Question: please help me. i need the formulas for excell included if possible what more info do you need? were suppose to calcukate the job cost





2 R S T U W X Y Z AB AC AD AE Instructions - Determine the numerical answers to questions #1-22 a Use formulas and/or functions to determine each answer b. Use variables/cell references rather than typing numbers into the formulas c. Do not use "helper cells". Your formulas may only reference cells where data is given OR cells where you have previously entered in answers. d. Use the SUM and SUMIF functions at least twice each e. Consider using the SUMIFS function, although it is not required. Answer #1 using a formula that may be copied down to the six cells below it. Copy the formula for #1 down in order to answer #2 through #7 M N 0 Q R S T U JOB ORDER COSTING PROBLEM Instructions - Determine the a Use formulas and/or function b. Use variables/icel references Do not use "helper cells Your formules may only rel cells where you have previo d. Use the SUM and SUMIF June e Consider using the SUMIES Jonick Industries, Inc. uses a job order costing system in manufactuning custom products, The following table summarizes data related to production in June, the first month of operations Determine the cost to date of each of the seven Jobs below. (only if sold) Questions #1-7) Factory Machine Sales Job Cost Job Materials Labor Hours Completed Price to Date Job 201 6.680 13,130 90 Job 202 16,380 10,930 70 yes 2 Job 203 9,310 7,670 40 yes 32.950 3 Job 204 9,500 15,810 60 yes Job 205 13,150 4830 40 5 Job 206 5,170 13,300 30 yos 34.460 6 Job 207 7,410 6,830 25 yes 26,760 7 For general factory use 17 550 5,530 "The factory overhead rato per machine hour appears in cell L70 below 1 Answer #1 using a formula that Copy the formula for 1 down in 4 Complete the following transactions for Jonick Industries by entering the amounts. The transactions relate to one another. 8. Materials were purchased on account. $123,470 Debit Credit Date 8. Account Materials Accounts Payable 9 Materials were requisitioned (based on the information in the table above) Debit Credit Date 9. Account Work in Process Factory Overhead Materials 3 10 Factory labor was used (based on the information in the table above.) 1 2 3 4 5 6 7 8 -9 Debit Credit Date 10 Account Work in Process Factory Overhead Wages Payable 11. Factory overhead costs were incurred on account. $16,610 Date Debit Credit 11. Account Factory Overhead Accounts Payable 12. Depreciation of factory machinery and equipment: $14,270 Debit 3 1 Credit Date 12 Account Factory Overhead Accumulated Depreciation 5 3 7 3 3 $60 13. The factory overhead rate, per machine hour Machine hours used appears in the table above. Debit Credit 1 2 3 4 5 6 7 Date 13 Account Work in Process Factory Overhead o 14. Jobs were completed. Date Debit Credit 14. Account Finished Goods Work in Process 15. Jobs were shipped to customers and inventory was adjusted. Debit Credit Date 15 Account Cost of Goods Sold Finished Goods 16. Customers were billed on account for jobs sold. 3 1 5 3 7 8 9 00 1 2 3 34 05 Debit Credit Date 16. Account Accounts Receivable Sales Determine the following amounts at the end of the first accounting period based on the journal entries above. (Questions #17-21) 17. Ending balance in the Materials account 18. Cost so far of all uncompleted jobs 19. Cost of all jobs completed but not yet sold 20. Cost of all jobs that have been sold 21. Gross profit on all jobs that have been sold (Question #22) 1 2 3 4 5 6 7 8 9 20 21 22 23 24 Determined during the next accounting period: 22. Actual factory overhead for the previous period: $21,690 Debit Credit Date 22 Account Cost of Goods Sold Factory Overhead 25 26 27
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