|
Riverside Engineering is a machine shop that uses job order costing. Overhead is applied to individual jobs at a predetermined rate based on |
| JOB COST SHEET | |||
| JOB NUMBER: 321 | DATE STARTED: May 10 | ||
| PRODUCT: 2″ Brass Check Valves | DATE COMPLETED: May 21 | ||
| UNITS COMPLETED: 4000 | |||
| Direct materials used | $ | 7,700 | |
| Direct labor | 1,300 | ||
| Manufacturing overhead applied | 3,100 | ||
|
|
|
||
| Total cost of job no. 321 | $ | 12,100 | |
|
|
|
||
| Unit cost ($12,100 Af路 4,000 units) | $ | 3.03 | |
|
|
|
||
|
|
|||
| a. | Summarize the manufacturing costs charged to job no. 321. |
| b. | Record the completion of job no. 321. |
| c. | Record the credit sale of 2,100 units from job no. 321 at a unit sales price of $5. Record in a separate entry the related cost of goods sold. |
ScholarMatic: Explanation & Answer
Your ready answer from a verified tutor is just a click away for as little as $14.99
Click Order Now to get 100% Original Answer Customized to your instructions!
