Vaughan Company uses a Job Order Cost system to account for its production. An examination...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Vaughan Company uses a Job Order Cost system to account for its production. An examination of its ledger accounts at the end of the year show the following: (note: FOH is applied based on DL$) Raw Materials Iny bb 20 160 WIP Inventory bb 10 ? DM ? DL 170 FOH 85 90 10 Wages Payable 190 ? FG Inventory bb o 270 320 50 FOH CGS bb 0 85 bb 0 ? 90 5 1. The amount of indirect material used this year is (do not use a dollar sign, only numbers!) 2. The Cost of Goods Manufactured this year is . (do not use a dollar sign, only numbers!) 3. Sales this year were $400 and Selling & Administrative expenses were $70. Vaughan Company's net income is (do not use a dollar sign, only numbers! 4. During the year Job #24 was started and completed. The direct materials used for this job were $30 and the direct labor used was $40. The job order cost sheet for this job will show a total cost of (do not use a dollar sign, only numbers
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!
