TheComputation of Schedule of Cost of goods manufactured and cost of goods sold and Statement of Income earned related to production activitiesneed to be determined.

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Answer 1

Question

Chapter 3.A, Problem 5P

Preparation of schedule showing the cost of goods manufactured, cost of goods sold and statement of income earned describes the computation of schedule showing cost of goods manufactured, cost of goods sold and Statement of operating income earned for the production activities.

Requirement1:

To determine

TheComputation of Schedule of Cost of goods manufactured and cost of goods sold and Statement of Income earned related to production activitiesneed to be determined.

Requirement2:

To determine

The schedule of cost of goods manufactured.

Requirement3:

To determine

The Schedule of cost of goods sold.

Requirement4:

To determine

The Schedule showing the net income earned.

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Preparing and using a job cost record to prepare journal entries Ki Technology Co. manufactures DVDs for computer software and entertainment companies. Ki uses job order costing. On April 2, Ki began production of 6,000 DVDs, Job 423, for Paradigm Pictures for $1.20 sales price per DVD. Ki promised to deliver the DVDs to Paradigm Pictures by April 5. Ki incurred the following direct costs: Ki Technology allocates manufacturing overhead to jobs based on the relation between estimated overhead of $574,000 and estimated direct labor costs of job 423 was completed and shipped on April 3. Requirements Prepare a job cost record for job 423. Calculate the predetermined overhead allocation rate (round to two decimal places); then allocate manufacturing overhead to the job. Journalize in summary form the requisition of direct materials and the assignment of direct labor and the allocation of manufacturing overhead to job 423. Wages are not yet paid. Journalize completion of the job and the…

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Answer 2

Question

Chapter 3.A, Problem 5P

Preparation of schedule showing the cost of goods manufactured, cost of goods sold and statement of income earned describes the computation of schedule showing cost of goods manufactured, cost of goods sold and Statement of operating income earned for the production activities.

Requirement1:

To determine

TheComputation of Schedule of Cost of goods manufactured and cost of goods sold and Statement of Income earned related to production activitiesneed to be determined.

Requirement2:

To determine

The schedule of cost of goods manufactured.

Requirement3:

To determine

The Schedule of cost of goods sold.

Requirement4:

To determine

The Schedule showing the net income earned.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 3.A, Problem 5P

Preparation of schedule showing the cost of goods manufactured, cost of goods sold and statement of income earned describes the computation of schedule showing cost of goods manufactured, cost of goods sold and Statement of operating income earned for the production activities.

Requirement1:

To determine

TheComputation of Schedule of Cost of goods manufactured and cost of goods sold and Statement of Income earned related to production activitiesneed to be determined.

Requirement2:

To determine

The schedule of cost of goods manufactured.

Requirement3:

To determine

The Schedule of cost of goods sold.

Requirement4:

To determine

The Schedule showing the net income earned.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 3.A, Problem 5P

Preparation of schedule showing the cost of goods manufactured, cost of goods sold and statement of income earned describes the computation of schedule showing cost of goods manufactured, cost of goods sold and Statement of operating income earned for the production activities.

Requirement1:

To determine

TheComputation of Schedule of Cost of goods manufactured and cost of goods sold and Statement of Income earned related to production activitiesneed to be determined.

Requirement2:

To determine

The schedule of cost of goods manufactured.

Requirement3:

To determine

The Schedule of cost of goods sold.

Requirement4:

To determine

The Schedule showing the net income earned.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 3.A, Problem 5P

Preparation of schedule showing the cost of goods manufactured, cost of goods sold and statement of income earned describes the computation of schedule showing cost of goods manufactured, cost of goods sold and Statement of operating income earned for the production activities.

Requirement1:

To determine

TheComputation of Schedule of Cost of goods manufactured and cost of goods sold and Statement of Income earned related to production activitiesneed to be determined.

Requirement2:

To determine

The schedule of cost of goods manufactured.

Requirement3:

To determine

The Schedule of cost of goods sold.

Requirement4:

To determine

The Schedule showing the net income earned.

Answer 6

Chapter 3.A, Problem 5P

Preparation of schedule showing the cost of goods manufactured, cost of goods sold and statement of income earned describes the computation of schedule showing cost of goods manufactured, cost of goods sold and Statement of operating income earned for the production activities.

Requirement1:

To determine

TheComputation of Schedule of Cost of goods manufactured and cost of goods sold and Statement of Income earned related to production activitiesneed to be determined.

Answer 7

Chapter 3.A, Problem 5P

Preparation of schedule showing the cost of goods manufactured, cost of goods sold and statement of income earned describes the computation of schedule showing cost of goods manufactured, cost of goods sold and Statement of operating income earned for the production activities.

Requirement1:

To determine