Business, 20.02.2020 22:47 danielahumajova6
Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories. dollar 94,000 in raw materials were purchased for cash. dollar 89,000 in raw materials were requisitioned for use in production. Of this amount, dollar 78,000 was for direct materials and the remainder was for indirect materials. Total labor wages of dollar 132,000 were incurred and paid. Of this amount, dollar 112,000 was for direct labor and the remainder was for indirect labor. Additional manufacturing overhead costs of dollar 143,000 were incurred and paid. Manufacturing overhead costs of dollar 152,000 were applied to jobs using the company's predetermined overhead rate. All of the jobs in progress at the end of the month were completed and shipped to customers. Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Post the above transactions to T-accounts. Determine the cost of goods sold for the period.
Answers: 3
Business, 22.06.2019 08:40
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Mno corporation uses a job-order costing system with a predetermined overhead rate based on direct labor-hours. the company based its predetermined overhead rate for the current year on the following data: total estimated direct labor-hours 50,000 total estimated fixed manufacturing overhead cost $ 285,000 estimated variable manufacturing overhead per direct labor-hour $ 3.80 recently, job p123 was completed with the following characteristics: total actual direct labor-hours 20 direct materials $ 710 direct labor cost $ 500 the amount of overhead applied to job p123 is closest to:
Answers: 2
Jurvin Enterprises recorded the following transactions for the just completed month. The company had...
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