Isdredd Inc. manufactures kitchen cabinetry for new and existing homes. Early in April, the computer system...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Isdredd Inc. manufactures kitchen cabinetry for new and existing homes. Early in April, the computer system was attacked by a virus and some of the manufacturing data from March was lost before month end was completed. The production and accounting departments have recovered the following information: Added during March Status at March 31 Cost incurred to March 1 Job Number Direct Labour 8,200 $ 4,300 | $ 2,600 $ Direct Materials 2,200 | $ 3,600 $ 300 | $ Direct Materials Direct Labour 1220-QC 0121-BF 0221-YV 0321-AS 600 $ 10,500 $ 7,500 $ $ ? 300 Not completed 5,400 Completed, not sold 6,000 Completed, sold $ ? $ $ 2$ 2$ 2$ Not completed Isdredd Inc. also had records showing the following account activity for March: Purchased in Issued/Used in Account Direct materials Direct labour At March 1 March March At March 31 16,300 $ $ 32,000 $ $ $. 23,800 $ ? 13,000 Additional Information: Annual overhead is estimated to be $75,000 based on $100,000 of direct labour. On March 1, there was one job, 1120-cC, in Finished Goods. This job was completed in February for a total cost of $23,000 and sold in March for $29,500. Required: a) What is the total cost of the two completed jobs in March? b) What are the account balances for Direct Materials, Work in Process, and Finished Goods at March 31? Isdredd Inc. manufactures kitchen cabinetry for new and existing homes. Early in April, the computer system was attacked by a virus and some of the manufacturing data from March was lost before month end was completed. The production and accounting departments have recovered the following information: Added during March Status at March 31 Cost incurred to March 1 Job Number Direct Labour 8,200 $ 4,300 | $ 2,600 $ Direct Materials 2,200 | $ 3,600 $ 300 | $ Direct Materials Direct Labour 1220-QC 0121-BF 0221-YV 0321-AS 600 $ 10,500 $ 7,500 $ $ ? 300 Not completed 5,400 Completed, not sold 6,000 Completed, sold $ ? $ $ 2$ 2$ 2$ Not completed Isdredd Inc. also had records showing the following account activity for March: Purchased in Issued/Used in Account Direct materials Direct labour At March 1 March March At March 31 16,300 $ $ 32,000 $ $ $. 23,800 $ ? 13,000 Additional Information: Annual overhead is estimated to be $75,000 based on $100,000 of direct labour. On March 1, there was one job, 1120-cC, in Finished Goods. This job was completed in February for a total cost of $23,000 and sold in March for $29,500. Required: a) What is the total cost of the two completed jobs in March? b) What are the account balances for Direct Materials, Work in Process, and Finished Goods at March 31?
Expert Answer:
Answer rating: 100% (QA)
a Job Number 0121BF 0221YV Total Beginning balance March 1 Direct material... View the full answer
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Posted Date:
Students also viewed these general management questions
-
April 1 Purchased 15000 of direct materials on account April 4 Purchased 3000 of indirect materials on account April 6 Requested 7000 of direct materials and 400 of indirect materials for production...
-
Accounting Q4 Question completion Status: 3 4 SB 6 7 9 10 QUESTION 3 The following information relates to Questions 3:8. Suppose a research USLOMAS 20 3 4 54 6 7 8 9 10 10 TReport your answer as a...
-
Coleman Anociates, a law firm, hires Attomey Lucy Jodoin at an annual sealary of $180,000. The law firm expects her to spend 2.400 hours a year pe total of 18.000 diredt labor hours this year. Before...
-
Problem A (20 points): Loco Farms Company sold 36,000 units of its only product and incurred a $18,672 loss (ignoring taxes) for the current year as shown here. During a planning session for year...
-
A language school owner takes an SRS of 10 of the 72 Introductory Spanish classes offered by the school. Each student in each of the sampled classes is given a vocabulary test and is also asked...
-
The following transactions occurred between Cloutier Pharmaceuticals and Arnold Drug Stores during June of the current year: Jun. 8 Arnold purchased $29,400 of merchandise from Cloutier on credit...
-
In the photoelectric effect, electrons are never emitted from a metal if the frequency of the incoming light is below a certain threshold value. This is because A. Photons of lower-frequency light...
-
Gloria Varay, MD, opened a medical practice. The business completed the following transactions: After these transactions, how much cash does the business have to work with? Use a T account to show...
-
What is the risk response strategy that attempts to minimize the impact or the probability of a negative risk?
-
A 1.33-cm-diameter metal bar with a 3-cm gage length (l 0 ) is subjected to a tensile test. The following measurements are made in the plastic region: Determine the strain-hardening coefficient for...
-
Question 15 Select the correct numbering of the parts of an automatic level. ? ? ? ? ? ? - ? ? ? ? ? 1. ? ? ? ? ? 2. ? ? ? ? ? 3. ? ? ? ? ? 4. ? ? ? ? ? 5. ? ? ? ? ? 6. ? ? ? ? ? Slow Motion Screw ?...
-
BCC is completely acceptable in business/professional work. Do you use BCC? If so, for what reasons? Does it really matter if you use BCC or not, as for email you can just simply forward the email...
-
A series, or stream, of cash flows may not always necessarily be an annuity. Cash flows can also be uneven and nonconstant, but the concept of the time value of money applies to uneven cash flows as...
-
Who was Marie Tagliofil and what did she contribute to the To" century Romantic era Of ballet? (Video. Romantic Era- Marie Taglioni 1804-1884) What was ballet dancer Anna Pavlova known for? How has...
-
Arrow wants to buy a new item of equipment which will be used to provide a service to customers of the company. Two models of equipment are available, one with a slightly higher capacity and greater...
-
What types of messages would you personally need extra elaboration on to sway you more one way or another? Out of the 5 influences on motivation, which one would be more effective when trying to...
-
what's your personal feelings for a management courses??? how they help u to be a good manager??? and can u give a example??
-
State whether each of the following will increase or decrease the power of a one-way between-subjects ANOVA. (a) The effect size increases. (b) Mean square error decreases. (c) Mean square between...
-
Using the data in Exercise 8-25, compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method.
-
What are the advantages and disadvantages of a negotiated transfer price system?
-
Obtain 13 years of data from the published financial statements of a company. You will be able to find the data on the Internet. Also, Moodys, Standard & Poors, and Value-Line are good sources of...
-
Outline the general strategy used in metagenomics.
-
The codon change (Gly-12 to Val-12) in human H-ras that converts it to oncogenic H-ras has been associated with many types of cancers. For this reason, researchers would like to develop drugs to...
-
You need to understand the approach described in question 3 in More Genetic TIPS before answering this question. A muscle-specific gene was cloned and then subjected to promoter bashing. As shown...
Study smarter with the SolutionInn App