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Solve step by step and show all calculations. 2. The following information relates to the manufacturing operations of Delicious Co. during the month of January.
Solve step by step and show all calculations.
2. The following information relates to the manufacturing operations of Delicious Co. during the month of January. The company uses job order costing. Please do the following journal entries. Points will be given ONLY if you show ALL computations Do the journal entries inside the table and show your calculations outside the table. (45 points) a) Purchases of direct materials on account during the month amount to $45000 Debit Credit Db Cr b) Materials used by the Production Department during the month total $40000 Debit Credit Db Cr c) Time cards of direct workers show 1200 hours worked on various jobs during the month for $20 per hour Calculations: Debit Credit Db Cr d) Direct workers were paid $20000 in January Debit Credit Db Cr e) Actual overhead costs for the month mount to $42000. Overhead costs has not been paid in cas yet, will be paid later. Debit Credit Db Cr f) Overhead is applied to jobs at a rate of 120% direct labor cost Calculations: Debit Credit Db Cr g) Jobs with total accumulated costs of $105000 were completed during the month Debit Credit Db Cr h) During January, 50 units costing $25 per unit were sold on account for selling price of $35 per unit. Calculations: Debit Credit Db Cr Debit Credit Db Cr i) Work in process inventory had a beginning balance of $25,000 in January. Calculate the ending balance of work in process inventory at the end of January CalculationsStep by Step Solution
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