Exhibit 17-2 Flow of Product Costs in Job Order Costing Direct Materials Direct Labor Manufacturing Overhead...

 

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Exhibit 17-2 Flow of Product Costs in Job Order Costing Direct Materials Direct Labor Manufacturing Overhead Job 27, Job 28 Job 20 Assigned to Work-in-Process Inventory Ending Balance: Cost of Job 29 Costs for each job are added to WIP Job 27, Job 28 Completed Job Order Costing Finished Goods Inventory Ending Balance: Cost of Job 28 When jobs are completed, the costs are transferred out of WIP into FG. This amount is called the job's Cost of Goods Manufactured (COGMI Job 27 Sold Cost of Goods Sold Ending Balance: Cost of Job 27 When jobs are sold, the costs are transferred out of FG into COGS. Discussion Board Chapter 17 Look on page 911 at Exhibit 17-2 (Flow of Product Costs in Job Order Costing) in Chapter 17. You are going to make a new carport and you are a building contractor. Please list in at least 200 words to receive credit of what will be used in Direct Materials, Direct Labor, MOH and how it flows into WIP and through Finished Goods and eventually through COGS. No numbers are required. Exhibit 17-2 Flow of Product Costs in Job Order Costing Direct Materials Direct Labor Manufacturing Overhead Job 27, Job 28 Job 20 Assigned to Work-in-Process Inventory Ending Balance: Cost of Job 29 Costs for each job are added to WIP Job 27, Job 28 Completed Job Order Costing Finished Goods Inventory Ending Balance: Cost of Job 28 When jobs are completed, the costs are transferred out of WIP into FG. This amount is called the job's Cost of Goods Manufactured (COGMI Job 27 Sold Cost of Goods Sold Ending Balance: Cost of Job 27 When jobs are sold, the costs are transferred out of FG into COGS. Discussion Board Chapter 17 Look on page 911 at Exhibit 17-2 (Flow of Product Costs in Job Order Costing) in Chapter 17. You are going to make a new carport and you are a building contractor. Please list in at least 200 words to receive credit of what will be used in Direct Materials, Direct Labor, MOH and how it flows into WIP and through Finished Goods and eventually through COGS. No numbers are required.

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A work sheet is used to keep track of the following expenditures direct material labor and overhead ... View the full answer