Question
SHOW ALL WORK. The following information was taken from the job cost sheet for Job 101 for Scott Manufacturing Company: Date started: July 5 Date
SHOW ALL WORK. The following information was taken from the job cost sheet for Job 101 for Scott Manufacturing Company:
| Date started: | July 5 |
| Date completed: | August 21 |
| Direct | Direct | Factory | Job | |
| Date | materials | labor | overhead | Total |
| July 5 | $3,000 | |||
| July 15 | $ 900 | $450 | ||
| July 17 | 1,500 | |||
| July 22 | 1,350 | 675 | ||
| August 1 | 1,500 | |||
| August 21 | 600 | 300 | ||
Job 101 was sold on account on August 25 for 160% of its cost. Required:
| A. | Prepare the journal entries to record the costs incurred for Job 101 in the current year for direct materials, direct labor, and factory overhead. |
| B. | Prepare the journal entry to record the completion of Job 101. |
| C. | What is the predetermined factory overhead rate for Scott? |
| D. | Prepare the journal entries to record the sale of Job 101. |
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Audit Customer Satisfaction Marketing Added Value
Authors: Cindy E. Cosmas
1st Edition
089413373X, 978-0894133732
