Service Cost Flows Vente Marketing Lor, produces colouision acvertisements for businesses that are marketing products in the western provinces of Canada. To achieve cast control, Vente Marketing uses ajab cost system similar ta that found in a manutacturing organization. It uses same different accountries: Account Replaces Videos Process WUTCn-Frocess Video Supplies Invertory Manufacturing Supplies Invertory Costo Mdeos Cerrpleted Costcr dcccs Sold Accumulated Depreciation. Studio Acsets Accuratec Dcordation Factory Assets Studia Owerrand Manufacturing Overhead Vente Marketing does not maintain Raw Waterials or Finished Goods Inventory accounts. Materials, such as props needed for videos are purchased as needed from outside sources and charged directly to Videcs-in-Frocess and the appropriate job. Videos are delivered directly to clients upon completion. The April 1. balances were as folons: Video Supplies $1.300 Videos In-Process 2.000 Studio Overhead 250 underapplied During April Vente Marketing completed the following procucion transactions 1. Purchased video supplies posting $1.900 or account. 2. Purchased material for specific jabs casting 529,000 on account 3. Incurred direct labar costs ar $55,000 and indirect labor costs of 3.100 4 Used production supplies costing $1,050, 5 Recorded studio depreciation of $5,500 6. Incurred miscelaneous payables for studio overhead of $2,000 7. Apolied studio uverhead at a predetermined rate of $20 per studio hour, with 520 studis hours. & Corrpleted jous costing $102.000 and delivered them directly to clients. (9) Prepare 'T' accounts showing the flow of costs through all service accounts and cast of videos Completed. Videos in Process Studio Overhead Bal 2.00 Bal 360 29000 0500 Other Payables Accounts Payable Cost of Videos Completed Wages Payable Videos Supplies Inventory 1,300 Accumulated Depreciation Studio Assets Bal 1. Calculate the cost incurred as of the end of Agirl for the incompete jobs still in process $ Service Cost Flows Vente Marketing Lor, produces colouision acvertisements for businesses that are marketing products in the western provinces of Canada. To achieve cast control, Vente Marketing uses ajab cost system similar ta that found in a manutacturing organization. It uses same different accountries: Account Replaces Videos Process WUTCn-Frocess Video Supplies Invertory Manufacturing Supplies Invertory Costo Mdeos Cerrpleted Costcr dcccs Sold Accumulated Depreciation. Studio Acsets Accuratec Dcordation Factory Assets Studia Owerrand Manufacturing Overhead Vente Marketing does not maintain Raw Waterials or Finished Goods Inventory accounts. Materials, such as props needed for videos are purchased as needed from outside sources and charged directly to Videcs-in-Frocess and the appropriate job. Videos are delivered directly to clients upon completion. The April 1. balances were as folons: Video Supplies $1.300 Videos In-Process 2.000 Studio Overhead 250 underapplied During April Vente Marketing completed the following procucion transactions 1. Purchased video supplies posting $1.900 or account. 2. Purchased material for specific jabs casting 529,000 on account 3. Incurred direct labar costs ar $55,000 and indirect labor costs of 3.100 4 Used production supplies costing $1,050, 5 Recorded studio depreciation of $5,500 6. Incurred miscelaneous payables for studio overhead of $2,000 7. Apolied studio uverhead at a predetermined rate of $20 per studio hour, with 520 studis hours. & Corrpleted jous costing $102.000 and delivered them directly to clients. (9) Prepare 'T' accounts showing the flow of costs through all service accounts and cast of videos Completed. Videos in Process Studio Overhead Bal 2.00 Bal 360 29000 0500 Other Payables Accounts Payable Cost of Videos Completed Wages Payable Videos Supplies Inventory 1,300 Accumulated Depreciation Studio Assets Bal 1. Calculate the cost incurred as of the end of Agirl for the incompete jobs still in process $
