subject
Business, 15.02.2021 20:00 tbiles99

Job Cost Flows, Journal Entries On April 1, Sangvikar Company had the following balances in its inventory accounts: Materials Inventory $12,720 Work-in-Process Inventory 21,350 Finished Goods Inventory 8,700 Work-in-process inventory is made up of three jobs with the following costs: Job 114 Job 115 Job 116 Direct materials $2,804 $2,640 $3,650 Direct labor 1,800 1,560 4,300 Applied overhead 1,080 936 2,580 During April, Sangvikar experienced the transactions listed below. a. Materials purchased on account, $28,000. b. Materials requisitioned: Job 114, $16,500; Job 115, $12,000; and Job 116, $5,000. c. Job tickets were collected and summarized: Job 114, 150 hours at $14 per hour; Job 115, 220 hours at $14 per hour; and Job 116, 80 hours at $18 per hour. d. Overhead is applied on the basis of direct labor cost. e. Actual overhead was $4,279. f. Job 115 was completed and transferred to the finished goods warehouse. g. (1) Job 115 was shipped, and (2) the customer was billed for 125 percent of the cost. Required: 1. Prepare journal entries for the April transactions. a. b. C. d. e. f. 9 (1). I 9 (2). I2. Calculate the ending balances of each of the inventory accounts as of April 30. Post the entries to the T-accounts in the same order in which they were journalized. Materials Work in Process Finished Goods

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 19:30
Consider the following ethical argument. which of the three statements represents the moral statement about a moral principle? statement 1: a dealership advertised a car at a very low price, but only had a similar higher priced model in stock. statement 2: it is wrong to perform a bait and switch. statement 3: the dealership was wrong to advertise the car on special sale when in actually it was not available.
Answers: 3
question
Business, 22.06.2019 01:00
Need with my trade theory homework. i doubt what i wrote was right.consider a monopolistically competitive market for soft drinks in which n symmetric firms face the following demand function: q=s(1/n-b(p-(p with the straight line on which implies the marginal revenue functionmr=p-(q/sb)finally, suppose firms face the total cost functiontc=900,000+100qsuppose the market size, s, is 27,000,000, and the elasticity parameter b is 0.003.diagram the price and the average total cost in the market as a function of the number of firms. what are the equations for each curve, and why does each curve slope up or down? label the equilibrium number of firms and the equilibrium price in the diagram. why is this the equilibrium?
Answers: 1
question
Business, 22.06.2019 15:20
Gulliver travel agencies thinks interest rates in europe are low. the firm borrows euros at 5 percent for one year. during this time period the dollar falls 11 percent against the euro. what is the effective interest rate on the loan for one year? (consider the 11 percent fall in the value of the dollar as well as the interest payment.)
Answers: 2
question
Business, 22.06.2019 20:00
If a government accumulates chronic budget deficits over time, what's one possible result? a. a collective action problem b. a debt crisis c. regulatory capture d. an unfunded liability
Answers: 2
You know the right answer?
Job Cost Flows, Journal Entries On April 1, Sangvikar Company had the following balances in its inve...
Questions
question
Mathematics, 27.04.2021 02:10
question
Mathematics, 27.04.2021 02:10
question
Mathematics, 27.04.2021 02:10
question
Arts, 27.04.2021 02:10
question
Mathematics, 27.04.2021 02:10
question
Mathematics, 27.04.2021 02:10