Alp.. CHAPTER 5 JOB ORDER COSTING 109 The work in process account controls threa jobs: JOB 621 Jos 623 Jos 622 $2,800 $3
Posted: Sun Apr 17, 2022 6:22 pm
- Alp Chapter 5 Job Order Costing 109 The Work In Process Account Controls Threa Jobs Job 621 Jos 623 Jos 622 2 800 3 1 (336.66 KiB) Viewed 43 times
- Alp Chapter 5 Job Order Costing 109 The Work In Process Account Controls Threa Jobs Job 621 Jos 623 Jos 622 2 800 3 2 (341.17 KiB) Viewed 43 times
Alp.. CHAPTER 5 JOB ORDER COSTING 109 The work in process account controls threa jobs: JOB 621 Jos 623 Jos 622 $2,800 $3,400 $11800- 2,700 1,350 * 1.680 1,080 56.80 $8.260 $4,230 Materials Labor Applied lactory overhead Total 2,100 2. 160 Scanned with CamScanner INTER The following information pertains to March operatio operations: (a) Materials purchased and received: $22,000: terms, n/30. (0) Materials requisitlöned (ore production, $21:000. O1-this amount; $2,400 was for indirect materials; the difference was distribuſed: $5,300:10 Job 621; $7,400 to Job 622; and $5:900 to Job 623. (c) Materials returned to the storeroom from the factory, $600, of whichi S200 was for indirect , The balance from Job 622. (d). Materials returned to vendors, $800. Hire Payroll, afler: deducting 6.5% for ELCA tax and $30,970. The payroll amount due the employees was paid during March... and 12% for enployees' income tax, was YA materials 1 lit? Of the payroll, direct labor represented 55%; Indirect labor, 20% sales salaries, -15%, and ibor administrative salarles, 10%. The dired labor cost was distributod: $6,420 to Job 621; $8,160 to Job 622; and $6,320 to Job 623. (9) An additional 9.9% was enlered for employer payroll Laxes, representing the employer's 6.5% FiCA tax; 2.7% stale: unemployment Insurance tax, and 7% federal unemployment insurance fax. Employer payroll taxes related to direct labor are charged to the factory overhead. control account: (h) Factory-overhead, other than any previously mentioned, arnounted-10-$5,500. Induded in this ligure were $2,000 for deprecialion of lactory building and equipment and $250 lor expired insurance on the lactory. The remaining overhead: $3,250, was unpaid at the end of March, (i). Fac!ory overhead applied to production: 80% of the direct labor cost to be charged to the three jobs based on the labor costlor March. (i) Jobs 621 and 622 were completed and transferred to the finished goods warehouse. (k) Both Jobs 621 and 622 were shipped and billed at a gross protit ol 40% of the cost of goods cold. (1) Cash collections from accounts receivable during March were $69.450.
As... CHAPTER 5 JOB ORDER COSTING 109 The work in process account controls three jobs: Jos 623 Materials Labor Applied lactory overhead: Total JOB 621 JOB 622 $2,800 **$3,400 $1,800 2.700 1,600 2,160 13.50 $8.260 1,080 $4,230 Scanned with CamScanner Plan $6,580 übos The following:information pertains to March.operations: (a) Materials purchased and received, $22,000: terms, n/30. (6) . Materials requisilloned fore production, $21,000. Of this amount: $2,400 was for indirect materials; the dlllerence was distributed: $5,300,10 Job 621; $7,400 to Job 622; and $5.900 to Job 623.remoule (c) Materials returned to the storeroom from the factory, $600, of which S200 was for indirect materials, the balance from Job 522. (d), Materials returned to vendors, $800. Richter Payroll , after: deducting 6.5% for ElCA tax and $39.970. The payroll amount due the employees mas paid or imployees' income tax, was during March, in of the payroll , direct labor represented 55%: Indirect labor, 20% sales salaries, 15%; and administrative salarles, 10%. The dired labor cost was distributod: $6,420 to Job 621; $8,160 to Job 622; and $6,320 to Job 623. (9) An An additional 9.9% was entered for employer payroll taxes, representing the employer's 6.5% FICA tax, 2.7% state unemployment Insurance tax, and -7% federal unemployment insurance tax Employer payroll taxes related to direct labor are charged to the táctory overhead control account (h) Factory-overhead, other than any previously mentioned, amounlod 10-5,500. Included in this ligure were $2,000 for deprecialion of lactory building and equipment and 5250 lo! expired insurance on the lactory. The remaining overhead, $3,250, was unpaid at the end of March, (i). Fac!ory overhead applied to production: 80% of the direct labor cost to be charged to the three jobs based on the labor cost lor , March. (0) Jobs 621 and 622 were completed and transferred to the finished goods warehouse. Both Jobs 621 and 622 were shipped and billed at a gross profil ol 40% of the cost of goods sold. (1) Cash collections from accounts receivable during March were $69,450. dilin in ilki