Problem 14-3B Exercise 15-9 Exercise 15-12 Problem 15-3BArjuna
Indicate the missing amount of different cost items, and prepare a condensed cost of goods manufactured schedule, an income statement, and a partial balance sheet.
Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.
Prepare a cost of goods manufactured schedule and partial financial statements.
At May 31, 2012, the accounts of Mantle Manufacturing Company show the following.
Determine cost of jobs and ending balance in work in process and overhead accounts.
Don Lieberman and Associates, a CPA firm, uses job order costing to capture the costs of its audit jobs. There were no audit jobs in process at the beginning of November. Listed below are data concerning the three audit jobs conducted during November.
Overhead costs are applied to jobs on the basis of auditor hours, and the predetermined overhead rate is $50 per auditor hour. The Lynn job is the only incomplete job at the end of November. Actual overhead for the month was $11,000.
Prepare entries in a job order cost system and cost of goods manufactured schedule.
Robert Perez is a contractor specializing in custom-built jacuzzis. On May 1, 2012, his ledger contains the following data.
The Manufacturing Overhead account has debit totals of $12,500 and credit totals of $10,000. Subsidiary data for Work in Process Inventory on May 1 include:
During May, the following costs were incurred: raw materials purchased on account $4,000, labor paid $7,000, and manufacturing overhead paid $1,400.
A summary of materials requisition slips and time tickets for the month of May reveals the following.
Overhead was charged to jobs on the basis of $0.70 per dollar of direct labor cost. The jacuzzis for customers Stiner, Alton, and Herman were completed during May. The three jacuzzis were sold for a total of $36,000.
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