EBK ACCOUNTING PRINCIPLES
13th Edition
ISBN: 9781119411017
Author: Weygandt
Publisher: WILEY
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Chapter 20, Problem 9E
a.
To determine
Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.
To prepare: The cost of goods manufactured schedule.
b.
To determine
Job order costing:
Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.
To prepare: Income statement.
c.
To determine
Job order costing:
Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.
To show: Manufacturing inventories in the
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The following information is available for the Turner Manufacturing company for 2020.
E (Click the icon to view the information.)
Requirement
Assume that all raw materials are purchased on credit and all sales
Data table
Accounts receivable, January 1, 2020
$
160,000
Accounts payable, January 1, 2020
Accounts receivable, January 1, 2020
160,000
Raw materials, January 1, 2020
12,000
Accounts payable, January 1, 2020
104,000
Work in process, January 1, 2020
20,000
Raw materials, January 1, 2020
12,000
Finished goods, January 1, 2020
70,000
Work in process, January 1, 2020
20,000
Accounts receivable, December 31,
2020
90,000
Finished goods, January 1, 2020
70,000
Accounts payable, December 31, 2020
240,000
Accounts receivable, December 31, 2020
90,000
Raw materials, December 31, 2020
?
Accounts payable, December 31, 2020
240,000
Work in process, December 31, 2020
57,000
Raw materials, December 31, 2020
72,000
Finished goods, December 31, 2020
54,000
Work in process, December 31, 2020…
At May 31, 2020, the account of Vaugh Company show the following.
1. May 1 Inventories-finished goods $14,300, work in process $15,100 and raw materials $8,900.
2. May 31 inventories-finished goods $9,600, work in process $16,100, and raw materials $7,600.
3. Debit posting to work in process were direct materials $62,800, direct labor $53,100, and manufacturing overhead applied $42,300. (Assume that overhead applied was equal to overhead incurred)
4. Sales revenue totaled $216,200
Prepare a condensed cost of goods manufactured schedule.
A manufacturing company shows the following amounts in the cost of goods sold
statement and the statement of comprehensive income for the year 2019
January 1. 2019.
P 100,000
December 31. 2019
P 150,000
87,000
Materinis
Work in process
Finished goods
Materials used
80,000
Cost of goods sold
Cost of goods manufactured
Total manufacturing costs
590,000
750,000
800,000
790,000
Required:
1. Work in process, January 1, 2019
2. Finished goods, December 31, 2019
3. Amount of materials purchased in 2019
Chapter 20 Solutions
EBK ACCOUNTING PRINCIPLES
Ch. 20 - Prob. 1QCh. 20 - Prob. 2QCh. 20 - Prob. 3QCh. 20 - Prob. 4QCh. 20 - Prob. 5QCh. 20 - Prob. 6QCh. 20 - Prob. 7QCh. 20 - Prob. 8QCh. 20 - Prob. 9QCh. 20 - Prob. 10Q
Ch. 20 - Prob. 11QCh. 20 - Prob. 12QCh. 20 - Prob. 13QCh. 20 - Prob. 14QCh. 20 - Prob. 15QCh. 20 - Prob. 16QCh. 20 - Prob. 17QCh. 20 - Prob. 18QCh. 20 - Prob. 1BECh. 20 - Prob. 2BECh. 20 - Prob. 3BECh. 20 - Prob. 4BECh. 20 - BE20-5 Data pertaining to job cost sheets for...Ch. 20 - Prob. 6BECh. 20 - Prob. 7BECh. 20 - Prob. 8BECh. 20 - Prob. 9BECh. 20 - Prob. 10BECh. 20 - Prob. 1DIECh. 20 - Prob. 2DIECh. 20 - Prob. 3DIECh. 20 - Prob. 4DIECh. 20 - Prob. 5DIECh. 20 - Prob. 1ECh. 20 - E20-2 Stine Company uses a job order cost system....Ch. 20 - Prob. 3ECh. 20 - Prob. 4ECh. 20 - Prob. 5ECh. 20 - Prob. 6ECh. 20 - Prob. 7ECh. 20 - Prob. 8ECh. 20 - Prob. 9ECh. 20 - Prob. 10ECh. 20 - Prob. 11ECh. 20 - Prob. 12ECh. 20 - Prob. 13ECh. 20 - Prob. 1PSACh. 20 - Prob. 2PSACh. 20 - Prob. 3PSACh. 20 - Prob. 4PSACh. 20 - Prob. 1EYCTCh. 20 - Prob. 2EYCTCh. 20 - Prob. 3EYCTCh. 20 - Prob. 4EYCTCh. 20 - Prob. 5EYCTCh. 20 - Prob. 7EYCT
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