Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

question 1: question 2: A job order cost sheet for Sheffield Company is shown below. Job No. 92 For 2,000 Units Direct Materials Direct Labor

question 1: image text in transcribed
image text in transcribed
question 2:
image text in transcribed
image text in transcribed
A job order cost sheet for Sheffield Company is shown below. Job No. 92 For 2,000 Units Direct Materials Direct Labor Manufacturing Overhead Date Beg. bal. Jan. 1 6,700 7,000 4,900 7,000 10,000 7.500 2,800 4,000 3,000 15,400 16,500 21,000 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($52,900 +2,000) $16,500 21,000 15,400 $52,900 $26.45 Date Account Titles and Explanation Debit Credit Jan. 31 Work in Process Inventory Raw Materials Inventory (To record raw materials used) 31 Work In Process Inventory Factory Labor (To record factory labor used) 31 Work in Process Inventory Manufacturing Overhead (To record manufacturing overhead) 31 Finished Goods Inventory 52900 Work in Process Inventory 52900 (To record job completed) A job cost sheet of Sheffield Company is given below. Job Cost Sheet JOB NO. 469 Quantity 2.500 ITEM White Lion Cages Date Requested 7/2 FOR Todd Company. Date Completed 7/31 Date Direct Materials Direct Labor Manufacturing Overhead 7/10 700 900 500 1,625 1,525 500 625 Cost of completed job: Direct materials Direct labor Manufacturing overhead (3) What are the total cost and the unit cost of the completed job? (Round unit cost to 2 decimal places, s. 1.25.) Total cost of the completed job $ Unit cost of the completed job eTextbook and Media List of Accounts * Your answer is incorrect. Prepare the entry to record the completion of the job. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 e Textbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing For Managers The Ultimate Risk Management Tool

Authors: K. H. Spencer Pickett, Jennifer M. Pickett

1st Edition

ISBN: 0470090987, 978-0470090985

More Books

Students also viewed these Accounting questions

Question

Enhance the basic quality of your voice.

Answered: 1 week ago

Question

Describe the features of and process used by a writing team.

Answered: 1 week ago