Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question: Compute the total manufacturing costs assigned to jobs in January in each department. For the year ended December 31, 2020, the job cost sheets
Question: Compute the total manufacturing costs assigned to jobs in January in each department.
For the year ended December 31, 2020, the job cost sheets of Cinta Company contained the following data. Job Number Total Costs 7640 Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs Direct Materials $29,000 34,800 12,760 49,880 67,280 Direct Labor $27,840 41,760 20,880 55,680 Manufacturing Overhead $33,408 50.112 25,056 66,816 76,560 $90,248 126,672 58,696 172,376 7641 7642 63,800 207,640 Other data: 1. 2. 3. Raw materials inventory totaled $17,400 on January 1. During the year, $162,400 of raw materials were purchased on account. Finished goods on January 1 consisted of Job No. 7638 for $100,920 and Job No. 7639 for $106,720. Job No. 7640 and Job No. 7641 were completed during the year. Job Nos. 7638,7639, and 7641 were sold on account for $614,800. Manufacturing overhead incurred on account totaled $139,200. Other manufacturing overhead consisted of indirect materials $16,240, indirect labor $20,880, and depreciation on factory machinery $9,280. 4. 5. 6. (b) Compute the total manufacturing costs assigned to jobs in January in each department. Manufacturing Costs Department D $ Department E Department K $ e Textbook and Media For the year ended December 31, 2020, the job cost sheets of Cinta Company contained the following data. Job Number Total Costs 7640 Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs Direct Materials $29,000 34,800 12,760 49,880 67,280 Direct Labor $27,840 41,760 20,880 55,680 Manufacturing Overhead $33,408 50.112 25,056 66,816 76,560 $90,248 126,672 58,696 172,376 7641 7642 63,800 207,640 Other data: 1. 2. 3. Raw materials inventory totaled $17,400 on January 1. During the year, $162,400 of raw materials were purchased on account. Finished goods on January 1 consisted of Job No. 7638 for $100,920 and Job No. 7639 for $106,720. Job No. 7640 and Job No. 7641 were completed during the year. Job Nos. 7638,7639, and 7641 were sold on account for $614,800. Manufacturing overhead incurred on account totaled $139,200. Other manufacturing overhead consisted of indirect materials $16,240, indirect labor $20,880, and depreciation on factory machinery $9,280. 4. 5. 6. (b) Compute the total manufacturing costs assigned to jobs in January in each department. Manufacturing Costs Department D $ Department E Department K $ e Textbook and MediaStep 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