Question: please answer the following questions using the data page job incurred at january first is considered job sold > 1 Work-in-Process Inventory 2 Jobs in

please answer the following questions using the data page
please answer the following questions using the data page job incurred at
january first is considered job sold > 1 Work-in-Process Inventory 2 Jobs
in Progress at January 1 3 Job A 4 Job B 5
job incurred at january first is considered job sold

> 1 Work-in-Process Inventory 2 Jobs in Progress at January 1 3 Job A 4 Job B 5 Job C 6 TOTAL Work in Process 7 8 Costs incurred in January Costs Incurred as of January 1 $25,000 $15,000 $5,000 $45,000 5 un 9 Jobs Worked in January 10 Job A 11 Job B 12 Job C 13 Job D 14 Job E 15 Job F 16 Job G 17 Job H 18 TOTALS 19 20 Labor rate 21 Average Labor Rate in January 22 Direct Materials Used $0 $4,500 $13,000 $8,500 $10,500 $18,000 $16,000 $11,500 $82,000 Direct Labor hours incurred 35 90 75 120 70 45 50 60 545 + $ 28.00 per hour Academic Honesty Data A REQUIRED Grade + Ready A B B D 20 Labor rate 21 Average Labor Rate in January $ 28.00 per hour 22 23 Manufacturing Overhead Application Rate Information 24 Estimated Total Overhead Costs $ 85,500 25 Estimated Total Direct Labor Hours 500 $171.00 You 31 26 January Overhead Application Rate 27 28 Actual Overhead Costs Incurred in January 29 Actual Overhead Costs 30 Office Supplies Indirect Materials 32 Indirect Labor 33 Factory Cleaning 34 Depreciation 35 Utilities 36 Rent 37 TOTAL 38 39 Inventory Information 40 Raw Materials Inventory, January 1 41 Raw Materials Inventory Purchases 42 Work-in-Process Inventory, January 1 43 Finished Goods Inventory, January 1 44 $7,000 $9,500 $30,000 $3,000 $16,000 $7,500 $12,000 $85,000 + $10,000 $110,000 $45,000 $0 G Joh!! Joho ob sobo 2 3 Beginning Balance 4 Direct Materials 5 Direct Labor 6 Overhead Applied 7 TOTAL Job 525,000 $0 $90 $5.985 SUL.65 b $15.000 $4.500 $2.520 $15.000 $37410 D Job C 55,000 $13,000 $2,100 $12.95 $32.925 SR 500 160 $20.530 $12,180 $10.500 $60 $11.970 $24.410 $1,000 $1,200 $7695 $24.95 $16.000 $1,400 5R550 $25. S11.50 51. $10.200 $21.440 TOTALS $45.000 132.000 $15.260 393,195 5235455 $190.455 9 10 Current Manufacturing Costs for January 11 12 Con of Goods Manufactured for anuary 13 14 Cost of Goods sold for lanuary is 16 Raw Materials entory at January 31 17 18 Work-in-process inventory at January 31 19 20 Finished Goods inventory at January 31 21 22 Over/Under Applied Overhead at ianuary 31 Link to Choices Ostaped Choices Overapplied Underapplied 24 > 1 Work-in-Process Inventory 2 Jobs in Progress at January 1 3 Job A 4 Job B 5 Job C 6 TOTAL Work in Process 7 8 Costs incurred in January Costs Incurred as of January 1 $25,000 $15,000 $5,000 $45,000 5 un 9 Jobs Worked in January 10 Job A 11 Job B 12 Job C 13 Job D 14 Job E 15 Job F 16 Job G 17 Job H 18 TOTALS 19 20 Labor rate 21 Average Labor Rate in January 22 Direct Materials Used $0 $4,500 $13,000 $8,500 $10,500 $18,000 $16,000 $11,500 $82,000 Direct Labor hours incurred 35 90 75 120 70 45 50 60 545 + $ 28.00 per hour Academic Honesty Data A REQUIRED Grade + Ready A B B D 20 Labor rate 21 Average Labor Rate in January $ 28.00 per hour 22 23 Manufacturing Overhead Application Rate Information 24 Estimated Total Overhead Costs $ 85,500 25 Estimated Total Direct Labor Hours 500 $171.00 You 31 26 January Overhead Application Rate 27 28 Actual Overhead Costs Incurred in January 29 Actual Overhead Costs 30 Office Supplies Indirect Materials 32 Indirect Labor 33 Factory Cleaning 34 Depreciation 35 Utilities 36 Rent 37 TOTAL 38 39 Inventory Information 40 Raw Materials Inventory, January 1 41 Raw Materials Inventory Purchases 42 Work-in-Process Inventory, January 1 43 Finished Goods Inventory, January 1 44 $7,000 $9,500 $30,000 $3,000 $16,000 $7,500 $12,000 $85,000 + $10,000 $110,000 $45,000 $0 G Joh!! Joho ob sobo 2 3 Beginning Balance 4 Direct Materials 5 Direct Labor 6 Overhead Applied 7 TOTAL Job 525,000 $0 $90 $5.985 SUL.65 b $15.000 $4.500 $2.520 $15.000 $37410 D Job C 55,000 $13,000 $2,100 $12.95 $32.925 SR 500 160 $20.530 $12,180 $10.500 $60 $11.970 $24.410 $1,000 $1,200 $7695 $24.95 $16.000 $1,400 5R550 $25. S11.50 51. $10.200 $21.440 TOTALS $45.000 132.000 $15.260 393,195 5235455 $190.455 9 10 Current Manufacturing Costs for January 11 12 Con of Goods Manufactured for anuary 13 14 Cost of Goods sold for lanuary is 16 Raw Materials entory at January 31 17 18 Work-in-process inventory at January 31 19 20 Finished Goods inventory at January 31 21 22 Over/Under Applied Overhead at ianuary 31 Link to Choices Ostaped Choices Overapplied Underapplied 24

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!