Answered step by step
Verified Expert Solution
Question
1 Approved Answer
resolucion completo del ejercicio 1. Watson Manulacturing Company employs a job order cost accounting system and keeps perpetual inventory records. The following transactions occurred in
resolucion completo del ejercicio
1. Watson Manulacturing Company employs a job order cost accounting system and keeps perpetual inventory records. The following transactions occurred in the first month of operntions: 1. Direct msteriats requisitioned during the month: \begin{tabular}{cr} Job 101 & $20,000 \\ Job 102 & 10,000 \\ Job 103 & 24,000 \\ & $6,0,00 \\ \hline \end{tabular} 2. Direct labor incumed and charged to jobs during the month was: Jab101Job102Job103$30,00028,00020,009$72,090 3. Manufucturing ovethead was applied to jobs worked on using a predetermined overhead rate besed on 75% of direct labor costs. 4. Actual manufacturing overhead costs incurred during the month amounted to $00.000. 5. Job 101 consisting of 1,000 units and Job 103 consisting of 200 units were complated during the month. Instructions (c) Prepare joumal entries to record the above transections. (b) Answer the following questions: 1. How much manulacturing overhead was applied to Job 103 during the month? 2. Compute the unit cost of Jobs 101 and 103 . 3. What is the belance in Work in Process Inventory at the end of the month? 4. Detemine if manutscturing overheed was under-or overapplied during the month. How much 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