Sandhill Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,200 and two jobs in process: Job No. 429 $2,400, and Job No. 430 $1,800. During May, a summary of source documents reveals the following. Job Number 429 430 431 General use Part 1 No. (1) (3) (4) Date May 31 31 Materials Requisition Slips 31 $3,000 31 4,200 Sandhill Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 429 is completed during the month 5,320 $12,520 1,040 Prepare May 31 summary journal entries to record (1) the requisition slips, (2) the time tickets, (3) the assignment of manufacturing overhead to jobs, and (4) the completion of Job No. 429. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) $13,560 Labor Time Tickets $2,320 3,600 9,100 $15,020 1,360 Account Titles and Explanation $16,380 Debit Credit ▶

Which of the following would probably properly classified as a step cost with respect to the volume of production ?   Depreciation computed on an annual basis Total salaries paid to quality -control inspectors Real estate taxes President of the company's salary

Flounder Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used (a) Compute cost of goods manufactured. $108,000 Cost of goods manufactured $ 54,000 6,750 99,000 20,900 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $40,500 12,700 18,800 Work in process inventory was $10,850 at January 1 and $13,900 at December 31. Finished goods inventory was $54,000 at January 1 and $41,000 at December 31. 31,500 45,000

A-Compute cost of goods manufactured. B- Compute cost of goods Sold.   Complete both A and B

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What affect would closing an OVERAPPLIED Manufacturing Overhead account to Cost of Goods Sold have on the accounting records? Group of answer choices A. Cost of Goods Sold would increase B. Net Income would decrease C. Cost of Goods Sold would decrease Both A & B

Indirect materials used Depreciation on delivery equipment Dispatcher's salary Property taxes on office building CEO's salary Gas and oil for delivery trucks Delivery service (product) costs $ Period costs $6,940 LA 12,040 5,400 980 12,960 2,320 Drivers' salaries Advertising Delivery equipment repairs Office supplies Determine the total amount of (a) delivery service (product) costs and (b) period costs. Office utilities Repairs on office equipment $17,280 5,080 324 702 1,080 206