The writer is very fast, professional and responded to the review request fast also. Thank you.
Book/movie review
22/08/2022
Problem 20-5A
Phillips Corporation’s fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year.
Other data:
1.
On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,750 and direct labor costs of $15,000. Overhead was applied at a rate that was 75% of direct labor cost.
2.
During December, Job Nos. 156, 157, and 158 were started. On December 31, Job No. 158 was unfinished. This job had charges for direct materials $3,800 and direct labor $4,800, plus manufacturing overhead. All jobs, except for Job No. 158, were completed in December.
3.
On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $5,000. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,000.
4.
Manufacturing overhead was $1,470 underapplied in December.
List the letters (a) through (m) and indicate the amount pertaining to each letter.
List the letters (a) through (m) and indicate the amount pertaining to each letter.
Raw Materials Inventory
Dec. 1
Beginning balance
(a)
Dec. 31
Requisitions
16,850
31
Purchases
17,225
Dec. 31
Ending balance
7,975
Work in Process Inventory
Dec. 1
Beginning balance
(b)
Dec. 31
Jobs completed
(f)
31
Direct materials
(c)
31
Direct labor
8,400
31
Overhead
(d)
Dec. 31
Ending balance
(e)
Finished Goods Inventory
Dec. 1
Beginning balance
(g)
Dec. 31
Cost of goods sold
(i)
31
Completed jobs
(h)
Dec. 31
Ending balance
(j)
Factory Labor
Dec. 31
Factory wages
12,025
Dec. 31
Wages assigned
(k)
Manufacturing Overhead
Dec. 31
Indirect materials
2,900
Dec. 31
Overhead applied
(m)
31
Indirect labor
(l)
31
Other overhead
1,245
The writer is very fast, professional and responded to the review request fast also. Thank you.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more