Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Old school publishing inc began printing

05/12/2021 Client: muhammad11 Deadline: 2 Day

1.The weekly time tickets indicate the following distribution of labor hours for three direct labor employees:

Hours

Process

Job 301

Job 302

Job 303

Improvement

Tom Couro

10

15

13

2

David Clancy

12

12

14

2

Jose Cano

11

13

15

1

The direct labor rate earned per hour by the three employees is as follows:

Tom Couro

$32

David Clancy

36

Jose Cano

28

The process improvement category includes training, quality improvement, and other indirect tasks.

Answers

A.

Journalize the entry on July 15 to record the factory labor costs for the week. (3 Journal Entries)

B.

Assume that Jobs 301 and 302 were completed but not sold during the week and that Job 303 remained incomplete at the end of the week. How would the direct labor costs for all three jobs be reflected on the financial statements at the end of the week?

Cost of Goods Sold

Work In Process

Finished Goods

Factoy Overhead

Job 301

Job 302

Job 303

___________________________________________________________________________________

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 the four jobs entering production during the month are as follows, in summary form:

Job 301

Direct materials

$10,000

Direct labor

8,000

Factory overhead

6,000

Total

$24,000

Job 302

Direct materials

$20,000

Direct labor

17,000

Factory overhead

12,750

Total

$49,750

Job 303

Direct materials

$24,000

Direct labor

18,000

Factory overhead

Job 304

Direct materials

$14,000

Direct labor

12,000

Factory overhead

Required:

Journalize the Jan. 31 summary entries to record each of the following operations for January (one entry for each operation). Refer to the Chart of Accounts for exact wording of account titles.

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.

_____________________________________________________________________________________

3.Tybee Industries Inc. uses a job order cost system . The following data summarize the operations related to production for January 2016, the first month of operations:

a. Materials purchased on account, $29,800.

b. Materials requisitioned and factory labor used:

Job

Materials

Factory Labor

301

$ 2,960

$2,775

302

3,620

3,750

303

2,400

1,875

304

8,100

6,860

305

5,100

5,250

306

3,750

3,340

For general factory use

1,080

4,100

c. Factory overhead costs incurred on account, $5,500.

d. Depreciation of machinery and equipment, $1,980.

e. The factory overhead rate is $54 per machine hour. Machine hours used:

Job

Machine Hours

301

25

302

36

303

30

304

72

305

40

306

25

Total

228

f. Jobs completed: 301, 302, 303 and 305.

g. Jobs were shipped and customers were billed as follows: Job 301, $8,250; Job 302, $11,200; Job 303, $15,000.

Required:

A.

Journalize the entries to record the summarized operations. Record each item (items a-f) as an individual entry on January 31. Record item g as 2 entries. Refer to the Chart of Accounts for exact wording of account titles. (18 journal entries)

B.

Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert memo account balances as of the end of the month.

C.

Prepare a schedule of unfinished jobs to support the balance in the work in process account.*

D.

Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.*

* Refer to the list of Amount Descriptions for the exact wording of the answer choices for text entries.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Premium Solutions
Professional Coursework Help
Quality Assignments
Unique Academic Solutions
Financial Assignments
Coursework Assignment Help
Writer Writer Name Offer Chat
Premium Solutions

ONLINE

Premium Solutions

I have read your project description carefully and you will get plagiarism free writing according to your requirements. Thank You

$24 Chat With Writer
Professional Coursework Help

ONLINE

Professional Coursework Help

I have assisted scholars, business persons, startups, entrepreneurs, marketers, managers etc in their, pitches, presentations, market research, business plans etc.

$29 Chat With Writer
Quality Assignments

ONLINE

Quality Assignments

I am an academic and research writer with having an MBA degree in business and finance. I have written many business reports on several topics and am well aware of all academic referencing styles.

$15 Chat With Writer
Unique Academic Solutions

ONLINE

Unique Academic Solutions

I am an academic and research writer with having an MBA degree in business and finance. I have written many business reports on several topics and am well aware of all academic referencing styles.

