es aol for 42000, actions on the general‘otfice-baoks.and on ee aang unk'and ‘assoming. that all invent r dffice In ricaton, NAS; 3 er: ‘enities: Spacecraft Co eration has Its gensea eAewoare ae records Is kept at the panera and at the f. al Income = Liability for onthe home 6tt}geiboo: recorded. The = ployment ing 7%. and employer FIGN tex () Workers-are. paid ance.rate: a Hila at $3 pir direct labor hour. the to! t0.$114;000 re gaat ese Aequired: Entries in journal‘torm to record the Januar n Wansactions, valig ai ‘In proces -tecount and two parallel vertigal columns headed Senvear omtee ana Trenton Pla accoun nt. ross profit of 25° Scanned with CamScannerorder cost accumulation Is: {1) soft drink manutacturings yer aezewen~- 3) cruide oll refining: (4) candy manufacturing. a (b) tar Job. order cost-accumulation, the alt aroun ot ne ny ie : ved In the transfer of:Inventory trom Work In Goods Is the-sum of the costs charged to I Jobs: (1) started in peacess during tho period: (2) In:procoss during the period; (3) completed an ‘sold during tha period; (4) completed during the period. = Unless otherwise-dlrected, use these retes In the exercises, problems,,and.cases.lhal follow: FICA tax, ‘tederal. unemployment Insurance ta: ‘stata unemployment Insurance ax,.2.2%. un # : : : EXERCISES { accumulation procedure dotermination, Classity these industrias with respect to the type of cost accumulation ‘procedure generally usad — job order costing or pracess costing. (a) Moat? ¢ {b) Sugarcy {e) Steel 5 (d) Breakfast cereals“)... {e}] Paper boxes (1) Wood turniturs. {p) Loc {a} Toys and novelties {9} Office machines and equipment (h) Coke at {). Luggage. . () ‘Cooking utensiis (s) Paint Caskets. 7. (“Tees ari-tubes order:cost sheet: Boia: Machine Works colletts-it costae ‘by the job. te oo ee 3 a a order costae. umulation proced: For Job.642, the following data-are available: ' *Datct Mateaus | Dect. Lavon SIEASSU Edin $1200“ Weitk of Sept'20— 160 hrs @$6.20/hr $120 Issued. 662 Week of Sept 26 — 14 ‘S0rh diz sued ¢ leek of Sept 26— 140hrs @ 7.90/hr i: Factory overhead |s applled at the rate of $3.50 per direct labor hour, Required: (1) Thé-approprlate Information onlered ona Job order cos: Pro} cost sheet. : 2 The sales price.of the Job, assuming that It was. contracted with: matkup:ol 40% of cost: Job order costing. The Cambridge Company uses Job otder cos, wo jobs wefe-in-process~~ ' gFAL.the beginning of May. Y08:269. Jona72.. ws (+ wn $2,000 8700 1,000 390 Applied factory overhead. 1500450 Scanned with CamScannerfollows: i Material s.ecsen $1,120 Direct labor (240 hours).. 1,441 Applied tactory overheag. 768 - Total. $3,328 Required .Tinewet OOD os _(1) Astatemant of the cost of goods manulactured ¢ ni or September. = 12) A calculation of the over- or underapplied factor y Overhead for Se <3 Job order costing, Williams, Inc., had the totlowAng inventories on March 1: Finished goods .. -. $15,000 Work In process... 18.070 Materiais... : 14,080 * ie} 5 can be sum Al the end of the month, the'three incomplete production (job) orders c2n Scanned with CamScanneri AR Ye nm CHAPTER 5 JOB ORDER COSTING ae . | | \ 1 The work in.process account controls three jobs: Materials. Labor ‘Applied tactory overhead... Total s purchased and received, $22,000: term, 1/30, * = requisilloned tore production, $21,000. Ot ‘this amount, $2.400"was for iiivea ihe diiference was distributed: $5,300.10 Job 621; $7,400 to Job 622:,and:$5:800 '$600, of which $200 was for indirect | $800. : ee % for: EIGA tax and 12% for. employees’. Income tax, -was mployee: during March,” epresented 55%; Indirect iract-labor cost 320'to Job 623. 6.5% Fi insurance tax. -overhead.control- account. —— See a * | (h). Factory-overhead, other than-any:previot ed,-amounted 1o-$5,500. Inclu =~ this figure: were’$2;000 for'depreciation'of tactary building -and equipment: he factory. Th 0 The remaining overhead; $3,250, was unpald-at thie-end of:the direct labor cost to be charged tthe: ished gcods warehouse: gross profit ol 40%.of-the, cost of ; Job order cost she (2) Journal enti inventory:accounts and:ta job order cost sheats, (3) A schedule: ntori ventories on March'31. S¥/Tournal entries and led 120.10 the vendor, $225... received in the Storeroom we Scanned with CamScanner