Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3) Dandy Company produces picture frames. On September 1, four jobs were in process with the following costs: Job 35 Job 36 Direct materials

image text in transcribed
Question 3) Dandy Company produces picture frames. On September 1, four jobs were in process with the following costs: Job 35 Job 36 Direct materials Job 37 Job 38 $696 $464 S 928 Direct labor $1,160 600 400 700 1,000 Applied overhead 870 580 1,160 1,450 During the month of September, two more jobs were started, Jobs 39 and 40. Materials and labor costs incurred by each job in September are as follows: Materials Direct Labor Job 35 $404 $300 Job 36 252 200 Job 37 364 400 Job 38 888 600 Job 39 760 500 Job 40 992 800 Jobs 36, 37, and 39 were completed and sold by September 30. Dandy prices its jobs at cost plus 65%. Required (round to 2 decimal places when needed): 1) What are the total costs for each job (35-40) and in total as of September 30? 2) What are the WIP, FG, & COGS balances as of September 30? 3) What would the Gross Margin be at the end of the month of September

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_2

Step: 3

blur-text-image_3

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

The Safe Hiring Audit The Employers Guide To Implementing A Safe Hiring Program

Authors: Lester S. Rosen

1st Edition

1889150517, 978-1889150512

More Books

Students also viewed these Accounting questions

Question

Virtualization was at the forefront of the cloud migration?

Answered: 1 week ago

Question

Determine miller indices of plane X z 2/3 90% a/3

Answered: 1 week ago