Helmets-R-Us, Inc. received an order for 230 helmets from Saints, Inc., Job Order 15. Total overhead...
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Helmets-R-Us, Inc. received an order for 230 helmets from Saints, Inc., Job Order 15. Total overhead allocated to all jobs is 40% of direct labor costs. Compute Helmets' job costs for Finished Goods Inventory and Cost of Goods Sold. Prepare journal entries to record the transfer of the completed job from Work-in-Process Inventory to Finished Goods. Record the sale of Job 15 for $210,000 2 23 24 25 26 27 28 29 30 31 32 33 34 135 Requirement 1 Job Number. Customer: Job Description: Direct Materials Requistion Number Date 10-Feb 12-Feb 113 13-Feb 117 Cost Summary Amount Date 110 $10,000 10-Feb 11-Feb 12-Feb 13-Feb Total Cost Unit Cost 5,000 10,000 Direct Materials Direct Labor Manufacturing Overhead JOB COST RECORD Direct Labor Labor Time Record Number Date Amount 315 $ 380 13-Feb 318 500 321 1,225 327 1,700 Manufacturing Overhead Rate Amount Helmets-R-Us, Inc. received an order for 230 helmets from Saints, Inc., Job Order 15. Total overhead allocated to all jobs is 40% of direct labor costs. Compute Helmets' job costs for Finished Goods Inventory and Cost of Goods Sold. Prepare journal entries to record the transfer of the completed job from Work-in-Process Inventory to Finished Goods. Record the sale of Job 15 for $210,000 2 23 24 25 26 27 28 29 30 31 32 33 34 135 Requirement 1 Job Number. Customer: Job Description: Direct Materials Requistion Number Date 10-Feb 12-Feb 113 13-Feb 117 Cost Summary Amount Date 110 $10,000 10-Feb 11-Feb 12-Feb 13-Feb Total Cost Unit Cost 5,000 10,000 Direct Materials Direct Labor Manufacturing Overhead JOB COST RECORD Direct Labor Labor Time Record Number Date Amount 315 $ 380 13-Feb 318 500 321 1,225 327 1,700 Manufacturing Overhead Rate Amount
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Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds
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