Question: Please!!!! all the required question are below. Provide me accurate answer with step by step guide. Canada Capital Company uses a job-order costing system. The

Please!!!!
all the required question are below. Provide me accurate answer with step by step guide.
Please!!!!all the required question are below. Provide me accurate answer with step
by step guide. Canada Capital Company uses a job-order costing system. The
following data relate to October, the first month of the company's fiscal

Canada Capital Company uses a job-order costing system. The following data relate to October, the first month of the company's fiscal year: o. Raw materials were purchased on account, $236,000. b. Raw materials were issued to production, $213,400 ( $200,100 direct materials and $13,300 indirect materials). c. Direct tabour cost was incurred, $111,300; indirect labour cost was incurred, $101,700. d. Depreciation was recorded on factory equipment, $41,300, e. Other manufactuting overhead costs were incurred duting October, $19,100 (credit accounts payable). f. The company applies manufacturing overhead cost to production on the basis of $8.00 per machine-hout. There were 33.900 machine-hours recorded for October. 9. Production orders costing $585,000 according to their job cost sheets were completed duting October and transferred to finished goods. h. Production orders that had cost $538.500 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold at 20% above cost. The goods were sold on actount. Required: 1. Prepare joumal entries to record the preceding information. (If no entry is required for a particular transection, select "No journal entry required" in the first occount field.) Required: 1. Prepare journal entries to record the preceding information. (If no entry is required for a porticular tronsoction, select "No journol entry required" in the first account field.) 2. Prepare T-accounts for manufacturing overhead and work in process. Post the relevant information above to each account. Compute the ending belance in each account, assuming that work in process has a beginning balance of $43,300

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!