This problem relates to a Job Order System. At the beginning of June, Cherry Hil

Question

This problem relates to a Job Order System. At the beginning of June, Cherry Hill had two jobs in process. Job #3411 (DM=$800 and DL= $1,400.) Job #3422 (Dm= $2,100 and DL = $3,700). You must apply the appropriate amount of MO for these two jobs using the POR. POR rate = 200% of the Direct Labor $. The POR rate is for the entire year.

Job #3422 Will be finished in early June.

Job #3411 was finished during June.

Job #3433 was started but not finished during June

What was the ending WIP balance and cost of goods manufactured for June?

.Managerial Accounting Exam 1.xls 78% Search in Sheet Home Layout Tables Charts SmartArt Formulas Data Review Edit Font Number Format Cells Calibri (Body) abc Wrap Text : Accounting Merge : 00 Styles : Insert Delete Format . Themes AA" .00 .0 Formatting B17 x57600 Job Cost Sheets 6/1 WIP une Cost 6/30 Balance Status of job Job #3411 Completed s Direct Materials 6 Direct Labor 7 Manufacturing Overhead 8 Total Cost of Manufactured Job 800 1,400 2,800 5,000 Job #3422 WIP 11 Direct Materials 12 Direct Labor 13 Manufacturing Overhead 14 Total Cost of Manufactured Job 2,100 3,700 7,400 13,200 Job #3433 WIP Direct Materials 18 Direct Labor 19 Manufacturing Overhead 0 Total Cost of Manufactured Job 57,600 15,800 31,600 105,000 57,600 15,800 31,600 105,000 22 Total Ending WIP WIP Jobs 24 Total Cost of Goods Manufactured Completed Jobs 26 Cover Problem ! Problem 2 | Problem 3 | Problem 4 Problem 5 Problem 6 + Normal View Ready Sum 57,600

Explanation / Answer

Ending Work in Process = Costs incurred for Job 3433

= $105000

Cost of Goods Manufactured = Costs incurred for completed Jobs 3411 and 3422

= $5000 + $13200

= $18200

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