setting up the T accounts for this problem christoper's custom cabinet company uses a job order c

Aug 2nd, 2016
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setting up the T accounts for this problem christoper's custom cabinet company uses a job order cost system with overhead applied as a peroentage of direct labor... Inventory balances at.. beginning 01'2013 follow, Raw materials inventory E 0,000 Work in process inventory Finished goods in 82,000 The bllowing tran.ctions occurred during January: (a)Purchased materials on account for $26,000. (b) Issued materials to production totaling $40,000, 80 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. (c)Pair,o,11=c=ing $69,700,zre recorded as follows: ,200 for factory bl'.1p:rvision 31,000 for administrative personnel 15,500 for sal. on (d)Rmord al depreciation: $8,500 for machines, 82,400 for the Dopier used in ...minis...iv° office. (e) Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative mc.pense. (0 Paid $7,800 in other fact

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Beg Bal.(a)End Bal.Raw Materials Inventory2000026000(b)6000Work-In Process Invent40000Beg Bal.(b)(c)(g)End BalBeg Bal.(h)End Bal.(b)(c)(d)(e)(f)Finished Goods Inventory3200097000(i)59000Manufaturing Overhead80005200850016007800(g)End BalSales Revenue(i)End BalCost of Goods SoldBeg Bal.(i)70000End Bal.Selling, General and Administrat(c)(d)(e)5400022900End BalOther Account (Cash, Payab9100091000(i)Work-In Process Inventory15000320001800054000(h)2200097000Cost of Goods Sold7000070000Selling, General and Administrative Expenses465002400240051300Other Account (Cash, Payable etc)(a)(c)(d)(e)(f)91000End Bal2600069700109004000780027400Gross Profit21000Manufacturing OverheadOver-applied22900Adjusted Gross Profit43900setting up the T accounts for this problemchristoper's custom cabinet company uses a job order cost systemwith overhead applied as aperoentage of direct labor... Inventory balances at.. beginning 01'2013 follow,Raw materials inventoryE 0,000Work in process inventoryFinished goods in82,000The bllowing tran.ctions occurred during January:(a)Purchased materials on account for $26,000.(b) Issued materials to production totaling $40,000, 80 percent of which was traced to spe(c)Pair,o,11=c=ing $69,700,zre recorded as follows:,200 for factory bl'.1p:rvision 31,000 for administrative personnel15,500 for sal. on (d)Rmord al depreciation: $8,50

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