Analyzing cost data, recording completion and sales of jobsSutherland Manufacturing makes carrying cases for portable electronic devices. It’s costing records yield the following information:RequirementsWhich type of costing system is Sutherland using? What piece of data did you base your answer on?Use the dates in the table to identify the status of each job at October 31 and November 30. Compute Sutherland’s account balances at October 31 for Work-in-Process Inventory, Finished Goods Inventory, and Lost of Goods Sold. Compute, by Job, account balances at November 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. TotalTotal Costof Job atOctober 31ManufacturingCosts Added inNovemberDateJobNo.StartedFinishedSold10/0310/1210/13$ 1,400210/0310/3011/011,90010/1711/2411/271,000$ 1,10010/2911/2912/036001,40011/0811/1211/1475011/2312/0612/091,100

Requirement 1: Identify the type of costing system used by Manufacturing S and the basis of…

Total Total Cost of Job at October 31 Manufacturing Costs Added in November Date Job No. Started Finished Sold 10/03 10/12 10/13 $ 1,400 2 10/03 10/30 11/01 1,900 10/17 11/24 11/27 1,000 $ 1,100 10/29 11/29 12/03 600 1,400 11/08 11/12 11/14 750 11/23 12/06 12/09 1,100

Total Total Cost of Job at October 31 Manufacturing Costs Added in November Date Job No. Started Finished Sold 10/03 10/12 10/13 $ 1,400 2 10/03 10/30 11/01 1,900 10/17 11/24 11/27 1,000 $ 1,100 10/29 11/29 12/03 600 1,400 11/08 11/12 11/14 750 11/23 12/06 12/09 1,100

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 10MC: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

Analyzing cost data, recording completion and sales of jobs

Sutherland Manufacturing makes carrying cases for portable electronic devices. It’s costing records yield the following information:

Requirements

Which type of costing system is Sutherland using? What piece of data did you base your answer on?
Use the dates in the table to identify the status of each job at October 31 and November 30. Compute Sutherland’s account balances at October 31 for Work-in-Process Inventory, Finished Goods Inventory, and Lost of Goods Sold. Compute, by Job, account balances at November 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold.

Total
Total Cost
of Job at
October 31
Manufacturing
Costs Added in
November
Date
Job
No.
Started
Finished
Sold
10/03
10/12
10/13
$ 1,400
2
10/03
10/30
11/01
1,900
10/17
11/24
11/27
1,000
$ 1,100
10/29
11/29
12/03
600
1,400
11/08
11/12
11/14
750
11/23
12/06
12/09
1,100

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