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Use the data above and job order costing cost flow techniques to answer the following questions: 1. Draw out the t-accounts and put in the
Use the data above and job order costing cost flow techniques to answer the following questions: 1. Draw out the t-accounts and put in the placeholders 2. Label the cost as either, product direct, product indirect or period 3. With each journal entry, list the account that will be debited and the account that will be credited 4. Record all of the journal entries into t-accounts 5. What is the total inventory Balance? 6. What is the cost of goods manufactured? 7. What is the cost of goods sold? 8. What is raw materials used? 9. What are the manufacturing supplies used? 10. Create an income statement 11. What is net income? 12. Analyze the Overhead and account and determine if we are over or under applied and by how much 13. Which account does the over or under applied overhead get closed to? Use the data above and job order costing cost flow techniques to answer the following questions: 1. Draw out the t-accounts and put in the placeholders 2. Label the cost as either, product direct, product indirect or period 3. With each journal entry, list the account that will be debited and the account that will be credited 4. Record all of the journal entries into t-accounts 5. What is the total inventory Balance? 6. What is the cost of goods manufactured? 7. What is the cost of goods sold? 8. What is raw materials used? 9. What are the manufacturing supplies used? 10. Create an income statement 11. What is net income? 12. Analyze the Overhead and account and determine if we are over or under applied and by how much 13. Which account does the over or under applied overhead get closed to
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