Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Job cost sheets for Carla Vista Manufacturing are as follows: Job No 210 Quantity 1,500 Manufacturing Overhead Date Direct Materials Direct Labor July 1 10,620
Job cost sheets for Carla Vista Manufacturing are as follows: Job No 210 Quantity 1,500 Manufacturing Overhead Date Direct Materials Direct Labor July 1 10,620 9,440 14,160 8 10,030 10 11,800 15 6,490 25 23,600 Job No 211 Quantity 1,200 Manufacturing Overhead Date Direct Materials Direct Labor July 1 5,900 7,080 10,620 10 10,620 15 9,440 20 8,260 27 14,160 What was the balance in Work in Process Inventory on July 1 if these were the only unfinished jobs? Balance in Work in Process Inventory $ What was the predetermined overhead rate in June if overhead was applied on the basis of direct labor cost? Predetermined overhead rate % If July is the start of a new fiscal year and the overhead rate is 20% higher than in the preceding year, how much overhead should be applied to Job 210 in July? Overhead applied in July $ Assuming Job 210 is complete, what is the total and unit cost of the job? (Round unit cost answer to 2 decimal places, e.g. 52.75.) Total cost $ Unit cost $ Assuming Job 211 is the only unfinished job at July 31, what is the balance in Work in Process Inventory on this date? Balance in Work in Process Inventory $ Journalize the summary entries to record the assignment of costs to the jobs in July. (Note: Make one entry in total for each manufacturing cost element.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit (To assign materials to jobs) (To assign labor to jobs) (To assign overhead to jobs)
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