Please help with job order cost problem for accounting


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Please help with job order cost problem for accounting 1 answer below » sinatra industries, inc. uses a job order cost system. The following data summarize the operations related to production for June 2012, the first month of
operations: a. materials purhcased on acct $32,760 b. materials requisitioned and factory labor used: JOB… MATERIALS… FACTORY LABOR 301… $3,290… $3,080… 302… 4,025… 4,160… 303… 2,660… 2,080… 304… 9,030… 7,640… 305… 5,740… 5,810… 306… 4,170… 3,710… for general factory use… 1,200… 4,550… c. factory overhead costs incurred on account : $6,3 View complete question » sinatra industries, inc. uses a job order cost system. The following data summarize the operations related to production for June 2012, the first month of
operations: a. materials purhcased on acct $32,760 b. materials requisitioned and factory labor used: JOB… MATERIALS… FACTORY LABOR 301… $3,290… $3,080… 302… 4,025… 4,160… 303… 2,660… 2,080… 304… 9,030… 7,640… 305… 5,740… 5,810… 306… 4,170… 3,710… for general factory use… 1,200… 4,550… c. factory overhead costs incurred on account : $6,300 d. depreciation of machinery and equipment : $2,200 e. the factory overhead rate is $58 per machine hour. machine hours used: JOB… MACHINE HOURS 301… 26 302… 38 303… 30 304… 80 305… 40 306… 26 total… 240 f. jobs completed: 301, 302, 303, and 305 g. jobs were shipped and customers were billed as follows: Job 301 $9,150 Job 302 $12,350 Job 303 $16,600 INSTRUCTIONS>>>>>> 1. journalize the entries and record the summarized operations 2. post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as dates. Insert memo account balances as
of the end of the month. 3. prepare a schedule of unfinished jobs to support the balance in the work in process account. 4. prepare a schedule of completed jobs on hand to support the balance in the finished goods account View less » Dec 10 2013 07:09 AM

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