Business, 19.09.2019 00:10 amclinger4734
Phillips corporation’s fiscal year ends on november 30. the following accounts are found in its job order cost accounting system for the first month of the new fiscal year. other data: 1. on december 1, two jobs were in process: job no. 154 and job no. 155. these jobs had combined direct materials costs of $9,750 and direct labor costs of $15,000. overhead was applied at a rate that was 75% of direct labor cost.2. during december, job nos. 156, 157, and 158 were started. on december 31, job no. 158 was unfinished. this job had charges for direct materials $3,800 and direct labor $4,800, plus manufacturing overhead. all jobs, except for job no. 158, were completed in december.3. on december 1, job no. 153 was in the finished goods warehouse. it had a total cost of $5,000. on december 31, job no. 157 was the only job finished that was not sold. it had a cost of $4,000.4. manufacturing overhead was $1,470 underapplied in december. list the letters (a) through (m) and indicate the amount pertaining to each letter. raw materials inventorydec. 1 beginning balance problem 20-5a phillips corporation’s fiscal year e (a) dec. 31 requisitions 16,850 31 purchases 17,225 dec. 31 ending balance 7,975 work in process inventorydec. 1 beginning balance problem 20-5a phillips corporation’s fiscal year e (b) dec. 31 jobs completed problem 20-5a phillips corporation’s fiscal year e (f)31 direct materials problem 20-5a phillips corporation’s fiscal year e (c) 31 direct labor 8,400 31 overhead problem 20-5a phillips corporation’s fiscal year e (d) dec. 31 ending balance problem 20-5a phillips corporation’s fiscal year e (e) finished goods inventorydec. 1 beginning balance problem 20-5a phillips corporation’s fiscal year e (g) dec. 31 cost of goods sold problem 20-5a phillips corporation’s fiscal year e (i)31 completed jobs problem 20-5a phillips corporation’s fiscal year e (h) dec. 31 ending balance problem 20-5a phillips corporation’s fiscal year e (j) factory labor dec. 31 factory wages 12,025 dec. 31 wages assigned problem 20-5a phillips corporation’s fiscal year e (k)manufacturing overheaddec. 31 indirect materials 2,900 dec. 31 overhead applied problem 20-5a phillips corporation’s fiscal year e (m)31 indirect labor problem 20-5a phillips corporation’s fiscal year e (l) 31 other overhead 1,245
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Phillips corporation’s fiscal year ends on november 30. the following accounts are found in its job...
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