Canlas Company manufactures tools on a job order basis wherein during the month of April 2021,...
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Canlas Company manufactures tools on a job order basis wherein during the month of April 2021, three jobs were completed. The following costs were incurred: J501 Direct Materials Direct Labor Overtime Premium 18,000 7,000 J502 27,000 9,000 2,000 J503 20,000 8,000 Other factory costs for the month totaled 27,000 allocated to J503, J502, and 501 using 3:4:2 ratio, respectively. Assume overtime pay is charged to all jobs, compute the following: 5. Total debit to work-in-process account related to labor 6. Total debit to overhead account Assume overtime pay is solely charged to J502, compute the following: 7. Total debit to work-in-process account related to labor 8. Total cost of J502 Canlas Company manufactures tools on a job order basis wherein during the month of April 2021, three jobs were completed. The following costs were incurred: J501 Direct Materials Direct Labor Overtime Premium 18,000 7,000 J502 27,000 9,000 2,000 J503 20,000 8,000 Other factory costs for the month totaled 27,000 allocated to J503, J502, and 501 using 3:4:2 ratio, respectively. Assume overtime pay is charged to all jobs, compute the following: 5. Total debit to work-in-process account related to labor 6. Total debit to overhead account Assume overtime pay is solely charged to J502, compute the following: 7. Total debit to work-in-process account related to labor 8. Total cost of J502
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Related Book For
Accounting Tools for business decision making
ISBN: 978-0470095461
4th Edition
Authors: kimmel, weygandt, kieso
Posted Date:
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