Work in Process Materials (a) (d) (a) (b) (c) Finished Goods Wages Payable (d) (e) (b) Cost of Goods Sold Factory Overhead (e) (a) (b) (c) Describe each of the five transactions.

Use the dates above to identify the status of each job. Compute the following balances for Thrifty​: a.​ Work-in-Process Inventory at August 31 b. Finished Goods Inventory at August 31 c. Cost of Goods Sold for

The predetermined overhead allocation rate for a given accounting period is calculated ________ Group of answer choices before the accounting period begins before the commencement of each job during the accounting period at the end of the accounting period after the completion of each job during the accounting period

Assume it is the beginning of the month, using the estimates and a job-order costing system, what price would you recommend Lina quote for each of the above two jobs to ensure profitability in the long term?   2. Assume it is the end of the month, determine the amount of under- or over-applied overhead and recommend to Lina how the amount should be accounted for.   3. Prepare a schedule of cost of goods manufactured for the month - these were the only two jobs started and sold (zero beginning and ending work-in-process inventory). Assume that actual materials used and the labour rate/hours are the same as estimated. Hint: refer to Exhibit 5.11 on page 213 of text for suggested format.

a. Prepare the entry to record the factory labor costs for the month of January. b. Prepare the entry to assign factory labor to production. E15.2 (LO 1, 2, 3, 4), AP Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May, a summary of source documents reveals the following. intuom Materials Requisition Slips bo FU 1 Job Number 429 430 431 to General use To $2,500 3,500 4,400 $10,400 800 $11,200 10 $12,500 1,200 $13,700 25 gan 15100 Stine Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 429 is completed during the month. 1200 how W $1,900 3,000 7,600 Labor Time Tickets S ACE2 out 2013 Instructions a. Prepare 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. b. Post…

Prepare the journal entry to record the factory wages of $14,000 incurred for a single production department assuming payment will be made in the next pay period. If an amount box does not require an entry, leave it blank. Work in Process Wages Payable X X