Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

VYOWE Current Attempt in Progress Vaughn Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's

image text in transcribed
image text in transcribed
VYOWE Current Attempt in Progress Vaughn Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1 Materials purchased on account $196,600, and factory wages incurred $94,100. Materials requisitioned and factory labor used by job: 2. Materials Job Number A20 A21 A22 A23 General factory use $37,140 44,720 36,500 41,870 4,770 $165,000 Factory Labor $19.700 22,900 16,900 27,000 7,600 $94,100 3. 4. 5. 6. Manufacturing overhead costs incurred on account $51.500. Depreciation on factory equipment $16,150. Depreciation on the company's office building was $14,800. Manufacturing overhead rate is 80% of direct labor cost. Jobs completed during the quarter: A20, A21, and A23. 7. Prepare a schedule showing the individual cost elements and total cost for each job in item 7. Direct Materials Direct Labor Manufacturing Overhead Job $ $ A20 $ A21 A23 $ honnontions summarized ah ye. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation (1) (To record materials purchases) (To record factory wages) (2) (To record materials put into production) (To record labor put into production) (3) 1 (4) (5) (6) (7)

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

Internal Audit Leadership Elevating The Internal Audit Function To Accelerate Value

Authors: Patricia Kaim

1st Edition

1032557168, 978-1032557168

More Books

Students also viewed these Accounting questions