Question
Provide answers for the following 10 questions. Submit answers in assignments using the submission link in e-courses, preferably using a word file. Green Company produces
Provide answers for the following 10 questions. Submit answers in assignments using the submission link in e-courses, preferably using a word file.
- Green Company produces lamps. Each job is unique. In April 2009, it completed all outstanding orders, and then in May 2009, it worked on two jobs, J1 and J2:
Direct manufacturing labor is paid at the rate of $15 per hour. Manufacturing overhead costs are allocated at a budgeted rate of $20 per direct manufacturing labor-hour. Only Job J1 was completed in May. SHOW WORK.
a. Compute the total cost for Job J1.
b. 1,000 lamps were produced for Job J1. Calculate the cost per lamp.
c. Prepare the journal entry transferring Job J1 to finished goods.
d. What is the ending balance in the Work-in-Process control account?
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