Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost

Techuxia Corporation worked on four jobs during October: Job A256, Job A257, Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data:

Job A256 Job A257 Job A258 Job A260
Beginning balance $ 1,200 $ 500 $ 0 $ 0
Charged to the jobs during October:
Direct materials $ 2,600 $ 3,500 $ 1,400 $ 3,500
Direct labor $ 800 $ 1,000 $ 600 $ 400
Manufacturing overhead applied $ 1,200 $ 1,500 $ 900 $ 600
Units completed 100 0 200 0
Units sold during October 80 0 40 0

Jobs A256 and A258 were completed during October. The other two jobs were incomplete at the end of October. There was no finished goods inventory on October 1. The companys total manufacturing overhead applied equals its total actual manufacturing overhead.

Required:

  1. What is the cost of goods sold for October?

Note: Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount.

  1. What is the total value of the finished goods inventory at the end of October?

Note: Round intermediate calculations to 2 decimal places and final answer to nearest dollar amount.

  1. What is the total value of the work in process inventory at the end of October?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Energy Management Audit And Conservation

Authors: U. P. Kumar Chaturvedula

1st Edition

6202015985, 978-6202015981

More Books

Students also viewed these Accounting questions

Question

Choose an appropriate organizational pattern for your speech

Answered: 1 week ago

Question

Writing a Strong Conclusion

Answered: 1 week ago