A company's individual job sheets show these costs: A chart showing costs for Jobs 131, 132, and 133. Direct materials is RO 4585, RO 8723, and RO 1575 respectively. Direct labor is RO2385, RO 2498, and RO 2874, respectively. Overhead is applied at 1.25 times the direct labor cost. You are required to : Prepare an entry to record the assignment of direct materials to work in process. Prepare an entry to record the assignment of direct labor to work in process. Prepare an entry to record the assignment of manufacturing overhead to work in process.

A company's individual job sheets show these costs: A chart showing costs for Jobs 131, 132, and 133. Direct materials is RO 4585, RO 8723, and RO 1575 respectively. Direct labor is RO2385, RO 2498, and RO 2874, respectively. Overhead is applied at 1.25 times the direct labor cost. You are required to : Prepare an entry to record the assignment of direct materials to work in process. Prepare an entry to record the assignment of direct labor to work in process. Prepare an entry to record the assignment of manufacturing overhead to work in process.

Name: Pratice Problem 2:A company's individual job sheets show these costs:
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Description: Pratice Problem 2:A company's individual job sheets show these costs:A chart showing costs for Jobs 131, 132, and 133. Direct materials isRO 4585, RO 8723, and RO 1575 respectively. Direct labor is RO2385,RO 2498, and RO 2874, respectively.Overhead

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 14EA: A companys Individual job sheets show these costs: Overhead is applied at 1.25 times the direct...

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A new company started production. Job 1 was completed, and Job 2 remains in production. Here is the information from the job cost sheets from their first and only jobs so far: Using the Information provided. A. What Is the balance in work in process? B. What Is the balance in finished goods inventory? C. If manufacturing overhead is applied on the basis of direct labor hours, what is the predetermined overhead rate?
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