Job cost sheets show the following information: Job AA2 AA4 AA5 3,240 AA3 3,410 Total $7,440 $7,750 What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for January, February, and March? Work in Process January February March Completed $1,100 January February March $2,600 4,840 2,600 3,410 ✔ February January February $2,319 April $2,319 Finished Goods Sold Not sold February March Not sold COGS

Basil and Ben are in partnership sharing profits and losses in the ratio 3 : 2. Basil receives an annual salary of $12 000. The firm’s net profit for the year was $52 000. How much would be credited to the current account of each partner after all appropriations? Basil current account                       Ben current account                           $                                                 $ A                      26 000                                    26 000 B                     31 200                                     20 800 C                     36 000                                     16 000 D                     24 000                                     16 000

Job Costs Using Activity-Based Costing Heitger Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Heitger identified three overhead activities and related drivers. Budgeted information for the year is as follows: Activity Cost    Driver Amount of Driver Materials handling $ 72,000      Number of moves 3,000     Engineering 165,000      Number of change orders 10,000     Other overhead 280,000      Direct labor hours 50,000     Heitger worked on four jobs in July. Data are as follows:   Job 13-43 Job 13-44 Job 13-45 Job 13-46 Beginning balance $20,300 $19,800 $2,300 $0 Direct materials $6,500 $8,900 $12,700 $9,800 Direct labor cost $18,000 $20,000 $32,000 $2,400   Job 13-43 Job 13-44 Job 13-45 Job 13-46 Number of moves 44 52 29 5 Number of change orders 30 40 20 20 Direct labor hours 900 1,000 1,600 120 By July 31, Jobs 13-43 and 13-44 were completed and sold. Jobs 13-45 and 13-46 were still in process.…

The journal entry to record the Labor Time Tickets includes a debit to the Manufacturing Overhead account of what dollar amount? Materials Labor Requisition Time For Slips Tickets Job No. 429 $ 3,500 $ 4,400 Job No. 430 2,600 3,400 Job No. 431 3,400 4,200 Job No. 432 3,000 4,000 Sub-Total 12,500 16,000 General Use 1,000 1,500 Total Cost $ 13,500 17,500 $17,500 $1,500 $16,000 $13,500

Compute the ending balance of the Work-in-Process Inventory account for July.           Job X14 Job X15 Total Direct materials $35,420 $14,700 $50,120 Direct labor 105,000 69,000 174,000 Applied overhead

Entry for Factory Labor Costs The weekly time tickets indicate the following distribution of labor hours for three direct labor employees:   Hours   Job 301 Job 302 Job 303 ProcessImprovement Tom Couro 23   10   9   5   David Clancy 13   13   13   3   Jose Cano 13   17   10   4   The direct labor rate earned per hour by the three employees is as follows: Tom Couro $18 David Clancy 25 Jose Cano 21 The process improvement category includes training, quality improvement, and other indirect tasks. a. Journalize the entry to record the factory labor costs for the week. If an amount box does not require an entry, leave it blank.     Work in Process Work in Process     Factory Overhead Factory Overhead     Wages Payable Wages Payable     Feedback b. Assume that Jobs 301 and 302 were completed but not sold during the week and that Job 303 remained incomplete at the end of the week. How would the direct labor costs for all three jobs be…

Predetermined Factory Overhead Rate Turbo Shop uses job order costing to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts $400,000 Shop direct labor 1,992,000 Shop and repair equipment depreciation 64,220 Shop supervisor salaries 210,000 Shop property taxes 57,390 Shop supplies 14,500 32,000 230,000 12,000 $3,012,110 Advertising expense Administrative office salaries Administrative office depreciation expense Total costs and expenses The average shop direct labor rate is $40.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent.

! Required information [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. Job 7 $ 27,800 22,600 11,300 At June 30 Direct materials Direct labor Overhead applied Additional Information Job 5 $ 16,600 9,600 4,800 Job 6 $ 33,800 15,800 7,900 a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $6,800; direct labor, $2,600; and applied overhead, $1,700. Job 5 was finished in June. b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. Direct labor used in June 2. What is the total cost of direct labor used in June?

The following information requisitions are identified Job 9 is $1,400. Date Date July 1 July 1 Amount $ 1,800 1,150 1,550 July 5 July 5 July 10 1,000 850 Prepare a job cost sheet for Job 9, which includes costs for direct materials, direct labor, overhead, and total cost. Document M-46 July 1 July 5 July 10 T-33 M-47 T-34 T-35 is from the materials requisitions and time tickets for Job 9 completed by Great Bay Boats. Materials by code numbers starting with the letter M, and the time tickets start with T. Estimated (applied) overhead for Direct Materials Requisition Number Amount JOB COST SHEET: Job 9 Direct Labor Time-Ticket Number Amount Overhead Date July Amount Total Cost

Online i A company uses a job-order costing system and has provided the following partially completed T-account summary for the past year. Bal. 1/1 Debits Bal. 12/31 Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Raw Materials. 13,000 Credits 87,000 30,000 Work In Process 19,000 Credits 50,000 13,000 257,000 ? ? 506,000 The cost of indirect materials requisitioned for use in production during the year was: