Question: cost accounting pls be sure from the answer The third question: The Modern Resources Company uses the production order costs system, and the company had

cost accounting pls be sure from the answer
cost accounting pls be sure from the answer The third question: The

The third question: The Modern Resources Company uses the production order costs system, and the company had an order under operation on 12/31/2020, the total cost of 5000 riyals, of which 2000 is direct materials and the rest represents direct labor and indirect industrial costs. The manufacturing of the order was completed on 01/31/2021 and the industrial costs incurred to complete the manufacturing of the order (during the month of 1st of 2021) were as follows (12,000 direct materials, 8000 direct labors, 50% of direct labor as indirect industrial costs). Note that the company's policy in general is to charge indirect industrial costs at a rate of 50% of direct work. Required: Writing the production order entries in 2021 and calculating the total indirect industrial costs charged to the production order in 2020 and 2021

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!