Vidual jobs at King Tool is a machine shop that uses job order c8stlng. a predetermined rate based on direct labor costs. The following is a job cost sheet for job r Prepare general journal entries to: no. 321. 3, Order JOB COST SHEET DATE STARTED: May 10 321 JOB NUMBER: DATE COMPLETED: May 21 2" Brass Check Valves PRODUCT: 5,000 UNITS COMPLETED: Direct materials used $ 8,000 Direct labor. 2,600 Manufacturing overhead applied 9,400 Total cost of job no. 321 $20,000 Unit cost ($20,000 ÷ 5,000 units) $4 Summarize the manufacturing costs charged to job no. 321. (Use one compound entry.) b. Record the completion of job no. 321. a. с. Record the credit sale of 4,000 units from job no. 321 at a unit sales price of $10. Record a separate entry the related cost of goods sold.
Vidual jobs at King Tool is a machine shop that uses job order c8stlng. a predetermined rate based on direct labor costs. The following is a job cost sheet for job r Prepare general journal entries to: no. 321. 3, Order JOB COST SHEET DATE STARTED: May 10 321 JOB NUMBER: DATE COMPLETED: May 21 2" Brass Check Valves PRODUCT: 5,000 UNITS COMPLETED: Direct materials used $ 8,000 Direct labor. 2,600 Manufacturing overhead applied 9,400 Total cost of job no. 321 $20,000 Unit cost ($20,000 ÷ 5,000 units) $4 Summarize the manufacturing costs charged to job no. 321. (Use one compound entry.) b. Record the completion of job no. 321. a. с. Record the credit sale of 4,000 units from job no. 321 at a unit sales price of $10. Record a separate entry the related cost of goods sold.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
17.3
Transcribed Image Text:The FIHISIICU
e.
17-3,
Prepare general journal entries to:
ob Order
JOB COST SHEET
DATE STARTED:
May 10
321
JOB NUMBER:
2" Brass Check Valves
DATE COMPLETED:
May 21
PRODUCT:
5,000
UNITS COMPLETED:
Direct materials used
$ 8,000
Direct labor....
2,600
Manufacturing overhead applied
Total cost of job no. 321
9,400
$20,000
Unit cost ($20,000 ÷ 5,000 units)
$4
Summarize the manufacturing costs charged to job no. 321. (Use one compound entry.)
b. Record the completion of job no. 321.
а.
Record the credit sale of 4,000 units from job no. 321 at a unit sales price of $10. Record i
separate entry the related cost of goods sold.
с.
King Tool is a shop that uses job order costing. is to jobs at
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