PROBLEM SOLVING: Butch Manufacturing Company uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of S5,000 representing Job No. 323 (materials $2,000, direct labor $2,000, and applied overhead based on 50% direct labor cost ). During April, a summary of source documents reveals the following: Purchase Order Material A $10,000 Material B 12,000 Materials Requisitions Labor Time Tickets Job No. 323 # 5 Mat A $ 2.200 $ 2,000 324 #6 Mat B 2,700 3,800 325 # 7 Mat A 4,500 3,000 326 #8 Mat B 2,400 1,800 General use Indirect Materials 900 Indirect Labor 1.200 Job No. 323 and 324 are completed but only Job 324 was delivered. From the above information, prepare cost sheets and answer the following: 1. the cost of goods manufactured amount to 2. The cost of goods sold amount to 3. If material A has a beginning balance of $3,000, the total cost of raw materials inventory end is DM Bench Manufacturing Company uses the process cost system to cost its product, ragdolls, which it plans to mass produce at a rate of 1,000 per month. It applies overhead at a rate of 100% of labor cost and started its operation in October 2020 in time for Christmas. A cost flow is illustrated below for its two departments: WORK IN PROC- Cutting MATERIALS 34,300 LABOR DL 12,750 WORK IN PROC-Sewing FACTORY OVERHEAD DM 30,000 + DL 15,000 Addtl costs to process further in the 2nd dept At the end of the month, Cutting has still 200 rag dolls in process as it is only 60% complete while the Sewing Dept has still 100 in process which is half done. From the above information, complete the cost flow and answer the following: 4. The equivalent units in the Cutting Dept is 5. The cost per unit is 6. Cost transferred to the Sewing Dept is 7. Work in process end in the Cuttng Dept is 8. The equivalent units in the Sewing Dept is 9. The cost of the finished units transferred out by the Sewing Dept is 10. The work in process at the end of October in the Sewing Dept is PROBLEM SOLVING: Butch Manufacturing Company uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of S5,000 representing Job No. 323 (materials $2,000, direct labor $2,000, and applied overhead based on 50% direct labor cost ). During April, a summary of source documents reveals the following: Purchase Order Material A $10,000 Material B 12,000 Materials Requisitions Labor Time Tickets Job No. 323 # 5 Mat A $ 2.200 $ 2,000 324 #6 Mat B 2,700 3,800 325 # 7 Mat A 4,500 3,000 326 #8 Mat B 2,400 1,800 General use Indirect Materials 900 Indirect Labor 1.200 Job No. 323 and 324 are completed but only Job 324 was delivered. From the above information, prepare cost sheets and answer the following: 1. the cost of goods manufactured amount to 2. The cost of goods sold amount to 3. If material A has a beginning balance of $3,000, the total cost of raw materials inventory end is DM Bench Manufacturing Company uses the process cost system to cost its product, ragdolls, which it plans to mass produce at a rate of 1,000 per month. It applies overhead at a rate of 100% of labor cost and started its operation in October 2020 in time for Christmas. A cost flow is illustrated below for its two departments: WORK IN PROC- Cutting MATERIALS 34,300 LABOR DL 12,750 WORK IN PROC-Sewing FACTORY OVERHEAD DM 30,000 + DL 15,000 Addtl costs to process further in the 2nd dept At the end of the month, Cutting has still 200 rag dolls in process as it is only 60% complete while the Sewing Dept has still 100 in process which is half done. From the above information, complete the cost flow and answer the following: 4. The equivalent units in the Cutting Dept is 5. The cost per unit is 6. Cost transferred to the Sewing Dept is 7. Work in process end in the Cuttng Dept is 8. The equivalent units in the Sewing Dept is 9. The cost of the finished units transferred out by the Sewing Dept is 10. The work in process at the end of October in the Sewing Dept is
