Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Thoni Manufacturing has gathered information from materials requisition sheets and labor time sheets for several jobs worked on during the last month and needs to

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Thoni Manufacturing has gathered information from materials requisition sheets and labor time sheets for several jobs worked on during the last month and needs to calculate the job costs. Click here to view the Excel dataset. What is the total amount of direct labor added to work in process during the month? You will find the data in the labor tab of the data worksheet. You will need to use the VLOOKUP function to find employee wage rates in the wage rate tab of the worksheet. Remember that time data is expressed in hours and minutes, while the wage rate is expressed on an hourly basis. You will need to convert minutes worked to their decimal equivalent before making the direct labor calculation. You may find the HOUR and MINUTE functions helpful for this calculation (HOUR(cell reference) + MINUTE(cell reference))/60. (Round answer to 2 decimal places, e.g. 1,524.54.) Total amount of direct labor $ Thoni Manufacturing has gathered information from materials requisition sheets and labor time sheets for several jobs worked on during the last month and needs to calculate the job costs. Click here to view the Excel dataset. Charlie Anderson, Thoni's CFO is concerned that some employees may not be appropriately recording the time worked on specific jobs. Sort the labor time tickets by time worked. What do you notice? B 1 T T I !!!! 111 a 3 99 a 1 7 + C o Words) eTextbook and Media What other information would help Charlie evaluate the appropriateness of the time recorded? B 1 TTLE E 99 a " O Words) 12:177 Student EDIT Data 1 - Job Cost Totals Data 2 - Materials Requisitio del Numbet Direct Material Directibe sealed Outhend Tesalot Cerita 12300 12301 12302 12300 1234 12306 12500 12300 12308 123 12310 12311 12312 12313 12314 12315 12316 12317 1218 12016 12.30 12321 12322 12323 12324 1235 12320 12327 12226 12230 12330 12331 12333 12335 12235 12336 12331 12338 12330 12340 12341 12342 12343 12344 12345 12346 12347 12345 12345 23 12:17 Student

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

Wiley CPAexcel Exam Review 2018 Study Guide Auditing And Attestation

Authors: Wiley

1st Edition

1119480671, 978-1119480679

More Books

Students also viewed these Accounting questions

Question

understand the meaning of the terms discipline and grievance

Answered: 1 week ago