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Pleass Help!!! during May: (i) (cick the ioan to vinw the eveces.) Read ite togutementa Slart with the entry from event (a) Purchated materiais os
Pleass Help!!!
during May: (i) (cick the ioan to vinw the eveces.) Read ite togutementa Slart with the entry from event (a) Purchated materiais os account, $440,000 1. Reosed the preceding events in the general joumal. 2. Post the agcropriate entries to the T-aceouns, ibenthing each enty by lefer. Decermine the ending Moodunt balances, assuming that the beginning halasots wote sas 3. Suetmarie the job coses of ew unferished chalet and thow that mix eouls the ending balance in Work, in Procens Invertory: 4. Suminarise the job cost of the completed chalet that has not yet been sold and anow that inis equses the endiog balance in Firishied Cosodis inantory 5. Compite the gross profi on each chilet that was sold. Whut cests nut the gross prott cover far. Sherhom Homes? More info a. Pirchased maleriais on accourt. 5440,000 . b. Incurred total manufacturing wage of 5119,000 , atich nelused beth dine labor and. indirect tabor. Used direct labor in manut acturing as tolows: -. Ceprecason of manul keturing equipmere ubed en diferent enuluk, se reo. Q. Othar owethosd eots incurred on Chakets 1316 : Equipeneent rentats paid in cash. Frepplid plent insuranee expined .... In 5000 9. Chaves compieted. 43 , if, and 1f. h. Chalets sold on nookunt 13 for \$e0.000 and 16 fer 5 wete.009. Start with the ontry from ovent (a). Purchased materials on account $440.000. (b) Incurred total manufacturing wages of $119,000, which included both direct lobor and indirect labor. (c) Requisitioned direct materials in manufacturing. (c) Requisitioned direct materials in manufacturing (d) Depreciation of manufacturing equipment used on different chalets, $6,700. (v) vurier ovemvod costs incurred on Chalets 13-16. (d) Depreciation of manufacturing equipment used on different chalots, $6.700, (e) Other overhead costs incurred on Chalets 13-16. (f) Allocated overnead to jobs at the predetermined rate of 60% of direct labor cost. (9) Chaless completed: 13,15 , and 16 . (h) Chalets sold on aceount: 13 for $90,000 and 16 for $149,000. First record the sale of the chalets. Next, record the cost of goods sold ending account balance with the "Bal" reference on the applicable side of the account. Work in Process Inventory Finished Goods Inventory ending account batance with the "Bal" relerence on the applicable side of the accour. Requirement 3. Summarize the job costs of the uritrahed chatet and show that this pquals the endiry belance n Woik in Procuss inversoy Aod the costs of the unfiniahed chalet, and show that eis total amount equas the ending balanca in the Wosk in Procesa inventory aceost. Requirement 3. Summarize the job costb of the unfinished chalet and show that this equais the ending belance in Work in Process irienliary Add the costs of the unfirished chalet, and show that this total amount equals the ending bolance in the Wark in Pitocess lavmiany account. Sherborn Homes Reconciliation of Work in Process Inventorv fuhnidaizm Requirement 4. Summarize the job cost of the completed chalet that has not yet beend sold and show inat this equals ine ensiny buance ir finised orodi kinentay. Sherborn Hornes. Reconciliation of Finished Goods inventory Subsidiary and Control Accounts Requirement 4. Summarize the job cost of the comploted chalet that has not yet been sold and show that this equals me endirg bialaren in Finuhed Goctis lirention Requirement 5. Compute the gross proft on esch chalet that was sod. What costs mut the gress profit cexor for shereomitanest Begin by detarmining which costs must be induced to compute grons predt for Sherbern Homes. The gross proft muat cavar these types of cests: (Coerglots ail incut follta.) Total cost equals Finished Goods balance Requirement 5. Compute the gross proft on each chaiet that was sold What costs must the grose proft cover for sinesber? H(laitice? Begin by determining which costs must be included to compule aross profit for Sherborn Homes. The gross profit must cover these bypes of costs: (Complete al input felde.) Now eompute the gross profi for each chalet sold during May: (i) (cick the ioan to vinw the eveces.) Read ite togutementa Slart with the entry from event (a) Purchated materiais os account, $440,000 1. Reosed the preceding events in the general joumal. 