Question 7 Russell Company uses a job-order costing system and began the month of March with...

Transcribed Image Text:

Question 7 Russell Company uses a job-order costing system and began the month of March with three jobs in process. The cost of beginning work in process plus the costs added during March are given below: beginning work in process ... Job #24 $16,000 COSTS ADDED DURING MARCH: direct material cost direct labor cost ... $34,000 $22,000 Job #63 beginning work in process COSTS ADDED DURING MARCH: direct material cost direct labor cost $ 9,000 $28,000 $15,000 Job #88 beginning work in process $22,000 COSTS ADDED DURING MARCH: direct material cost direct labor cost. $37,000 $49,000 Russell Company applies overhead to jobs at a rate of 120% of direct materials cost. During March, Job #24 and Job #88 were completed. Job # 63 was not completed by the end of March. Additionally, by the end of March, all of Job #24 was sold and one-third of Job #88 was sold. Calculate the amount of work in process inventory shown in Russell Company's March 31 balance sheet. 4 pts Question 8 Russell Company uses a job-order costing system and began the month of March with three jobs in process.. The cost of beginning work in process plus the costs added during March are given below: beginning work in process Job #24 $16,000 COSTS ADDED DURING MARCH: direct material cost $34,000 direct labor cost $22,000 Job #63 beginning work in process COSTS ADDED DURING MARCH: direct material cost direct labor cost $ 9,000 $28,000 $15,000 beginning work in process COSTS ADDED DURING MARCH: direct material cost direct labor cost ..... Job #88 $22,000 $37,000 $49,000 Russell Company applies overhead to jobs at a rate of 120% of direct materials cost. During March, Job #24 and Job # 88 were completed. Job # 63 was not completed by the end of March. Additionally, by the end of March, all of Job #24 was sold and one-third of Job #88 was sold. Calculate the amount of finished goods inventory shown in Russell Company's March 31 balance sheet. 5 pts Question 7 Russell Company uses a job-order costing system and began the month of March with three jobs in process. The cost of beginning work in process plus the costs added during March are given below: beginning work in process ... Job #24 $16,000 COSTS ADDED DURING MARCH: direct material cost direct labor cost ... $34,000 $22,000 Job #63 beginning work in process COSTS ADDED DURING MARCH: direct material cost direct labor cost $ 9,000 $28,000 $15,000 Job #88 beginning work in process $22,000 COSTS ADDED DURING MARCH: direct material cost direct labor cost. $37,000 $49,000 Russell Company applies overhead to jobs at a rate of 120% of direct materials cost. During March, Job #24 and Job #88 were completed. Job # 63 was not completed by the end of March. Additionally, by the end of March, all of Job #24 was sold and one-third of Job #88 was sold. Calculate the amount of work in process inventory shown in Russell Company's March 31 balance sheet. 4 pts Question 8 Russell Company uses a job-order costing system and began the month of March with three jobs in process.. The cost of beginning work in process plus the costs added during March are given below: beginning work in process Job #24 $16,000 COSTS ADDED DURING MARCH: direct material cost $34,000 direct labor cost $22,000 Job #63 beginning work in process COSTS ADDED DURING MARCH: direct material cost direct labor cost $ 9,000 $28,000 $15,000 beginning work in process COSTS ADDED DURING MARCH: direct material cost direct labor cost ..... Job #88 $22,000 $37,000 $49,000 Russell Company applies overhead to jobs at a rate of 120% of direct materials cost. During March, Job #24 and Job # 88 were completed. Job # 63 was not completed by the end of March. Additionally, by the end of March, all of Job #24 was sold and one-third of Job #88 was sold. Calculate the amount of finished goods inventory shown in Russell Company's March 31 balance sheet. 5 pts