Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Q4-Here is basic data for Ahmed Enterprises. Beginning raw materials inventory $18,000 Beginning work in process inventory Beginning finished goods 27,000 Cost of materials
Q4-Here is basic data for Ahmed Enterprises. Beginning raw materials inventory $18,000 Beginning work in process inventory Beginning finished goods 27,000 Cost of materials purchased inventory Cost of direct materials 42,500 Direct labor incurred requisitioned Actual manufacturing overhead 81,000 Completed goods (Marks 5+5) $ 32,000 74,000 67,500 147,500 Cost of goods sold 130,000 Manufacturing overhead rate (% of direct 125% labor Required: a- What would be the entry to record the cost of goods completed? b- What would be the entry to record the cost of jobs sold? After adjustment of over/under applied in CGS
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started