Accnteg inal n/s riday Chnstophor Bartlom Chapter 19 Job Order Costing 827 The f

Question

Accnteg inal n/s riday Chnstophor Bartlom Chapter 19 Job Order Costing 827 The followin products and uses a job order costing system. Cost flows in a job order costing system PI P2 P3 P4 April 30 May 31 Inventories Raw materials Work in process Finished goods $43,000 52,000 10,200 63,000 35.600 21,300 Activities and information for May 210.000 Raw materials Factory payroll (paid with cash) Factory overhead purchases (paid with cash) 345.000 5,000 20,000 Indirect materials Indirect labor Other overhead costs 70% Predetermined 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 overhead. Journal entries for n information in Exercise 19-7 to prepare journal entries for the following events for the month of May. Exercise 19-8

Explanation / Answer

Exercise 19-10

Exercise 19-11

Workings:

Transaction Account Titles and Explanation Debit Credit 1 Factory overhead 120000 Other Accounts 120000 (To record other overhead costs incurred) 2 Work in process 185500 Factory overhead 185500 (To record factory overhead applied)

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

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