13 www.Post Post-it Notes are Recyclable www.Post-it.com Post-it Notes are Recyclable www.Post-it.com 26 Postit] Pos Postit Post-it Post-it 3 Post-it Notes are Recyclab www.Post-it.com Post-it Notes are Recyclable are Recyclable www.Post-it.com Post-it Post-it Post-it Post-it 14 13 www.Post-it.com www.Post-it.com Post-it Notu Post-it Notes are Recyclable Post-it Notes are Recyclable Atisos VISO SO 45. Incomplete datajob costing. Premier Printing, Inc., has not been profitable despite Ancreases in sales. It has hired you to learn why. You turn to the accounting system for data and find it to be a mess. However, you piece together the following information for June: Production 1. Completed Job 11. 2. Started and completed Job 12. 3. Started Job 13. Chapter 2 Measuring Product Coats Inventory Values 1. Work-in-process inventory: $4,000 10.200 May 31: Job 11 Direct materials Labor (0 hours $203 $ 3.200 20.800 June 30: Job 13 Direct materials Labor (1,040 hours x 520) 2. Each job in work-in-process inventory was exactly special completed as to laby hour, however, all the direct materials necessary to do the entire job were charged to each job as soon as it was started. 2. There were no direct materials inventories or finished goods inventories at either May 31 or June 30. Overhead 1. Actual manufacturing overhead was $40,000. 2. The company had sold jobs 11 and 12. You find limited information about the cost of these two jobs from a spreadsheet. These two jobs make up the total cost of goods sold {before adjustment for over or underapplied overhead) for the month of June Job 11 Direct Materials Direct Labor Overhead Total $ 4,000 3 ? $61.600 Job 12 2 Direct Materials Direct Labor Overhead Total 3. Overhead was applied to jobs using a predetermined rate per lahor dollar that has been used since the company began operations. 4. All direct materials were purchased for cash and charged directly to Work-in-Process Inventory when purchased. Direct materials purchased in June amounted to $9.200. 5. Direct labor costs charged to jobs in June were $64,000. All labor costs were the same per hour for Junc for all laborers. Write a report to management to show: a. The cost elements (material, labor, and overhead) of cost of goods sold before ad- justment for over- or underapplied overhead for each of the two jobs sold. b. The value of each cost element (material, labor, and overhead) for each job in Work- in-Process Inventory on June 30. c. Over- or underapplied overhead for June f. Direct materials usage during April g. Direct materials inventory, April 30 (45. Vhcomplete datajob costing. Premier Printing, Inc., has not been profitable despite Increases in sales. It has hired you to learn why. You turn to the accounting system for data and find it to be a mess. However, you piece together the following information for June: Production 1. Completed Job 11. 2. Started and completed Job 12. 3. Started Job 13. Reconnecting missing data. A severe tornado stick the only manufacturing plant of Chapter 2 Measuring Product Costs Inventary Values 1. Work-in-process inventory: May 31: Jeb 11 55.000 Direct materials Labor (460 houts x 520) theo of the WOL 1 Com June 30: Job 13 Wote $3,200 20.000 Direct materials Labor (1.040 hours x 120) Cou A Actu W al A 2. Each job in work-in-process inventory was exactly 50 percent completed as to laboy hours however, all the direct materials necessary to do the entire job were charged To cach job as soon as it was started. 3. There were no direct materials inventories or finished goods inventories at either May 31 or June 30 Overhead 1. Actual manufacturing overhead was $40,000. 2. The company had sold jobs 11 and 12. You find limited information about the cost of these two jobs from a spreadsheet. These two jobs make up the total cost of goods sold (before adjustment for over- or underapplied overhead) for the month of June Job 11 5 4,000 2 Direct Materials Direct Labor Overhead Total $61,600 Job 12 Direct Materials Direct Labor Overhead Total 3. Overhead was applied to jobs using a predetermined rate per labor dollar that has been used since the company began operations 4. All direct materials were purchased for cash and charged directly to Work-in-Process Inventory when purchased, Direct materials purchased in June amounted to $9,200. 