2. Post the agcropriate entries to the T-aceouns, ibenthing each enty by lefer. Decermine the ending Moodunt balances, assuming that the beginning halasots wote sas 3. Suetmarie the job coses of ew unferished chalet and thow that mix eouls the ending balance in Work, in Procens Invertory: 4. Suminarise the job cost of the completed chalet that has not yet been sold and anow that inis equses the endiog balance in Firishied Cosodis inantory 5. Compite the gross profi on each chilet that was sold. Whut cests nut the gross prott cover far. Sherhom Homes? More info a. Pirchased maleriais on accourt. 5440,000 . b. Incurred total manufacturing wage of 5119,000 , atich nelused beth dine labor and. indirect tabor. Used direct labor in manut acturing as tolows: -. Ceprecason of manul keturing equipmere ubed en diferent enuluk, se reo. Q. Othar owethosd eots incurred on Chakets 1316 : Equipeneent rentats paid in cash. Frepplid plent insuranee expined .... In 5000 9. Chaves compieted. 43 , if, and 1f. h. Chalets sold on nookunt 13 for \$e0.000 and 16 fer 5 wete.009. Start with the ontry from ovent (a). Purchased materials on account $440.000. (b) Incurred total manufacturing wages of $119,000, which included both direct lobor and indirect labor. (c) Requisitioned direct materials in manufacturing. (c) Requisitioned direct materials in manufacturing (d) Depreciation of manufacturing equipment used on different chalets, $6,700. (v) vurier ovemvod costs incurred on Chalets 13-16. (d) Depreciation of manufacturing equipment used on different chalots, $6.700, (e) Other overhead costs incurred on Chalets 13-16. (f) Allocated overnead to jobs at the predetermined rate of 60% of direct labor cost. (9) Chaless completed: 13,15 , and 16 . (h) Chalets sold on aceount: 13 for $90,000 and 16 for $149,000. First record the sale of the chalets. Next, record the cost of goods sold ending account balance with the "Bal" reference on the applicable side of the account. Work in Process Inventory Finished Goods Inventory ending account batance with the "Bal" relerence on the applicable side of the accour. Requirement 3. Summarize the job costs of the uritrahed chatet and show that this pquals the endiry belance n Woik in Procuss inversoy Aod the costs of the unfiniahed chalet, and show that eis total amount equas the ending balanca in the Wosk in Procesa inventory aceost. Requirement 3. Summarize the job costb of the unfinished chalet and show that this equais the ending belance in Work in Process irienliary Add the costs of the unfirished chalet, and show that this total amount equals the ending bolance in the Wark in Pitocess lavmiany account. Sherborn Homes Reconciliation of Work in Process Inventorv fuhnidaizm Requirement 4. Summarize the job cost of the completed chalet that has not yet beend sold and show inat this equals ine ensiny buance ir finised orodi kinentay. Sherborn Hornes. Reconciliation of Finished Goods inventory Subsidiary and Control Accounts Requirement 4. Summarize the job cost of the comploted chalet that has not yet been sold and show that this equals me endirg bialaren in Finuhed Goctis lirention Requirement 5. Compute the gross proft on esch chalet that was sod. What costs mut the gress profit cexor for shereomitanest Begin by detarmining which costs must be induced to compute grons predt for Sherbern Homes. The gross proft muat cavar these types of cests: (Coerglots ail incut follta.) Total cost equals Finished Goods balance Requirement 5. Compute the gross proft on each chaiet that was sold What costs must the grose proft cover for sinesber? H(laitice? Begin by determining which costs must be included to compule aross profit for Sherborn Homes. The gross profit must cover these bypes of costs: (Complete al input felde.) Now eompute the gross profi for each chalet sold Step by Step Solution
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