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    Argosy University/ Phoniex University/
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    Phoniex University
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Category > Accounting Posted 24 Sep 2017 My Price 8.00

Bell Company

Bell Company's fiscal year ends on June 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year.

 

 

 

 

 

Raw Materials Inventory

 

 

1-Jul

 

 

Beginning balance

 

 

19,000

 

 

31-Jul

 

 

Requisitions

 

 

(a)

 

 

31

 

 

Purchases

 

 

90,400

 

 

      

31-Jul

 

 

Ending balance

 

 

(b)

 

 

      
           

Work in Process Inventory

 

 

1-Jul

 

 

Beginning balance

 

 

(c)

 

 

31-Jul

 

 

Jobs completed

 

 

(f)

 

 

31

 

 

Direct materials

 

 

80,000

 

 

      

31

 

 

Direct labor

 

 

(d)

 

 

      

31

 

 

Overhead

 

 

(e)

 

 

      

31-Jul

 

 

Ending balance

 

 

(g)

 

 

      
           

Finished Goods Inventory

 

 

1-Jul

 

 

Beginning balance

 

 

(h)

 

 

31-Jul

 

 

Cost of goods sold

 

 

(j)

 

 

31

 

 

Completed jobs

 

 

(i)

 

 

      

31-Jul

 

 

Ending balance

 

 

(k)

 

 

      
           

Factory Labor

 

 

31-Jul

 

 

Factory wages

 

 

(l)

 

 

31-Jul

 

 

Wages assigned

 

 

(m)

 

 
           
 

Manufacturing Overhead

 

 

        

31-Jul

 

 

Indirect materials

 

 

8,900

 

 

31-Jul

 

 

Overhead applied

 

 

117,000

 

 

31

 

 

Indirect labor

 

 

16,000

 

 

      

31

 

 

Other overhead

 

 

(n)

 

 

      

Other data:

 

 

1. On July 1, two jobs were in process: Job No. 4085 and Job No. 4086, with costs of $19,000 and $8,200, respectively.

 

 

2. During July, Job Nos. 4087, 4088, and 4089 were started. On July 31, only Job No. 4089 was unfinished. This job had charges for direct materials $2,000 and direct labor $1,500, plus manufacturing overhead. Manufacturing overhead was applied at the rate of 130% of direct labor cost.

 

 

3. On July 1, Job No. 4084, costing $145,000, was in the finished goods warehouse. On July 31, Job No. 4088, costing $138,000, was in finished goods.

 

 

4. Overhead was $3,000 under applied in July.

 

 

Instructions

 

 

List the letters (a) through (n) and indicate the amount pertaining to each letter. Show computations.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Sep 2017 08:09 PM My Price 8.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

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