5. Direct labor costs charged to jobs in June were $64.000. All labor costs were the same per hour for June for all laborers. Write a report to management to show: a. The cost elements (material, labor, and overhead) of cost of goods sold before ad- justment for over- or underapplied overhead for each of the two inhs sold. b. The value of each cost element (material, labor, and overhead) for each job in Work in-Process Inventory on June 30. c. Over- or underapplied overhead for June. 13 www.Post Post-it Notes are Recyclable www.Post-it.com Post-it Notes are Recyclable www.Post-it.com 26 Postit] Pos Postit Post-it Post-it 3 Post-it Notes are Recyclab www.Post-it.com Post-it Notes are Recyclable are Recyclable www.Post-it.com Post-it Post-it Post-it Post-it 14 13 www.Post-it.com www.Post-it.com Post-it Notu Post-it Notes are Recyclable Post-it Notes are Recyclable Atisos VISO SO 45. Incomplete datajob costing. Premier Printing, Inc., has not been profitable despite Ancreases in sales. It has hired you to learn why. You turn to the accounting system for data and find it to be a mess. However, you piece together the following information for June: Production 1. Completed Job 11. 2. Started and completed Job 12. 3. Started Job 13. Chapter 2 Measuring Product Coats Inventory Values 1. Work-in-process inventory: $4,000 10.200 May 31: Job 11 Direct materials Labor (0 hours $203 $ 3.200 20.800 June 30: Job 13 Direct materials Labor (1,040 hours x 520) 2. Each job in work-in-process inventory was exactly special completed as to laby hour, however, all the direct materials necessary to do the entire job were charged to each job as soon as it was started. 2. There were no direct materials inventories or finished goods inventories at either May 31 or June 30. Overhead 1. Actual manufacturing overhead was $40,000. 2. The company had sold jobs 11 and 12. You find limited information about the cost of these two jobs from a spreadsheet. These two jobs make up the total cost of goods sold {before adjustment for over or underapplied overhead) for the month of June Job 11 Direct Materials Direct Labor Overhead Total $ 4,000 3 ? $61.600 Job 12 2 Direct Materials Direct Labor Overhead Total 3. Overhead was applied to jobs using a predetermined rate per lahor dollar that has been used since the company began operations. 4. All direct materials were purchased for cash and charged directly to Work-in-Process Inventory when purchased. Direct materials purchased in June amounted to $9.200. 5. Direct labor costs charged to jobs in June were $64,000. All labor costs were the same per hour for Junc for all laborers. Write a report to management to show: a. The cost elements (material, labor, and overhead) of cost of goods sold before ad- justment for over- or underapplied overhead for each of the two jobs sold. b. The value of each cost element (material, labor, and overhead) for each job in Work- in-Process Inventory on June 30. c. Over- or underapplied overhead for June f. Direct materials usage during April g. Direct materials inventory, April 30 (45. Vhcomplete datajob costing. Premier Printing, Inc., has not been profitable despite Increases in sales. It has hired you to learn why. You turn to the accounting system for data and find it to be a mess. However, you piece together the following information for June: Production 1. Completed Job 11. 2. Started and completed Job 12. 3. Started Job 13. Reconnecting missing data. A severe tornado stick the only manufacturing plant of Chapter 2 Measuring Product Costs Inventary Values 1. Work-in-process inventory: May 31: Jeb 11 55.000 Direct materials Labor (460 houts x 520) theo of the WOL 1 Com June 30: Job 13 Wote $3,200 20.000 Direct materials Labor (1.040 hours x 120) Cou A Actu W al A 2. Each job in work-in-process inventory was exactly 50 percent completed as to laboy hours however, all the direct materials necessary to do the entire job were charged To cach job as soon as it was started. 3. There were no direct materials inventories or finished goods inventories at either May 31 or June 30 Overhead 1. Actual manufacturing overhead was $40,000. 2. The company had sold jobs 11 and 12. You find limited information about the cost of these two jobs from a spreadsheet. These two jobs make up the total cost of goods sold (before adjustment for over- or underapplied overhead) for the month of June Job 11 5 4,000 2 Direct Materials Direct Labor Overhead Total $61,600 Job 12 Direct Materials Direct Labor Overhead Total 3. Overhead was applied to jobs using a predetermined rate per labor dollar that has been used since the company began operations 4. All direct materials were purchased for cash and charged directly to Work-in-Process Inventory when purchased, Direct materials purchased in June amounted to $9,200. 5. Direct labor costs charged to jobs in June were $64.000. All labor costs were the same per hour for June for all laborers. Write a report to management to show: a. The cost elements (material, labor, and overhead) of cost of goods sold before ad- justment for over- or underapplied overhead for each of the two inhs sold. b. The value of each cost element (material, labor, and overhead) for each job in Work in-Process Inventory on June 30. c. Over- or underapplied overhead for June