Question: Problems: Set A Prepare entries in a job cost system and job cost sheets. (SO 2, 3, 4, 5, 6) P20-1A Bynum Manufacturing uses a

Problems: Set A Prepare entries in a job cost system and job cost sheets. (SO 2, 3, 4, 5, 6) P20-1A Bynum Manufacturing uses a job order cost system and applies overhead to produc- tion on the basis of direct labor costs. On January 1, 2012, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,000, direct labor $12,000, and manufacturing overhead $16,000. As of January 1, Job No. 49 had been com- pleted at a cost of $90,000 and was part of finished goods inventory. There was a $15,000 balance in the Raw Materials Inventory account.

Problems: Set A Prepare contries in a job cosa system and job coss sheets. (SO 2,3,4,5,6. P20-1A Bynum Manufacturing uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1,2012, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,000, direct labor $12,000, and manufacturing overhead $16,000. As of January 1 , Job No. 49 had been completed at a cost of $90,000 and was part of finished goods inventory. There was a $15,000 balance in the Raw Materials Inventory account

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