Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 02 Aug 2017 My Price 12.00

Smith Die Company

`

Problem P2-3 Job-Order Costing: Inventory Accounts and Cost of Goods Sold
Smith Die Company manufactures cutting dies for the shoe industry. Each set of dies is custom designed to a customer's templates. During the first week of May, six orders were received from customers. They were assigned job numbers 1005-1010. The following transactions occurred during the first week of May.
Received shipment of steel from Eastern City Steel costing $5,000  
Received and paid for supplies (indirect materials) from Mallard Supply costing $2,300  
Material requisitions indicated that materials were issued to the factory floor as follows:
  Job Number: Direct Materials: Indirect Materials:  
  1005 $600    
  1006 800    
  1007 1,500    
  1008 600    
  1009 400    
  1010 300    
  Totals $4,200 $800  
The labor time ticket summary reflected the following costs for the week:
  Job Number: Direct Labor: Indirect Labor:  
  1005 $1,500    
  1006 1,900    
  1007 3,200    
  1008 1,300    
  1009 800    
  1010 600    
  Totals $9,300 $6,400  
Overhead was applied to all jobs in process at 180% of direct labor cost. Jobs 1005, 1006, 1007, and
1008 were completed and transferred to finished goods. Jobs 1009 and 1010 were still in process at the end of the week.
Jobs 1005, 1006, 1007 and 1008 were shipped to customers and billed at 150% of total job cost.
 
Required:
Part a. Calculate the total cost of each job.
  Cost of Jobs:  
  1005 1006 1007 1008 1009 1010  
Material Amount Amount Amount Amount Amount Amount  
Labor Amount Amount Amount Amount Amount Amount  
Overhead Amount Amount Amount Amount Amount Amount  
Total Formula Formula Formula Formula Formula Formula  
 
Part b. Prepare journal entries to record the above information.
 
  Account Title Amount    
Account Title   Amount
Text line
 
  Account Title Amount    
Account Title   Amount
Text line
 
  Account Title Amount    
Account Title Amount  
Account Title   Amount
Text Line
 
  Account Title Amount    
Account Title Amount  
Account Title   Amount
Text Line
 
  Account Title Amount    
Account Title   Amount
Text line
 
  Account Title Amount    
Account Title   Amount
Text line
 
  Account Title Amount    
Account Title Amount  
Account Title   Amount
Account Title   Amount
Text line

 

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Aug 2017 10:08 AM My Price 12.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------sol-----------uti-----------on.-----------Ple-----------ase----------- pi-----------ng -----------me -----------on -----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be----------- ca-----------tch-----------

Not Rated(0)
Relevent Questions