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iPad 8:49 PM 98% edugen.wileyplus.com Instagram H | what can I | Instagram H | chattanoog | McKamey A | Reset Pass WileyPLUS Exercise 15-11 Shown below are the job cost related accounts for the law firm of Jack, Bob, and Will and their manufacturing equivalents: Exercise 15-1 Exercise 15-2(Part Supplies Salaries and Wages Payable Exercise 15-2 Exercise 15-3 Exercise 15-4 Exercise 15-5 Level Submission Exercise 15-5 Raw Materials Factory Wages Payable Manufacturing Overhead Work in Process Service Contracts in Process Cost of Completed Service ContractsCost of Goods Sold Cost data for the month of March follow. Exercise 15-6 Exercise 15-7 Exercise 15-9 Level Submission 1. Purchased supplies on account $2,220 2. Issued supplies $1,500 (60% direct and 40% indirect) 3. Assigned labor costs based on time cards for the month which indicated labor costs of $69,600 (80% direct and 20% Operating overhead costs incurred for cash totaled $44,420. Operating overhead is applied at a rate of 90% of direct attorney cost. Work completed totaled $82,120. 5. 6. Exercise 15-10 Exercise 15-11 Level Submission Your answer is partially correct. Try again. Journalize the transactions for March. (Credit account titles are automatically indented when amount is entered Do not indent manually.) Exercise 15-13 No. Account Tatles and Explanation Review Score Raw Materials Inventory 2200 Review Results by Study 2200 Work in Process Invent 150 Overhea 600 Raw Materials Inventor 900 Work in Process Inventory 69600 13920 Salaries and Wages 5568 Manufacturing Overhead 105000 Accumulated Depreciat 105000 Manufacturing Overhead 444220 Accounts Payable 444220 Cost of Goods Sold 82120 Finished Goods I 82120 LIST OF ACCOUNTS Your answer is incorrect. Try again Determine the balance of the Service Contracts in Process account Balance of Service Contracts in Process account. 49357.78Explanation / Answer
Journal entries
Balance of service contracts in process accounts $39,092
Description Debit Credit Supplies $2,200 To Accounts payable $2,200 Service contracts in process 1,500 To Supplies 900 to Operating overhead 600 Service contracts in process $69,600 To Salary & wages paayble $55,680 To Operating overhead 13,920 Operating overhead $4,420 To Cash $4,420 Servixe contracts in process $50,112 To Operating overhead $50,112 Cost of completed service contracts $82,120 To Service contracts in process $82,120Related Questions
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