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Please show work if possible. Crane Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's
Please show work if possible.
Crane Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $193,000, and factory wages incurred $87,800. 2. Materials requisitioned and factory labor used by job: Job Number A20 A21 A22 Materials Factory Labor $36,240 $18,100 43,920 22,100 36,200 15,100 40,270 25,100 4,570 7,400 $161,200 $87,800 A23 General factory use 3. Manufacturing overhead costs incurred on account $49,600. 4. Depreciation on factory equipment $15,550. 5. Manufacturing overhead rate is 80% of direct labor cost. 6. Jobs completed during the quarter: A20, A21, and A23. Record the operations summarized above. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Manufacturing Costs Work in Process Inventory Finished Goods Cost of Goods Inventory Sold Raw Materials Inventory Factory Labor Manufacturing Overhead 1. Purchased raw materials $ $ $ 1. Incurred factory labor 2. Direct materials 2. Indirect materials 2. Direct labor 2. Indirect labor 3. Incurred overhead costs 4. Factory depreciation 5. Assigned overhead 6. Completed jobs Prepare a schedule showing the individual cost elements and total cost for each job in item 6. Prepare a schedule showing the individual cost elements and total cost for each job in item 6. Job Direct Materials Direct Labor Manufacturing Overhead Total A20 $ $ $ A21 A23 $
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