Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use below information for Questions 6 to 9: Company X is a manufacturing firm producing specialized equipments. June 1, 2018 B/S shows below balances: Item

image text in transcribed

Use below information for Questions 6 to 9: Company X is a manufacturing firm producing specialized equipments. June 1, 2018 B/S shows below balances: Item Bes RM MOH Applied MOH Incurred 1.220 32.240 39.650 June 1, 2018 subsidiary ledgers (job cost sheets) show 3 jobs are being performed with following balances: Assigned Costs DM DL MOH 690 320 4036 800 516 675 960 50 795 During June, RM purchases on account were TL4,940, and all wages (inclusive of payroll taxes) were paid in cash. Additional MOH of depreciation on factory equipment of T1.900 was incurred together with miscellaneous production costs of TL440 on account. A summary of MRSs and LTTS shows below information (Hint: General use is also for production.): Assigned Costs DM 520 2.000 590 1.300 390 General Use 1.500 DL 350 820 360 1.290 390 1.206 Note that the total of job cost sheets is the Bey WIP MOH was charged to jobs at a rate of 1.65 per TL of DM costs. Jobs R, S and I were completed in June. R and S were sold in cash. Q-6) Compute the balance of WIP as at June 30. Q-7) Compute the balance of FG as at June 30. Q-8) Compute the balance of COGS as at June 30. Q-9) Calculate the balance of MOH account as at June 30. Use - if the MOH is underapplied. (e.g. if the account gives an overapplied balance of 100, enter 100. If the account gives an underapplied balance of 100, enter -100.)

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

Quality Audit In Health Care To Avoid Disallowances Literature Review

Authors: Ana P. Alves De Asevedo

1st Edition

6206120406, 978-6206120407

More Books

Students also viewed these Accounting questions

Question

Graph the function g(x) = x 2 - 1

Answered: 1 week ago