1 A B C

1) SUPER COOL QUESTION!! LOOK FOR SOMETHING LIKE THIS ON THE EXAM! Mitsy's Manufacturing Company accounts for jobs using a job order costing system. On April 1, They have a $4,200 balance in their Work in Process. This consists of two jobs: Job Number 534 beginning balance is $2,500 and Job Number 535 beginning balance is $1,700. During April, a summary of the Materials Requisition Slips and Labor Time LO CO Sheets gives the following information: 10 11 Material Labor 12 Requisition Time 13 Job Number Slips Sheets 14 534 2,300.00 1,900.00 15 535 3,500.00 3,000.00 16 536 4,400.00 7,600.00 17 Indirect 800.00 1,200.00 18 11,000.00 13,700.00 19 20 Mitsy's Manufacturing applies manufacturing overhead to jobs at a overhead rate of 21 80% of direct labor costs. Job 535 is completed during the month. 22 23 24 Required 25 A) Prepare journal entries fo record: 26 The requisition slips. (One combined entry for all jobs.) 27 - The time sheets. (One combined entry for all jobs.) 28 -Overhead assigned. (One combined entry for all jobs.) 29 The completion of Job 535 30 31 B) Create a T Account and post the entries to Work in Process. 32 33 C) Create Job Cost Sheets for Job 534 and Job 536 that reconcile in total with the T Account for Work in Process. 35 36 37