Question 6 (16 points) Saved Complete Problem 5-28 and answer the following question. 1 6 Remember to enter numeric amounts without a $ or, (a comma). If the answer is $20,000.00, then enter the number as 20000. Remember to round to 2 decimal places. For numbers such as 1.456, round up to 1.46 and for numbers such as 1.452, round down to 1.45 Required: 1. The overhead application rate for the Asher job is (enter a numerical answer) which is a (dollar value, percentage). The overhead applicatin rate for the Bryson and Cooper jobs is A (different, the same) because A application rates (change, remain constant) for every job. W 2. Prepare simple job-order cost sheets for each of the five jobs in process during P 27 (change, remain constant) for every job. 2. Prepare simple job-order cost sheets for each of the five jobs in process during January. You will need this information to answer the remaining questions. 3. The ending balance of Work in Process on January 31 is $ A/ . The Cost of Goods Sold for January is $ AJ 4. Suppose that Kenno Prosthetics Company prices its jobs at cost plus 20 percent. In addition, during January, marketing and administrative costs of $3,400 were incurred. On the income statement for January the Gross Margin would be $ A and Operating Income would be $ A/ Question 7 (18 points) Complete Problem 5-29 and answer the following questions. Remember to enter numeric amounts without a $ or. (a comma). If the answer is $20,000.00 then enter the number as 20000. Remember to round 2 decimal places. W - S10,575 OBJECTIVE and make up data for it that would total the 510 kilometres driven on the Alban job Design a source document for this use, Problem 5-28 Calculating Ending Work in Process, Income Statement Kenno Prosthetics Company produces artificial limbs for individuals. Each prosthetics unique On January 1, three jobs (identified by the name of the person being fitted with the prosthetic) were in process with the following costs Bryson Cooper Direct materials $400 51.360 $ 3,120 Direct labour 1,400 2,800 4,200 Applied overhead 2,240 3.360 Total $2,920 $6,400 $10,680 Asher 1,120 During the month of January, two more jobs were started, for Davison and Egberts. Materials and labour costs incurred by cach job in January are as follows: Materials Direct Labour Asher 52,400 $1,200 Bryson 2,200 800 Coor 3.440 1.000 David 5.240 6.000 Egberts 1,040 720 Cooper's and Davison's prosthetics were completed and sold by January 31, tch Chapter 5 Sb-Order Costing Required: 1. If overhead is applied on the basis of direct labour dollars, what is the overhead rate! 2. Prepare simple job-order cost sheets for each of the five jobs in process during January 3 What is the ending balance of Work in Process as at January 31? What is the cost of Goods Sold in January Suppose that Kenno Prosthetics Company prices its jobs at cost plus 20 percent. In addition, during January, marketing and administrative costs of $3,400 were incurred. Prepare an income statement for the month of January Check figure Ending Work in Process January 31 - $19.856 4. Ratas OBJECTIVE
