Title: Problem 19-3B
QA_Ori:
Part 1
JOB COST SHEETS
Job No. 487
Materials…………………….$30,000
Job No. 488
Materials…………………….$20,000
Job No. 489
Materials…………………….$12,000
Job No. 490
Materials…………………….$14,000
Job No. 491
Materials…………………….$ 4,000
Part 2
a. Raw Materials Inventory……………………………………………125,000
b. Factory Payroll………………………………………………………..84,000
c. Factory Overhead…………………………………………………….11,000
d. Goods in Process Inventory………………………………………80,000
e. Goods in Process Inventory………………………………………68,000
f. Goods in Process Inventory………………………………………118,000
g. Finished Goods Inventory…………………………………………233,000
h. Accounts Receivable………………………………………………..340,000
i. Factory Overhead…………………………………………………….96,000
j. Goods in Process Inventory………………………………………18,000
Part 3
GENERAL LEDGER ACCOUNTS
Raw Materials Inventory Factory Payroll
(a) 125,000 (d) 92,000 (b) 84,000 (e) 84,000
Bal. 33,000 Bal. 0
Goods in Process Inventory Factory Overhead
Finished Goods Inventory Cost of Goods Sold
(g) 233,000 (h) 141,000 (h) 141,000
Bal. 92,000 Bal. 141,000
Part 4
Reports of Job Costs*
Goods in Process Inventory
*Individual totals reconcile with account balances shown in part 3.
Title: Problem 19-4B
QA_Ori:
Part 1
a. Predetermined overhead rate
b Overhead costs charged to jobs
Direct Applied
Job No. Labor Overhead (50%)
625……………………………………………………………….$ 354,000 $177,000
626……………………………………………………………….330,000 165,000
c. Overapplied or underapplied overhead determination
Part 2
Dec. 31 Factory Overhead…………………………………………………….11,500
Title: Problem 19-5B
QA_Ori:
JOB COST SHEET
Customer’s Name Encinita Company Job No. 450
Direct Materials Direct Labor Overhead Costs Applied
Date
Requisition
Number Amount
Time
Ticket
Number Amount Date Rate Amount
#223 16,000 #1-10 40,000 June — 70% 28,000
FI N I S H E D
JOB COST SHEET
Customer’s Name Fargo, Inc. Job No. 451
Direct Materials Direct Labor Overhead Costs Applied
Date
Requisition
Number Amount
Time
Ticket
Number Amount Date Rate Amount
MATERIALS LEDGER CARD
Item Material M
Received Issued Balance
Date
Receiving
Report Units
Unit
Price
Total
Price
Requi-
sition Units
Unit
Price
Total
Price Units
Unit
Price
Total
Price
June 1 120 200 24,00
0
0
MATERIALS LEDGER CARD
Item Material R
Received Issued Balance
Date
Receiving
Report Units
Unit
Price
Total
Price
Requi-
sition Units
Unit
Price
Total
Price Units
Unit
Price
Total
Price
June 1 80 160 12,80
0
MATERIALS LEDGER CARD
Item Paint
Received Issued Balance
Receiving Unit Total Requi- Unit Total Unit Total
Date Report Units Price Price sition Units Price Price Units Price Price
June 1 44 72 3,168
GENERAL JOURNAL
a. Raw Materials Inventory……………………………………………41,200
Accounts Payable………………………………………………. 41,200
To record materials purchases ($30,000+$11,200).
d. Factory Payroll………………………………………………………..84,000
Cash………………………………………………………………… 84,000
k. The ending balance in Factory Overhead is computed as:
Actual Factory Overhead
Miscellaneous overhead……………… $36,800
Title: Serial Problem
QA_Ori:
1.The cost of direct materials requisitioned in the month equals the total direct
materials costs accumulated on the three jobs less the amount of direct
materials cost assigned to Job 6.02 in May:
Job 6.02 ………………………………………………………………..$1,500
2.Direct labor cost incurred in the month equals the total direct labor costs
accumulated on the three jobs less the amount of direct labor cost assigned to
Job 6.02 in May:
Job 6.02 ……………………………………………………………….. $ 800
3.The predetermined overhead rate equals the ratio between the amount of
overhead assigned to the jobs divided by the amount of direct labor cost
Job 6.02 Job 6.04
4. The cost transferred to finished goods in June equals the total costs of the two
completed jobs for the month, which are Jobs 6.02 and 6.03:
Job 6.02 Job 6.03 Total