Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. a jub order cost slueet for michaels company is

1. A jub order cost slueet for Michaels company is shown below. Job No. 92...

80.2K

Verified Solution

Question

Accounting

image
1. A jub order cost slueet for Michaels company is shown below. Job No. 92 Direct Materials 3,925 6,000 Direct Labor 6,000 For 2,000 Units Manufacturing Overhead 4,200 Date Beg. bal. Jan. 1 8 12 25 8,500 6,375 2,000 4,000 18,500 3,000 13,575 11,925 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($44,000 + 2,000) $11,925 18,500 13,575 $44,000 $ 22.00 Instructions (a) Answer the following questions. (1) What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job? (2) If manufacturing overhead is applied on the basis of direct labor cost, what over head rate was used in each year? (b) Prepare summary entries at January 31 to record the current year's transactions per taining to Job No. 92

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

One litre of oxygen containing 1 argon is passed over heated copper and heated magnesium...

Physics
Q

DAB Standard 6 contains requirements for the physical set-up of the laboratory facility. Access to the laboratory...

Biology
Q

Alan stands on a sharp object at home causing sharp pain in his foot. His knee...

Medical Sciences
Q

First, think back to my discussion of the social construction of reality and, specifically, my discussion...

Psychology
Q

A) Body mass index (BMI) in children is approximately normally distributed with a mean of 24.5...

Basic Math
Q

a Cartesion equation for r 6c050 Graph it

Calculus
Q

British Columbia employees must receive ___ as vacation after 5 years of service....

Accounting
Q

Accounting is an information system that identifies, records, and communicates the economic events of an...

Accounting
Q

Question 1: True or False : Separate reports on internal control over financial reporting must...

Accounting
Q

Net sales revenue, net income, and common stockholders' equily for Eyesight Mission Corporation, a manufacturer...

Accounting
Q

Kyanite Corporation, a manufacturer, reports costs for the year as follows: Direct Materials Used 765,...

Accounting
Q

On January 15, 2021, Concord Company enters into a contract to build custom equipment for...

Accounting