Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Schedules for Unfinished Jobs and Completed Jobs Waddell Equipenent Company uses a job order cost system, The following data summarize the operations related to production
Schedules for Unfinished Jobs and Completed Jobs Waddell Equipenent Company uses a job order cost system, The following data summarize the operations related to production for Apeil zoy 4 , the first month of ageratians a- Materials purchased on account, $36,000. b. Moterials requisitioned and factory labor used: c. Factory overhead costs incurred on account, $6,000, d. Depreciation of machinery and equipment, $1,550. 6. The factory overhead rate is $40 per machine haur. Machine hours used: f. Jobs completed: 401,402,403, and 405 . g. Jobs were shipped and customers were billed as follows: Job 401$22,750, Job 402$16,600, Job 403$8,400. Instructions: 1. Prepare a schedule summarizing manufacturing costs by job for April. 2. Prepare a schedule of jobs finished in April. 2. Prepare a schedule of jobs finished in April. Wadfall En 3. Prepare a schedule of jobs sold in April. 3. Prepare a schedule of jobs sold in April. What account does this schedule support for the month of April? 4. Prepare a schedule of completec jobs on hand as of April 30, 20Y4, What account does this schedule support? 5. Prepare a schedule of unfinished jobs as of April 30, 20Y4. 6. Determine the gross profit for April based upon the jobs sold. Ignore the difference between actual and applied factory overhead
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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