Jagger and Richards Company manufactures custom guitars in a wide variety of styles. The following incomplete ledger
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In addition, the following information is available:
a. Materials and direct labor were applied to six jobs in October:
b. Factory overhead is applied to each job at a rate of 60% of direct labor cost.
c. The October Work in Process balance consisted of two jobs, as follows:
d. Customer jobs completed and units sold in October were as follows:
1. Determine the missing amounts associated with each letter. Provide supporting calculations by completing a table with the following headings:
2. Determine the October 31 balances for each of the inventory accounts and factory overhead.
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Related Book For
Financial and Managerial Accounting Using Excel for Success
ISBN: 978-1111993979
1st edition
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
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