t.nal 2/ iday s Fida Chapter 19 Job Order Costing 827 The following information

Question

t.nal 2/ iday s Fida Chapter 19 Job Order Costing 827 The following information is available for products and uses a job order costings which produces special-order security Exercise 19-7 Cost flows in a job order costing system April 30 May 31 P1 P2 P3 P4 Raw materials Work in process . Finished goods . . . . $43,000 s $2.000 10.200 21,300 35,600 63,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) . . . Factory overhead 120,000 70% Predetermined overhead rate based on direct labor cost Compute the following amounts for the month of May. 1. Cost of direct materials used. 2. Cost of direct labor used. 3. Cost of goods manufactured. 4. Cost of goods sold. 5. Gross profit. 6. Overapplied or underapplied overhead Do not consider any underapplied or overapplied overhcad. Check (3) $625 Journal entries for Ise information in Exercise 19-7 to prepare journal entries for the following events for the month of May. Exercise 19-8

Explanation / Answer

Problem 19.8 1 Raw Materials Inventory 2,10,000       Accounts Payable 2,10,000 2 Work-in-Process Inventory 1,95,000       Raw Materials Inventory (210000-15000) 1,95,000 3 Factory Overhead 15000       Raw Materials Inventory 15000 Problem 19.9 1 Factory Payroll 345000 Cash 345000 2 Work-in-Process Inventory 265000 Factory Payroll (345000-80000) 265000 3 Factory Overhead 80000 Factory Payroll 80000

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.