Answered step by step
Verified Expert Solution
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
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: Beginning balance Job A256 Job A257 $ 1,200 Job A258 Job A260 $ 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 in process at the end of October Units sold during October 0 80 150 0 0 40 120 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 company's 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. 2. 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. 3. What is the total value of the work in process inventory at the end of October? 1. Cost of goods sold for October 2. Finished goods inventory at the end of October 3. Work in process inventory at the end of October
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started