Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. \begin{tabular}{lr} cost of completed job: & \

\begin{tabular}{lr} Cost of completed job: & \\ \hline Direct materials & $15,900 \\ Direct labor...

50.1K

Verified Solution

Question

Accounting

image
image
image
image
\begin{tabular}{lr} Cost of completed job: & \\ \hline Direct materials & $15,900 \\ Direct labor & 22,000 \\ Manufacturing overhead & 16,900 \end{tabular} (a) On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job? Balance in Work in Process Inventory on January 1 (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Round answers to 0 decimal places, e. 5 . 55\%.) (b) Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92 . (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 31 (To record factory labor used) 31 (To record manufacturing overhead) 31

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

Problems 3 are based on the following table which shows the stock market performance of...

Basic Math
Q

Are these two functions inverses of each other? How would you solve for one of these? f(n)=2(n-2)3 g(n)=4+cube...

Basic Math
Q

There are various limitations to employing the PE Ratio for company to company comparisons. Describe several...

Finance
Q

My roommate said her philosophy class was hard and the one I m in is...

Biology
Q

a QFour charge particles each having charge Q 1 c are fixed at the corners...

Physics
Q

The growth of a certain bacteria population can be modeled by the functionA(t) = 850e0.0649twhere...

Basic Math
Q

ng polar coordinates evaluate the integral R sin x y dA where R is the...

Calculus
Q

in 2025, pharaoh corporation earned sales revenues of $1334000 with related cost of goods sold...

Accounting
Q

Based on the information below, Tyco was involved in accounting frauds and violated accounting principles....

Accounting
Q

AP9-5 Computing Amounts for Bond Issue, and Comparing Amortization Methods (P9-8) Canadian Products Corporation manufactures...

Accounting
Q

In calculating insurance premiums, the actuarially fair insurance premium is the premium that results in...

Finance
Q

Caspian Sea Drinks is considering buying the J-Mix 2000. It will allow them to make...

Finance