Directions:
After reading the scenario, complete the task below the scenario.
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Scenario:
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Just4U Company uses a job order cost system. The following data summarize the operations related to production for the month of January 20xx.
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a) Materials purchased on account:Â Â Â Â $150,000
b) Materials requisitioned and Factory labor used:
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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
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c) Factory overhead costs incurred on account:Â Â Â Â Â Â Â Â Â $34,500
d) Depreciation of machinery and equipment: $5,100
e) The factory overhead rate is $50 per machine hour.
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Job Order
Machine Hours Used
601
320
602
225
603
300
604
285
605
312
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f) Jobs completed:Â Â Â Â Â Â #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- Â DETERMINE GROSS PROFIT for the month
Answers
Status NEW
Posted 20 Jun 2017 01:06 AM
My Price 7.00
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Attachments
file 1497923049-Solutions file.docx preview (56 words )
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