{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-09-14T00:04:59-04:00", "answer_date": "2024-09-14 00:04:59", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "10720291", "url": "\/study-help\/questions\/sheridan-corporations-fiscal-year-ends-on-november-30-the-following-10720291", "question_creation_date_js": "2024-09-14T00:04:59-04:00", "question_creation_date": "Sep 14, 2024 12:04 AM", "meta_title": "[Solved] Sheridan Corporation's fiscal year ends o | SolutionInn", "meta_description": "Answer of - Sheridan Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost account | SolutionInn", "meta_keywords": "sheridan,corporation,s,fiscal,year,ends,november,30,accounts,found,job,order", "question_title_h1": "Sheridan Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of", "question_title": "Sheridan Corporation's fiscal year ends on November 30. The following accounts are", "question_title_for_js_snippet": "Sheridan Corporation's fiscal year ends on November 30 The following accounts are found in its job order cost accounting system for the first month of the new fiscal year Other data 1 2 On December 1, two jobs were in process Job No 154 and Job No 155 These jobs had combined direct materials costs of $9,950 and direct labor costs of $16,700 Overhead was applied at a rate that was 75 of direct labor cost During December, Job Nos 156, 157, and 158 were started On December 31 Job No 158 was unfinished This job had charges for direct materials $4,300 and direct labor $5,300, plus manufacturing overhead Alljobs, except for Job No 158, were completed in December On December 1, Job No 153 was in the finished goods warehouse It had a total cost of $5,300 On December 31, Job No 157 was the only job finished that was not sold It had a cost of $4,100 Manufacturing overhead was $1,045 underapplied in December 3 4 List the letters (a) through (m) and indicate the amount pertaining to each letter Raw Materials Inventory (a) Dec 31 Requisitions 18 350 Dec 1 Beginning balance Purchases Dec 31 Ending balance 31 19 125 8 215 Work in Process Inventory (b) Dec 31 Dec 1 Beginning balance Jobs completed (A) 31 Direct materials (c 31 Direct labor 00 wardad 31 Direct materials (c) 31 Direct labor 9 100 31 Overhead (d) Dec 31 Ending balance le) Finished Goods Inventory (s) Dec 31 Cost of goods sold Dec 1 Beginning balance 31 Completed jobs Dec 31 Ending balance th) 0 Factory Labor Dec 31 Wages assigned Dec 31 Factory wages 12 125 (k) Manufacturing Overhead 3,400 Dec 31 Overhead applied Dec 31 Indirect materials (m) 31 Indirect labor 0) 31 Other overhead 1,445", "question_description": "
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\"image<\/div> <\/div> Sheridan Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year. Other data: 1. 2. On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,950 and direct labor costs of $16,700. Overhead was applied at a rate that was 75% of direct labor cost. During December, Job Nos. 156, 157, and 158 were started. On December 31. Job No. 158 was unfinished. This job had charges for direct materials $4,300 and direct labor $5,300, plus manufacturing overhead. Alljobs, except for Job No. 158, were completed in December On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $5,300. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,100 Manufacturing overhead was $1,045 underapplied in December 3. 4. List the letters (a) through (m) and indicate the amount pertaining to each letter Raw Materials Inventory (a) Dec 31 Requisitions 18.350 Dec. 1 Beginning balance Purchases Dec 31 Ending balance 31 19.125 8.215 Work in Process Inventory (b) Dec 31 Dec 1 Beginning balance Jobs completed (A) 31 Direct materials (c 31 Direct labor 00 wardad 31 Direct materials (c) 31 Direct labor 9.100 31 Overhead (d) Dec.31 Ending balance le) Finished Goods Inventory (s) Dec 31 Cost of goods sold Dec 1 Beginning balance 31 Completed jobs Dec. 31 Ending balance th) 0 Factory Labor Dec 31 Wages assigned Dec. 31 Factory wages 12.125 (k) Manufacturing Overhead 3,400 Dec. 31 Overhead applied Dec. 31 Indirect materials (m) 31 Indirect labor 0) 31 Other overhead 1,445", "transcribed_text": "", "related_book": { "title": null, "isbn": null, "edition": null, "authors": null, "cover_image": null, "uri": null, "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-14 00:04:59", "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/industrial-organizational-psychology-understanding-the-workplace\/determine-the-ordering-of-events-does-the-acc-induce-fast-2008499", "description": "=+determine the ordering of events: Does the ACC induce fast response correction that accompanies a negative state conveyed by the insula, or does the ACC itself carry the aversive feelings that then...", "stars": 0 }, { "url": "\/study-help\/questions\/sheridan-corporations-fiscal-year-ends-on-november-30-the-following-10720291", "description": "Sheridan Corporation's fiscal year ends on November 30. 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