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, 2018B/S shows below balances: June 1,

image text in transcribed Use below information for Questions 6 to 9: Company X is a manufacturing firm producing specialized equipments. June 1, 2018B/S shows below balances: June 1, 2018 subsidiary ledgers (job cost sheets) show 3 jobs are being performed with following balances 1 : During June, RM purchases on account were TL4,930, and all wages (inclusive of payroll taxes) were paid in cash. Additional MOH of depreciation on factory equipment of TL900 was incurred together with miscellaneous production costs of TL430 on account. A summary of MRSs and LTTs shows below information (Hint: General use is also for production.): INote that the total of job cost shesets is the Beg WII MOH was charged to jobs at a rate of 1.75 per TL of DM costs. Jobs R, S and L were completed in June. R and S were sold in cash. Selling expenses totalled TL 17,534 . 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 .) Use below information for Questions 6 to 9: Company X is a manufacturing firm producing specialized equipments. June 1, 2018B/S shows below balances: June 1, 2018 subsidiary ledgers (job cost sheets) show 3 jobs are being performed with following balances 1 : During June, RM purchases on account were TL4,930, and all wages (inclusive of payroll taxes) were paid in cash. Additional MOH of depreciation on factory equipment of TL900 was incurred together with miscellaneous production costs of TL430 on account. A summary of MRSs and LTTs shows below information (Hint: General use is also for production.): INote that the total of job cost shesets is the Beg WII MOH was charged to jobs at a rate of 1.75 per TL of DM costs. Jobs R, S and L were completed in June. R and S were sold in cash. Selling expenses totalled TL 17,534 . 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

Creative And Innovative Auditing

Authors: Jeffrey Ridley

1st Edition

1472474627, 9781472474629

More Books

Students also viewed these Accounting questions

Question

Find the following. (v 2 e 3v )dv

Answered: 1 week ago