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Category > Accounting Posted 20 Jun 2017 My Price 7.00

ASSIGNMENT 7 JOB ORDER COSTING

ASSIGNMENT 7 JOB ORDER COSTING
Directions:
After reading the scenario, complete the task below the scenario.
Scenario:
Just4U Company uses a job order cost system. The following data summarize the operations
related to production for the month of January 20xx.
a) Materials purchased on account: $150,000 b) Materials requisitioned and Factory labor used:
JOB ORDER MATERIALS LABOR 601 $32,400 $19,300 602 $21,300 $15,200 603 $28,400 $17,500 604 $26,308 $16,395 605 $31,225 $18,422 General Factory Use $5,300 $32,400 c) Factory overhead costs incurred on account: $34,500 d) Depreciation of machinery and equipment: $5,100 e) The factory overhead rate is $50 per machine hour.
Job Order Machine Hours Used 601 320 602 225 603 300 604 285 605 312 f) Jobs completed: #601, #603, #605 g) Jobs shipped and billed: #603: $123,200, #605: $88,350
Task:
1-Prepare the proper t-accounts and show the balances of each account 2- DETERMINE GROSS PROFIT for the month

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SuperTutor
(15)
Status NEW Posted 20 Jun 2017 01:06 AM My Price 7.00

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