Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rupert Company produces pipes for concert-quality organs. Each job is unique. In April 2016, it completed all outstanding orders, and then, in May 2016, it

Rupert Company produces pipes for concert-quality organs. Each job is unique. In April 2016, it completed all outstanding orders, and then, in May 2016, it worked on only two jobs, M1 and M2: (Click the icon to view the job information.) Direct manufacturing labour is paid at the rate of $28 per hour. Manufacturing overhead costs are allocated at a budgeted rate of $18 per direct manufacturing labour-hour. Only Job M1 was completed in May. Required Requirement 1. Compute the total cost for Job M1.. Job information - X Job Costs May 2016 Job M1 Total costs Requirement 2. 1,000 pipes were produced for Job M1. Calculate the cost per pipe. (Round your answer to the If 1,000 pipes were produced, the cost per each pipe for Job M1 is $ Requirement 3. Prepare the journal entry transferring Job M1 to finished goods. (Record debits first, then cred Date Journal Entry Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question 3 40 W 5 0 Rupert Company, May 2016 Direct materials Direct manufacturing labour Job M1 Job M2 $ 72,000 $51,000 273,000 203,000 Required Print Done - X 1. Calculate the total cost for Job M1. 2. 3. 4. 1,000 pipes were produced for Job M1. Calculate the cost per pipe. Prepare the journal entry transferring Job M1 to finished goods. What is the ending balance in the Work-in-Process Control account? & 7 ASUS VivoBook 8 Print Done If 1,000 pipes were produced, the cost per each pipe for Job M1 is $ Requirement 3. Prepare the journal entry transferring Job M1 to finished goods. (Record debits first, then credits Date Journal Entry Accounts Debit Credit Direct mar at the end of May 2016. Requirement 4. What is the ending balance in the Work-in-Process Control account? Rupert Company's Work-in-Process Control account has an ending balance of $ Choose from any list or enter any number in the input fields and then continue to the next question. ESC 3 14 5 13 9 ASUS Vivimage text in transcribedimage text in transcribed

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

Construction Accounting And Financial Management

Authors: Steven J. Peterson

3rd Edition

0132675056, 978-0132675055

More Books

Students also viewed these Accounting questions

Question

3. An initial value (anchoring).

Answered: 1 week ago

Question

4. Similarity (representativeness).

Answered: 1 week ago