Business, 16.06.2020 19:57 pinbunny70

Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $8,400, direct labor of $3,500, and applied overhead of $3,150. Custom Cabinetry applies overhead at the rate of 90% of direct labor cost. During July, Job 120 is sold (on account) for $26,500, Job 121 is started and completed, and Job 122 is started and still in process at the end of the month. Custom Cabinetry incurs the following costs during July. July Product Costs Job 120 Job 121 Job 122 Total
Direct Materials $1,500 $7,400 $4,000 $12,900
Direct Labor 3,800 3,800 2,800 10,400
Overhead Applied ? ? ? ?
1. Prepare journal entries for the following in July.
a. Direct materials used in production.
b. Direct labor used in production.
c. Overhead applied.
d. The sale of Job 120
e. cost of goods sold for Job 120
2. Compute the July 31 balances of the Work in Process Inventory and the Finished Goods Inventory general ledger accounts.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 03:30, levicorey846

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000. ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account. iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620. iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account. v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books. required: 1. prepare the journal entries to correct the errors. (narrations required) 14.5 marks 2. prepare the suspense account showing clearly the original trial balance error. 8 marks

Answers: 2

continue

Business, 22.06.2019 05:40, rafa3997

According to the philosopher immanuel kant, the right of employees to know the nature of the job they are being hired to do and the obligation of a company not to deceive them in this respect is mainly reflective of the basic right of . privac yb. free consentc. freedom of speechd. freedom of consciencee. first refusal

Answers: 1

continue

Business, 22.06.2019 07:00, kaishat1092

Need true or false 1 2 3 4 5 6 7 8

Answers: 1

continue

Business, 22.06.2019 12:20, laskew37221

Over the past decade, brands that were once available only to the wealthy have created more affordable product extensions, giving a far broader range of consumers a taste of the good life. jaguar, for instance, launched its x-type sedan, which starts at $30,000 and is meant for the "almost rich" consumer who aspires to live in luxury. by marketing to people who desire a luxurious lifestyle, jaguar is using:

Answers: 3

continue

You know the right answer?

Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet re...