Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

XYZ Company uses job order costing. Job 101 was started with the following costs: Direct materials $5,000, Direct labor $3,000 (200 hours at $15 per

XYZ Company uses job order costing. Job 101 was started with the following costs: Direct materials $5,000, Direct labor $3,000 (200 hours at $15 per hour), and Manufacturing overhead is applied at a rate of $10 per labor hour. At the end of the month, Job 101 was completed.

Tasks:

  1. Calculate the total cost of Job 101.
  2. Prepare the journal entries to record the direct materials, direct labor, and applied overhead.
  3. Prepare the journal entry to record the completion of Job 101.


###question_divider###

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

Financial and Managerial Accounting the basis for business decisions

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

16th edition

0077664078, 978-0077664077, 78111048, 978-0078111044

More Books

Students also viewed these Accounting questions

Question

Brief the importance of span of control and its concepts.

Answered: 1 week ago

Question

What is meant by decentralisation?

Answered: 1 week ago

Question

Write down the Limitation of Beer - Lamberts law?

Answered: 1 week ago

Question

Discuss the Hawthorne experiments in detail

Answered: 1 week ago