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EX 19-12 Entries for factory costs and jobs completed OBJ. 2 Old School Publishing Inc. began printing operations on January 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charged directly to the jobs, $8,000 of indirect materials and $12,400 of indirect labor were used during the month. The cost sheets for v d. $73,750 the four jobs entering production during the month are as follows, in summary form: Job 301 Job 302 Direct materials $10,000 Direct materials $20,000 Direct labor 8,000 Direct labor 17,000 Factory overhead 6,000 Factory overhead 12,750 Total $24,000 Total $49,750 Job 303 Job 304 Direct materials $24,000 Direct materials $14,000 Direct labor 18,000 Direct labor 12,000 Factory overhead Factory overhead Journalize the summary entry to record each of the following operations for January (one entry for each operation): a. Direct and indirect materials used b. Direct and indirect labor used C. Factory overhead applied to all four jobs (a single overhead rate is used based on direct labor cost) d. Completion of Jobs 301 and 302

EX 19-12 Entries for factory costs and jobs completed OBJ. 2 Old School Publishing Inc. began printing operations on January 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charged directly to the jobs, $8,000 of indirect materials and $12,400 of indirect labor were used during the month. The cost sheets for v d. $73,750 the four jobs entering production during the month are as follows, in summary form: Job 301 Job 302 Direct materials $10,000 Direct materials $20,000 Direct labor 8,000 Direct labor 17,000 Factory overhead 6,000 Factory overhead 12,750 Total $24,000 Total $49,750 Job 303 Job 304 Direct materials $24,000 Direct materials $14,000 Direct labor 18,000 Direct labor 12,000 Factory overhead Factory overhead Journalize the summary entry to record each of the following operations for January (one entry for each operation): a. Direct and indirect materials used b. Direct and indirect labor used C. Factory overhead applied to all four jobs (a single overhead rate is used based on direct labor cost) d. Completion of Jobs 301 and 302

Accounting (Text Only)
Accounting (Text Only)
26th Edition
ISBN:9781285743615
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter19: Job Order Costing
Section: Chapter Questions
Problem 19.4APR: Analyzing manufacturing cost accounts Fire Rock Company manufactures Designer paddle boards in a...
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EX 19-12 Entries for factory costs and jobs completed OBJ. 2 Old School Publishing Inc. began printing operations on January 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charged directly to the jobs, $8,000 of indirect materials and $12,400 of indirect labor were used during the month. The cost sheets for v d. $73,750 the four jobs entering production during the month are as follows, in summary form: Job 301 Job 302 Direct materials $10,000 Direct materials $20,000 Direct labor 8,000 Direct labor 17,000 Factory overhead 6,000 Factory overhead 12,750 Total $24,000 Total $49,750 Job 303 Job 304 Direct materials $24,000 Direct materials $14,000 Direct labor 18,000 Direct labor 12,000 Factory overhead Factory overhead Journalize the summary entry to record each of the following operations for January (one entry for each operation): a. Direct and indirect materials used b. Direct and indirect labor used C. Factory overhead applied to all four jobs (a single overhead rate is used based on direct labor cost) d. Completion of Jobs 301 and 302
Transcribed Image Text:EX 19-12 Entries for factory costs and jobs completed OBJ. 2 Old School Publishing Inc. began printing operations on January 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charged directly to the jobs, $8,000 of indirect materials and $12,400 of indirect labor were used during the month. The cost sheets for v d. $73,750 the four jobs entering production during the month are as follows, in summary form: Job 301 Job 302 Direct materials $10,000 Direct materials $20,000 Direct labor 8,000 Direct labor 17,000 Factory overhead 6,000 Factory overhead 12,750 Total $24,000 Total $49,750 Job 303 Job 304 Direct materials $24,000 Direct materials $14,000 Direct labor 18,000 Direct labor 12,000 Factory overhead Factory overhead Journalize the summary entry to record each of the following operations for January (one entry for each operation): a. Direct and indirect materials used b. Direct and indirect labor used C. Factory overhead applied to all four jobs (a single overhead rate is used based on direct labor cost) d. Completion of Jobs 301 and 302
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