skip to Main Content
The smarter way
to do assignments.

Please note that this is just a preview of a school assignment posted on our website by one of our clients. If you need assistance with this question too, please click on the Order button at the bottom of the page to get started.

The entire question is posted as word doc. 
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2013 follow:
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2013 follow:
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2013 follow:
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2013 follow:
Christopher’s Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2013 follow:

Raw materials inventory $ 20,000 Work in process inventory 15,000 Finished goods inventory 32,000
Raw materials inventory $ 20,000 Work in process inventory 15,000 Finished goods inventory 32,000

Raw materials inventory $ 20,000
Raw materials inventory
Raw materials inventory
$
$
20,000
20,000
Work in process inventory 15,000
Work in process inventory
Work in process inventory

15,000
15,000
Finished goods inventory 32,000
Finished goods inventory
Finished goods inventory

32,000
32,000

The following transactions occurred during January:
The following transactions occurred during January:
The following transactions occurred during January:
The following transactions occurred during January:
The following transactions 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) Payroll costs totaling $69,700 were recorded as follows: $18,000 for assembly workers 5,200 for factory supervision 31,000 for administrative personnel 15,500 for sales commissions (d) Recorded depreciation: $8,500 for machines, $2,400 for the copier used in the administrative office. (e) Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. (f) Paid $7,800 in other factory costs in cash. (g) Applied manufacturing overhead at a rate of 300 percent of direct labor cost. (h) Completed all jobs but one; the job cost sheet for this job shows $10,000 for direct materials, $3,000 for direct labor, and $9,000 for applied overhead. (i) Sold jobs costing $70,000. The revenue earned on these jobs was $91,000.
(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) Payroll costs totaling $69,700 were recorded as follows: $18,000 for assembly workers 5,200 for factory supervision 31,000 for administrative personnel 15,500 for sales commissions (d) Recorded depreciation: $8,500 for machines, $2,400 for the copier used in the administrative office. (e) Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. (f) Paid $7,800 in other factory costs in cash. (g) Applied manufacturing overhead at a rate of 300 percent of direct labor cost. (h) Completed all jobs but one; the job cost sheet for this job shows $10,000 for direct materials, $3,000 for direct labor, and $9,000 for applied overhead. (i) Sold jobs costing $70,000. The revenue earned on these jobs was $91,000.
(a) Purchased materials on account for $26,000.
(a)
(a)
Purchased materials on account for $26,000.
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.
(b)
(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.
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) Payroll costs totaling $69,700 were recorded as follows:
(c)
(c)
Payroll costs totaling $69,700 were recorded as follows:
Payroll costs totaling $69,700 were recorded as follows:
$18,000 for assembly workers

$18,000 for assembly workers
$18,000 for assembly workers
5,200 for factory supervision

5,200 for factory supervision
5,200 for factory supervision
31,000 for administrative personnel

31,000 for administrative personnel
31,000 for administrative personnel
15,500 for sales commissions

15,500 for sales commissions
15,500 for sales commissions
(d) Recorded depreciation: $8,500 for machines, $2,400 for the copier used in the administrative office.
(d)
(d)
Recorded depreciation: $8,500 for machines, $2,400 for the copier used in the administrative office.
Recorded depreciation: $8,500 for machines, $2,400 for the copier used in the administrative office.
(e) Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense.
(e)
(e)
Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense.
Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense.
(f) Paid $7,800 in other factory costs in cash.
(f)
(f)
Paid $7,800 in other factory costs in cash.
Paid $7,800 in other factory costs in cash.
(g) Applied manufacturing overhead at a rate of 300 percent of direct labor cost.
(g)
(g)
Applied manufacturing overhead at a rate of 300 percent of direct labor cost.
Applied manufacturing overhead at a rate of 300 percent of direct labor cost.
(h) Completed all jobs but one; the job cost sheet for this job shows $10,000 for direct materials, $3,000 for direct labor, and $9,000 for applied overhead.
(h)
(h)
Completed all jobs but one; the job cost sheet for this job shows $10,000 for direct materials, $3,000 for direct labor, and $9,000 for applied overhead.
Completed all jobs but one; the job cost sheet for this job shows $10,000 for direct materials, $3,000 for direct labor, and $9,000 for applied overhead.
(i) Sold jobs costing $70,000. The revenue earned on these jobs was $91,000.
(i)
(i)
Sold jobs costing $70,000. The revenue earned on these jobs was $91,000.
Sold jobs costing $70,000. The revenue earned on these jobs was $91,000.

Required: 1. Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts:
Required: 1. Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts:
Required:
Required:
Required:
1. Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts:
1.
1.
Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts:
Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts:

a. Raw Materials Inventory. b. Work in Process Inventory. c. Finished Goods Inventory. d. Cost of Goods Sold. e. Manufacturing Overhead. f. Selling, General, and Administrative Expenses. g. Sales Revenue. h. Other accounts (Cash, Payables, etc.)
a. Raw Materials Inventory. b. Work in Process Inventory. c. Finished Goods Inventory. d. Cost of Goods Sold. e. Manufacturing Overhead. f. Selling, General, and Administrative Expenses. g. Sales Revenue. h. Other accounts (Cash, Payables, etc.)
a. Raw Materials Inventory.
a.
a.
Raw Materials Inventory.
Raw Materials Inventory.
b. Work in Process Inventory.
b.
b.
Work in Process Inventory.
Work in Process Inventory.
c. Finished Goods Inventory.
c.
c.
Finished Goods Inventory.
Finished Goods Inventory.
d. Cost of Goods Sold.
d.
d.
Cost of Goods Sold.
Cost of Goods Sold.
e. Manufacturing Overhead.
e.
e.
Manufacturing Overhead.
Manufacturing Overhead.
f. Selling, General, and Administrative Expenses.
f.
f.
Selling, General, and Administrative Expenses.
Selling, General, and Administrative Expenses.
g. Sales Revenue.
g.
g.
Sales Revenue.
Sales Revenue.
h. Other accounts (Cash, Payables, etc.)
h.
h.
Other accounts (Cash, Payables, etc.)
Other accounts (Cash, Payables, etc.)

GET HELP WITH THIS ASSIGNMENT TODAY

Clicking on this button will take you to our custom assignment page. Here you can fill out all the additional details for this particular paper (grading rubric, academic style, number of sources etc), after which your paper will get assigned to a course-specific writer. If you have any issues/concerns, please don’t hesitate to contact our live support team or email us right away.

How It Works        |        About Us       |       Contact Us

© 2018 | Intelli Essays Homework Service®

Back To Top