accounting

Project Description:

analyzing manufacturing cost accounts
jagger and richards company manufactures custom guitars in a wide variety of styles. the following incomplete ledger accounts refer to transactions that are summarized for october:

in addition, the following information is available:
materials and direct labor were applied to six jobs in october:

factory overhead is applied to each job at a rate of 60% of direct labor cost.
the october work in process balance consisted of two jobs, as follows:

customer jobs completed and units sold in october were as follows:

instructions:
1. determine the missing amounts associated with each letter by completing the table below. if an amount is zero, enter in "0". enter all amounts as positive numbers.
job no. style quan-
tity oct. 1
work in
process direct materials direct labor factory overhead total cost unit cost units sold cost of goods sold
no. 101 x-1 150 $ $37,500 $27,000 $ $ $ $
no. 102 x-3 175 48,000 33,000
no. 103 x-2 225 60,000 50,000
no. 104 s-1 175 30,000 18,000
no. 105 s-2 300 54,000 30,000
no. 106 x-4 150 30,000 14,000
total 1,175 $ $259,500 $172,000 $ $ $
a. $
b. $
c. $
d. $
e. $
f. $
g. $
h. $
2. determine the october 31 balances for each of the inventory accounts and factory overhead.
materials: $
work in process: $
finished goods: $
factory overhead: $
Skills Required:
Project Stats:

Price Type: Negotiable

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