Question: Garnett Printing Corp uses a job order cost system The followin

Garnett Printing Corp. uses a job order cost system.The following data summarize the operations related to the first quarter’s production.
1. Materials purchased on account $192,000, and factory wages incurred $87,300.
2. Materials requisitioned and factory labor used by job:


3. Manufacturing overhead costs incurred on account $39,500.
4. Depreciation on machinery and equipment $14,550.
5. Manufacturing overhead rate is 80% of direct labor cost.
6. Jobs completed during the quarter: A20, A21, and A23.

Instructions
Prepare entries to record the operations summarized above. (Prepare a schedule showing the individual cost elements and total cost for each job in item6.)
View Solution:


Sale on SolutionInn
Sales53
Views1800
Comments
  • CreatedSeptember 20, 2011
  • Files Included
Post your question
5000