Business, 25.02.2020 05:24, pumkinsrck1840
Yurman Inc. uses a job-order costing system. During the month of May, the following transactions occurred: May 1 Purchased materials on account for $29,670. 3 Requisitioned materials totaling $24,500 for use in production. Of the total, $9,200 was for Job 58, $8,900 for Job 59, and the remainder for Job 60. 31 Incurred direct labor for the month of $32,400, with an average wage of $18 per hour. Job 58 used 800 hours; Job 59, 600 hours; and Job 60, 400 hours. 31 Incurred and paid actual overhead of $17,880 (credit Various Payables). 31 Charged overhead to production at the rate of $4.80 per direct labor hour. 31 Completed and transferred Jobs 58 and 59 to Finished Goods. 31 Sold Job 57 (see beginning balance of Finished Goods) and Job 58 to their respective clients on account for a price of cost plus 40%. Beginning balances as of May 1 were: Materials $2,300 Work in Process 0 Finished Goods (Job 57) 25,600Required:1. Prepare journal entries for transactions from May 1 through 31.2. Prepare brief job-order cost sheets for Jobs 58, 59, and 60.3. Calculate the ending balance of Raw Materials.4. Calculate the ending balance of Work in Process.5. Calculate the ending balance of Finished Goods.
Answers: 2
Business, 21.06.2019 21:00, skifchaofficial01
Stephen barrett, md previous writing experience ?
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Business, 22.06.2019 11:20, leshayellis1591
Lusk corporation produces and sells 14,300 units of product x each month. the selling price of product x is $25 per unit, and variable expenses are $19 per unit. a study has been made concerning whether product x should be discontinued. the study shows that $72,000 of the $102,000 in monthly fixed expenses charged to product x would not be avoidable even if the product was discontinued. if product x is discontinued, the annual financial advantage (disadvantage) for the company of eliminating this product should be:
Answers: 1
Yurman Inc. uses a job-order costing system. During the month of May, the following transactions occ...
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