close solutoin list

Schedules for unfinished jobs and completed jobs Waddell Equipment Company uses a job order cost system. The following data summarize the operations related to production for April 20V t. the first month of operations: a.Materials purchased on account, $36,000. b.Materials requisitioned and factory labor used: c. Factory overhead costs incurred on account, $6,000. d.Depreciation of machinery and equipment, $1,550. e.The factory overhead rate is $40 per machine hour. Machine hours used: f. Jobs completed: 401, 402, 403, and 405. g.Jobs were shipped and customers were billed as follows: Job 401 $22,750, Job 402 $16,600, Job 403 $8,400. Instructions Prepare a schedule summarizing manufacturing costs by job for April. Use the following form:

BuyFind

Survey of Accounting (Accounting I)

8th Edition
Carl Warren
Publisher: Cengage Learning
ISBN: 9781305961883
BuyFind

Survey of Accounting (Accounting I)

8th Edition
Carl Warren
Publisher: Cengage Learning
ISBN: 9781305961883

Solutions

Chapter
Section
Chapter 10, Problem 10.2.1P
Textbook Problem

Schedules for unfinished jobs and completed jobs
Waddell Equipment Company uses a job order cost system. The following data summarize the operations related to production for April 20V t. the first month of operations:
a.Materials purchased on account, $36,000.
b.Materials requisitioned and factory labor used:

Chapter 10, Problem 10.2.1P, Schedules for unfinished jobs and completed jobs Waddell Equipment Company uses a job order cost , example  1
c. Factory overhead costs incurred on account, $6,000.
d.Depreciation of machinery and equipment, $1,550.
e.The factory overhead rate is $40 per machine hour. Machine hours used:

Chapter 10, Problem 10.2.1P, Schedules for unfinished jobs and completed jobs Waddell Equipment Company uses a job order cost , example  2
f. Jobs completed: 401, 402, 403, and 405.
g.Jobs were shipped and customers were billed as follows: Job 401 $22,750, Job 402 $16,600, Job 403 $8,400.

Instructions

Prepare a schedule summarizing manufacturing costs by job for April. Use the following form:

Chapter 10, Problem 10.2.1P, Schedules for unfinished jobs and completed jobs Waddell Equipment Company uses a job order cost , example  3

Expert Solution

Want to see this answer and more?

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

See solution

Chapter 10 Solutions

Survey of Accounting (Accounting I)
Show all chapter solutions
Ch. 10 - How does the use of the materials requisition help...Ch. 10 - a.Differentiate between the clock card and the...Ch. 10 - Describe the Source 01 the data for increasing...Ch. 10 - Discuss how the predetermined factory overhead...Ch. 10 - a.How is a predetermined factory overhead rate...Ch. 10 - a.What is (1) overapplied factory overhead and (2)...Ch. 10 - At the end of the fiscal year, there s a...Ch. 10 - What is the difference between a product cost and...Ch. 10 - Describe bow a job order cost system can be used...Ch. 10 - a. What is the objective of list-m-time...Ch. 10 - How can activity based costing be used in service...Ch. 10 - Classifying costs as materials, labor, or factory...Ch. 10 - Classifying costs as materials, labor, or factory...Ch. 10 - Classifying costs as factory overhead Which of the...Ch. 10 - Classifying costs as product or period costs For...Ch. 10 - Concepts and terminology From the choices...Ch. 10 - Transactions in a job order cost system Five...Ch. 10 - Cost flow relationships The following information...Ch. 10 - Cost of materials issuances An incomplete...Ch. 10 - Recording issuing of materials Materials issued...Ch. 10 - Amounts for materials Big Timber Furniture Company...Ch. 10 - Recording factory labor costs A summary of the...Ch. 10 - Recording factory labor costs The weekly time...Ch. 10 - Recording direct labor and factory overhead...Ch. 10 - Factory overhead rates and account balances...Ch. 10 - Predetermined factory overhead rate Novus Engine...Ch. 10 - Predetermined factory overhead rate Mt Ellis...Ch. 10 - Recording jobs completed The following account...Ch. 10 - Determining manufacturing costs Wagner Printing...Ch. 10 - Financial statements of a manufacturing firm The...Ch. 10 - Job order cost accounting entries for a service...Ch. 10 - Just-in-time principles The chief executive...Ch. 10 - Just-in-time as a strategy The American textile...Ch. 10 - Just-in-time principles Jupiter Shirt Company...Ch. 10 - Activity-based costing for a hospital Deer Lodge...Ch. 10 - Activity-based costing in an insurance company...Ch. 10 - Classifying costs The following is a list of costs...Ch. 10 - Schedules for unfinished jobs and completed jobs...Ch. 10 - Schedules for unfinished jobs and completed jobs...Ch. 10 - Schedules for unfinished jobs and completed jobs...Ch. 10 - Schedules for unfinished jobs and completed jobs...Ch. 10 - Schedules for unfinished jobs and completed jobs...Ch. 10 - Schedules for unfinished jobs and completed jobs...Ch. 10 - Job cost sheet Hallmark Furniture Company...Ch. 10 - Job cost sheet Hallmark Furniture Company...Ch. 10 - Analyzing manufacturing cost accounts Summer...Ch. 10 - Analyzing manufacturing cost accounts Summer...Ch. 10 - Flow of costs and income statement R-Tunes Inc. is...Ch. 10 - Flow of costs and income statement R-Tunes Inc. is...Ch. 10 - Unit cost analysis The management of Colfax...Ch. 10 - Unit cost analysis Hathaway Trophies Inc. uses a...Ch. 10 - Unit cost analysis Using the data from P10-3,...Ch. 10 - Unit cost analysis The controller of the plant of...Ch. 10 - Ethics and professional conduct in business...Ch. 10 - Financial vs. managerial accounting The following...Ch. 10 - Classifying costs Reboot Inc. provides computer...Ch. 10 - Classifying costs Reboot Inc. provides computer...Ch. 10 - Factory overhead rate Fabricator Inc., a...Ch. 10 - Factory overhead rate Fabricator Inc., a...Ch. 10 - Factory overhead rate Fabricator Inc., a...Ch. 10 - Classifying costs With a group of students, visit...Ch. 10 - Just-in-time principles Warm Space Inc....

Additional Business Textbook Solutions

Find more solutions based on key concepts
Show solutions
Describe leveraging and give an example of how a corporation can gain leverage by issuing bonds.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

WACC The Patrick Companys year-end balance sheet is shown below. Its cost of common equity is 16%, its before-t...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

Describe marketing uses of branding

MKTG 12:STUDENT ED.-TEXT

Differentiate between ROE and ROIC.

Fundamentals of Financial Management, Concise Edition (MindTap Course List)

What is COSO?

Accounting Information Systems