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Prepare job-order cost sheets for each job as of April 30. Calculate the ending balance in Work in Process (as of April 30) and Cost
Prepare job-order cost sheets for each job as of April 30. | |
Calculate the ending balance in Work in Process (as of April 30) and Cost of Goods Sold for April. | |
Construct an income statement for Ensign Landscape Design for the month of April. |
Ensign Landscape Design designs landscape plans and plants the material for clients. On April 1, there were three jobs in process, Jobs 39, 40, and 41. During April, two more jobs were started, Jobs 42 and 43. By April 30, Jobs 40, 41, and 43 were completed and sold. The following data were gathered:
Overhead is applied at the rate of 110% of direct labor cost. Jobs are sold at cost plus 30%. Selling and administrative expenses for April totaled $4,575. (Round all amounts to the nearest dollar.)
Instructions Labels and Amount Descriptions Ensign Landscape Design designs landscape plans and plants the material for clients. On April 1, there were three the exact wording of text items within your job-cost sheets and income statement Refer to the list below Jobs 40. jobs in process, Jobs 39, 40, and 4 During April, two more jobs were started, Jobs 42 and 43. By April 3 41, and 43 were completed and sold. The following data were gathered Labels Add Job 39 Job 40 Job 41 Job 42 Job 43 Less Balance, April 1 $540 $3,400 $2,990 Amount Descriptions Applied overhead Direct materials 700 560 375 $3,500 S6,900 Beginning balance Direct labor 500 600 49C 2.500 3.000 Cost of goods sold Direct labor Overhead is applied at the rate of 110 % of direct labor cost. Jobs are sold at cost plus 30 %. Selling and Direct materials administrative expenses for April totaled $4.575, (Round all amounts to the nearest dollar.) Gross margin Operating income Required: Operating loss 1. Prepare job-order cost sheets reach job as of April 30 Sales 2. Calculate the ending balance in Work Process (as of April 30) and Cost of Goods Sold for April. Selling and administrative expenses 3. Construct an income statement for Ensign Landscape Design for the month of April. TotalStep by Step Solution
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