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ACC 206 Week 3- 17-26A, 17-11A


ACC 206 Week 3- 17-26A, 17-11A fin571

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ACC 206 Week 3- 17-26A, 17-11A
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This 0 page Study Guide was uploaded by an elite notetaker on Wednesday November 11, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 26 views.


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Date Created: 11/11/15
b Chapter 16 P 1625A P 1726A 3035 min P 1726A Req 1 Job Cost Record JOB NO CUSTOMER NAME Lu Technology Co JOB DESCRIPTION 5900 DVDs DATE PROMISED 45 DATE STARTED 42 DATE COMPLETED 4 DIRECT MATERIALS DIRECT LABOR MANUFACTURING OVERHEAD A REQUISITION LABOR TIME DATE NO AMOUNT RECORD NO AMOUNT DATE RATE 4 2 63 341 655 140 4 3 125 Of direct 4 2 64 675 labor cost 4 3 74 126 656 260 Overall COSt Summ Direct materials Direct labor Manufacturing overhead allocated Totals 1142 400 Total Job Cost Cost per DVD 540000 432000 125 Req 2 Journal Entry POST DATE ACCOUNTS AND EXPLANATIONS REF DEBIT CREDIT Apr 30 Work in process inventory 1 142 Materials inventory 1142 To record use of direct materials in Job 423 30 Work in process inventory 400 Wages payable 400 To assign direct labor to Job 423 30 Work in process inventory 500 Manufacturing overhead 500 To allocate overhead to Job 423 Req 3 Journal Entry POST DATE ACCOUNTS AND EXPLANATIONS REF DEBIT CREDIT Apr 3 Finished goods inventory 2042 Work in process inventory 2042 To record completion of Job 423 5 Accounts receivable 5900 x 130 7670 Sales revenue 7670 To record the sale of 5900 DVDs 5 Cost of goods sold 2042 Finished goods inventory 2042 To record the cost of goods sold d Chapter 17 P 17A 11A Problems Group A 3045 min P 17A11A Req 1 Amy Electronics Equivalent Units Assembly Department Month Ended November 30 Step 2 Equivalent Units Whole Units Direct Conversion Materials Costs Units accounted for Completed and transferred out 95800 95800 95800 during November Ending work in process Nov 30 29200 29200 7300 Total physical units to be assigned 125000 125 0 103100 costs 29200 units x 25 7300 equivalent units continued P 17A1 1A Req 1 Amy Electronics Cost per Equivalent Unit Assembly Department Month Ended November 30 Step 3 Cost per Equivalent Direct Conversion Unit Materials Costs T tal Costs Unit Costs Beginning work in process 0 0 0 Oct 31 Costs added during November 437500 335075a 772575 Total costs to account for 437500 335075 772575 Total equivalent units 125000 103100 Cost per equivalent unit 350 325 675 a200800 Direct labor 134275 Manufacturing overhead 335075 Req 2 continued P 17A1 1A Amy Electronics Assignment of Cost Assembly Department Month Ended November 30 Direct Conversion Step 4 Assign costs Materials Costs Total Completed and transferred out during 95800 x 95800 x 646650 November 350 325 335300 31 1350 Ending work in process Nov 30 29200 x 7300 x 125925 350 325 1 02200 23725 Total costs accounted for 772575 Req 3 Work in process inventory Assembly Bal Oct 31 Direct materials 0 437500 Transferred to Programming 646650 Direct labor 200800 Manufacturing overhead 134275 Bal Nov 30 125925


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