$40 Chat With Writer
Financial Assignments

ONLINE

Financial Assignments

I can assist you in plagiarism free writing as I have already done several related projects of writing. I have a master qualification with 5 years’ experience in; Essay Writing, Case Study Writing, Report Writing.

$44 Chat With Writer
Coursework Assignment Help

ONLINE

Coursework Assignment Help

I have written research reports, assignments, thesis, research proposals, and dissertations for different level students and on different subjects.

$36 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Veltri corporation is working on its direct - Nec code questions and answers - Two main arguments against scientism - Indiana university northwest course catalog - Build a molecule phet - A risk response matrix contains - Making a phasing harness - C program to print 1 2 4 8 16 - Stream of consciousness in araby - Information technology for managers reynolds pdf - Oh you want too much she cried to gatsby - Inductive and deductive reasoning in economics - POSCI 3 - Half a4 is a5 - Sociology perspectives worksheet - 5s checklist for production - Medibank private cover summary - Pamela reed's theory of self transcendence - Gulliver's travels author name - Zimmer implant drill sequence - Discuss ways nursing practice is modified based on the research findings. Provide an example from the literature on either a qualitative or quantitative study that has implications for clinical practice - 16 bejar street schofields - Egg crash car lesson plan - Bul3130 - Case 2 apple's winning marketing strategy - Systematized nomenclature of medicine clinical terms snomed - If we must die by claude mckay analysis - Amico pizza lenah valley - Science court living things - Reactivity of metals experiment answers - What influenced ray bradbury to write fahrenheit 451 - Advantages and disadvantages of sum of years digits depreciation - 325 words - Everyday use dee point of view - Shannon company segments its income - Use case diagram for college admission system - Bangladesh bank admit card - Cyber Law - I need someone to write 7-9 pages in length (typed, double-spaced, 12-point) - Remove plagrism - Chapters 1 3 sam capstone project 1a - Analyzing an Argument Essay - After the titanic derek mahon - Biostatistics Discussion- Confounders - Personal philosophy of inclusive education - Architectural drawing numbering system australia - What is the scope of a survey - In eleanor antin's video art minetta lane-a ghost story, what does the ghost represent? - I need 300 words in Systematic risk, also known as "market risk" or "un-diversifiable risk" - Week 2 discussion - Dynamic business law 5th edition pdf free - Philosophy - Topic 3 DQ1 Patophysiology - Economic 6 - One page assignment - Types of naturalistic observation - Who Makes Public Policy? - 10 facts about mary mackillop - How to see gpa rmit - Forensic science - Does our state do enough to prevent distracted driving - Discussion: The Importance of Understanding the Law for Health Administrators - Mkt 571 researching marketing questions - Harvey norman franchise system - Form 6 superannuation information kit - Final Exam Research Paper - Kaplan cima live online - Ucsb library study room - Philosophy W5-Rough Draft of Signature Assignment - Minimum pitch for custom orb - Invasive Aspergillosis - Writing - Week 11 - Inverted yield curves are observed when - Project Stage 3 - Week 2 diss - Charlie morecraft net worth - Stevens college simnet online - Lucy sabre rmu manual - Introduction to Biology Discussion Question - Combustion reaction general equation - Week 3 Discussion - Surface area of a cylinder sector - Ansi tia eia 568 b 3 optical fiber standards - Tata communications emerging markets growth strategy - Queensland transport registration check - How to find probability in statcrunch - Key technology trends that raise ethical issues - Physics classroom newtons laws - Cybersecurity - Responding to Threats - The afn equation and the financial statement forecasting - Firearmsid com bullet id answers - Pharmacy Question - Crazy eddie inventory fraud - Bi-7 - In supplying private label footwear to chain retailers - Pos2112 - Ipv6 implementation in india - HW - Fin 534 homework set 1