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Accounting Assignment - Job Order




See attachment for clean copy;Directions;After reading the scenario, complete the task below the scenario.;Scenario;Just4U Company uses a job order cost system. The following data summarize the operations related to production for the month of January 20xx.;a) Materials purchased on account: $150,000;b) Materials requisitioned and Factory labor used;JOB ORDER;MATERIALS;LABOR;601;$32,400;$19,300;602;$21,300;$15,200;603;$28,400;$17,500;604;$26,308;$16,395;605;$31,225;$18,422;General Factory Use;$5,300;$32,400;c) Factory overhead costs incurred on account: $34,500;d) Depreciation of machinery and equipment: $5,100;e) The factory overhead rate is $50 per machine hour.;Job Order;Machine Hours Used;601;320;602;225;603;300;604;285;605;312;f) Jobs completed: #601, #603, #605;g) Jobs shipped and billed: #601: $113,200, #605: $88,350;Task;Prepare the proper t-accounts and show all balances and DETERMINE GROSS PROFIT.


Paper#75894 | Written in 18-Jul-2015

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