Johnson Company uses a job-order costing system and started the month of July with four jobs...
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Johnson Company uses a job-order costing system and started the month of July with four jobs in process. The cost of beginning work in process plus the costs added during July are shown below: beginning cost beginning cost COSTS ADDED DURING JULY: ********* direct materials used direct labor cost direct materials used direct labor cost beginning cost ******* beginning cost Job A $4,900 COSTS ADDED DURING JULY: direct materials used direct labor cost Job 0 $6,300 direct materials used direct labor cost....... Job A $5,200 $6,400 Job 0 $4,600 $5,100 Johnson Company applies overhead to jobs at a rate of 78% of direct materials used. During July, Johnson completed and sold Job A. Job E was completed during July, but only one-third of the job was sold as of the end of July. Job 0 was completed in July but none of the job was sold during July. Job U was not completed by the end of July. Johnson Company had actual overhead cost of $8,600 for July. Calculate Johnson Company's finished goods inventory balance at July 31. Johnson Company uses a job-order costing system and started the month of July with four jobs in process. The cost of beginning work in process plus the costs added during July are shown below: Job A $4,908 Job 0 $6,308 Job E $7,708 Job A $5,200 $6,400 Job U $2,100 Job 0 $4,600 $5,100 Job E $3,900 $3,400 Job U $2,800 $3,700 Job E $7,700 Job U $2,100 Job E $3,900 $3,400 Job U $2,800 $3,700 Johnson Company applies overhead to jobs at a rate of 70% of direct materials used. During July, Johnson completed and sold Job A. Job E was completed during July, but only one-third of the job was sold as of the end of July. Job 0 was completed in July but none of the job was sold during July. Job U was not completed by the end of July. Johnson Company had actual overhead cost of $8,600 for July. Calculate Johnson Company's cost of goods sold for July after the overhead variance is closed. Johnson Company uses a job-order costing system and started the month of July with four jobs in process. The cost of beginning work in process plus the costs added during July are shown below: beginning cost beginning cost COSTS ADDED DURING JULY: ********* direct materials used direct labor cost direct materials used direct labor cost beginning cost ******* beginning cost Job A $4,900 COSTS ADDED DURING JULY: direct materials used direct labor cost Job 0 $6,300 direct materials used direct labor cost....... Job A $5,200 $6,400 Job 0 $4,600 $5,100 Johnson Company applies overhead to jobs at a rate of 78% of direct materials used. During July, Johnson completed and sold Job A. Job E was completed during July, but only one-third of the job was sold as of the end of July. Job 0 was completed in July but none of the job was sold during July. Job U was not completed by the end of July. Johnson Company had actual overhead cost of $8,600 for July. Calculate Johnson Company's finished goods inventory balance at July 31. Johnson Company uses a job-order costing system and started the month of July with four jobs in process. The cost of beginning work in process plus the costs added during July are shown below: Job A $4,908 Job 0 $6,308 Job E $7,708 Job A $5,200 $6,400 Job U $2,100 Job 0 $4,600 $5,100 Job E $3,900 $3,400 Job U $2,800 $3,700 Job E $7,700 Job U $2,100 Job E $3,900 $3,400 Job U $2,800 $3,700 Johnson Company applies overhead to jobs at a rate of 70% of direct materials used. During July, Johnson completed and sold Job A. Job E was completed during July, but only one-third of the job was sold as of the end of July. Job 0 was completed in July but none of the job was sold during July. Job U was not completed by the end of July. Johnson Company had actual overhead cost of $8,600 for July. Calculate Johnson Company's cost of goods sold for July after the overhead variance is closed.
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Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
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