a job cost system and treats each customer's order as a separate job.
The primary mower components (motors, chassis, and wheels) are purchased from three different suppliers under long-term
contracts that call for the direct delivery of raw materials to the production floor as needed.When a customer's order is
received, a raw materials purchase order is electronically placed with suppliers.The purchase order specifies the scheduled
date that production is to begin as the delivery date for motors and chassis, the scheduled date production is to be completed
is specified as the delivery date fro the wheels.As a consequence, there are no raw materials inventories; raw materials are charged directly
to Work-in-process upon receipt.Upon completion goods are shipped directly to customers rather than transferred to finished goods inventory.
At the beginning of September the company had the following work-in-process inventories:
Job 1$21,000
Job 215,400
Job 316,000
Job 48,500
Total$60,900
During September, the following activities took place:
1.Started jobs 5,6, and 7.
2.Ordered and received the following raw materials for specified jobs:
MotorsChassisWheels Total
Job 200$800 $800
Job 3001,2001,200
Job 4001,6001,600
Job 512,0004,0001,00017,000
Job 69,0003,50090013,400
Job 78,5003,800012,300
Total $46,300
3. Incurred September manufacturing payroll:
Direct Labor
Job 1$500
Job 23,200
Job 33,400
Job 44,160
Job 51,300
Job 62,620
Job 72,000
Total Direct Labor17,180
Indirect Labor3,436
4.Incurred additional manufacturing overhead costs for September:
Manufacturing supplies purchased and used$2,800
Depreciation on factory fixed assets6,000
Factory utilities5,100
5.Applied manufacturing overhead using a predetermined rate based on predicted annual overhead
and predicted annual direct labor cost as follows:
Predicted Annual Overhead$190,000
Predicted Annual Direct Labor cost$200,000
6.Completed and shipped jobs 1 and 6.Charged customersthe following:$30,000 for Job 1 and $25,000 for Job 6.
Job 130,000
Job 625,000
Total55,000
7.Selling and Administrative costs incurred in September are the following:$5,000
Required:You need to use cell references to provide answers and calculations.
1.Develop the predetermined overhead rate.
2.Complete the job cost sheets provided below:
Job 1Job 2Job 3Job 4Job 5Job 6Job 7
Beginning Balance
Current costs:
Direct materials
Direct Labor
Applied overhead
Total
3.Determine the ending Work-In-Process Inventory at the end of September and provide the number of the Jobs still in Work-in-Process at the end of September.
4.Determine the Cost of Goods Sold for September and provide the number of the Jobs in Cost of Goods Sold for September.
5. a statement of cost of goods manufactured for September below.
Grass Mower Company
Statement of Cost of Goods Manufactured
For Month ending September 30, 2017
6. an Income Statement for September on the worksheet titled IS.
Grass Mower Company
Income Statement
For Month ending September 30, 2017
7.Determine the underapplied or overapplied manufacturing for September.
8. a pie chart below showing the jobs that are in work-in-process at the end of September.
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