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Solution Chapter 20 Waterways Continuing Problem: WCP20 (A)

The document is a job cost sheet and general journal entries for a manufacturing company. It includes details of direct materials, direct labor, and manufacturing overhead costs for jobs J57 and J52. It also includes journal entries to record raw materials purchases, labor costs, overhead allocations to jobs, completion of jobs, and payment of overhead expenses. The job cost sheets calculate unit costs for the jobs based on total costs.

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Elapse Dreammaker Kibria
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500 views6 pages

Solution Chapter 20 Waterways Continuing Problem: WCP20 (A)

The document is a job cost sheet and general journal entries for a manufacturing company. It includes details of direct materials, direct labor, and manufacturing overhead costs for jobs J57 and J52. It also includes journal entries to record raw materials purchases, labor costs, overhead allocations to jobs, completion of jobs, and payment of overhead expenses. The job cost sheets calculate unit costs for the jobs based on total costs.

Uploaded by

Elapse Dreammaker Kibria
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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SOLUTION

Chapter 20 Waterways Continuing Problem


WCP20 (a)
JOB COST SHEET
Job Number_______________ Quantity______________
Date Requested____________
Item___________________ Date Completed ____________
Diret Diret
!anu"aturin#
O$er%ead Date !aterials &abor
Hours Rate 'mount
Cost Summary
Diret materials (
Diret labor
!anu"aturin# o$er%ead
Total Cost (
)nit Cost (
20-1
JOB COST SHEET
Job Number_______________ Date Initiated_________________
Date Completed_______________
Item___________________
Diret Diret
!anu"aturin#
O$er%ead Date !aterials &abor
Hours Rate 'mount
Cost Summary
Diret materials (
Diret labor
!anu"aturin# o$er%ead
Total Cost (
)nit Cost (
20-2
'ns*er +a,
JOB COST SHEET
Job Number J-.
Quantity /00 units
Date Requested De /
Date Completed De 1-
Item speial order parts
Diret Diret
!anu"aturin#
O$er%ead Date !aterials &abor
Hours Rate 'mount
/2De ( 34056
32De ( 55 / 17/ ( 386 9 ( 88-
62De 6::
82De 55 3 386 14180
102De /40::
1-2De 55 3 386 14180
Cost Summary
Diret materials ( 54556
Diret labor 186
!anu"aturin# o$er%ead 34363
Total Cost ( 1:4/08
)nit Cost +(1:4/087/00 units, (0/;::
9 60:4-.5 /411/
20-3
JOB COST SHEET
Job Number <-/
Quantity 10/ units
Date Requested De /
Date Completed De 1-
Item speial order parts
Diret Diret
!anu"aturin#
O$er%ead Date !aterials &abor
Hours Rate 'mount
/2De ( 14.30
32De ( 33 / ( 386 ( .85
62De 0::
82De 33 / 386 .85
102De 14/::
1-2De 33 / 386 .85

Cost Summary
Diret materials ( 34330
Diret labor 88
!anu"aturin# o$er%ead /4366
Total Cost ( -46/1
)nit Cost +(-46/1710/ units, ( 0:;88
9 60:4-.5 /411/
20-4
+b, =ENER'& JO)RN'&
DEBIT CREDIT
1/71 Ra* !aterials In$entory -:43/:
'ounts >ayable -:43/:
(Purchase of raw materials on account)
1/7/ ?or@ in >roess In$entory -4/:/
Ra* !aterials In$entory -4/:/
(To assign materials to jobs J57 & K52)
1/7/ ?or@ in >roess In$entory 0:4:::
!anu"aturin# O$er%ead 34:::
Ra* !aterials In$entory 034:::
(To assign materials to jobs and overhead)
1/73 ?or@ in >roess In$entory 88
Aatory &abor 88
1/73
(To assign labor to jobs J57 & K52)
or! in Process "nventor#
!anu"aturin# O$er%ead
14.81
14.81
(To assign overhead to jobs J57 & K52)

1/76 ?or@ in >roess In$entory 14/::
Ra* !aterials In$entory 14/::
(To assign materials to jobs J57 & K52)

1/78 ?or@ In >roess In$entory 88
Aatory &abor 88
1/78
(To assign labor to jobs J57 & K52)
or! in Process "nventor#
!anu"aturin# O$er%ead
1488:
1488:
(To assign overhead to jobs J57 & K52)

1/71/ Aatory &abor 504:::
Aatory ?a#es >ayable 504:::
(To record factor# labor costs and $a#ment)

1/713 !anu"aturin# O$er%ead 84:::
Cas% 84:::
(To record $a#ment of factor# water bill)

1/710 ?or@ in >roess In$entory 345::
Ra* !aterials In$entory 345::
(To assign materials to jobs J57 & K52)


20-5
1/71- ?or@ In >roess 88
Aatory &abor 88
1/71-
(To assign labor to jobs J57 & K52)
?or@ in >roess In$entory
!anu"aturin# O$er%ead
1488:
1488:
(To assign overhead to jobs J57 & K52)
=ENER'& JO)RN'&
DEBIT CREDIT
1/71- Ainis%ed =oods In$entory 154:.:
?or@ in >roess In$entory 154:.:
(To record com$letion of jobs J57 & K52)
1/716 Ainis%ed =oods In$entory 084:::
?or@ in >roess In$entory 084:::
(To record com$letion of jobs)
1/7/1 !anu"aturin# O$er%ead 1/4:::
Cas% 1/4:::
(To record $a#ment of factor# electric bill)

1/731 !anu"aturin# O$er%ead 3546::
>roperty TaBes >ayable 1/4:::
>repaid Insurane 64:::
'umulated Depreiation 1546::
(To record overhead costs)

+, 1/731 Cost o" =oods Sold 34-::
!anu"aturin# O$er%ead9 34-::
(To transfer undera$$lied overhead to cost of goods sold)
*
+d, Sine prodution in$ol$ed t%e use o" ma%inery t%at required minimal labor4 usin# ma%ine %ours as t%e
ost dri$er "or produin# t%e sprin@ler %eads *ould more aurately re"let t%e o$er%ead osts t%an *ould
diret labor;
?%en t%e irri#ation system is installed4 t%is *ould require a #reat deal o" labor and minimal ma%inery;
T%ere"ore4 t%e ost dri$er "or o$er%ead osts *ould more li@ely be diret labor osts;
20-6

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