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Category > Accounting Posted 25 May 2017 My Price 8.00

The Stamping Department accepted Job 051507A on May 15th to make 1,000 funnels

 

The Stamping Department accepted Job 051507A on May 15th to make 1,000 funnels. To complete the job they drew 1,100 sheets at $1.20 per sheet and 1,150 grommets at $0.15 per set. The driver that the Stamping Department uses is drop-forge strokes which are counted on a machine mounted counter. $375.00 is applied to each job as overhead due to setup and teardown and $2.25 is applied as overhead for each drop-forge stroke. Direct labor is applied at $22.50 per hour for the machine operator and $11.10 for the machine loader. The job required 6 1/2 hours of labor by the team. When the job was complete Job 051507A was transferred to SFGI (Semi-finished Goods Inventory). When the job was transferred, 20 sheets were returned unused to raw material inventory, 75 grommet sets were returned, and there were 1,115 strokes on the counter. Journalize all events depicted as of May 15th. Show all journal entries and calculations.

 
 

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(8)
Status NEW Posted 25 May 2017 09:05 AM My Price 8.00

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Attachments

file 1495706401-436785_1_636312034768034230_Job-costing-journal.xlsx preview (281 words )
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