Dupont Fishing Equipment Company manufactures fishing rods in a wide variety of
ID: 2364138 • Letter: D
Question
Dupont Fishing Equipment Company manufactures fishing rods in a wide variety of lengths and weights. The following incomplete ledger accounts refer to transactions that are summarized for November:Materials
Nov. 1 Balance 10,000
Nov. 30 Purchases 120,000
Nov. 30 Requisitions (A)
Work in Process
Nov. 1 Balance (B)
Nov. 30 Materials (C)
Nov. 30 Direct labor (D)
Nov. 30 Factory overhead applied (E)
Nov. 30 Completed Jobs (F)
Finished Goods
Nov. 1 Balance 0
Nov. 30 Completed Jobs (F)
Nov. 30 Cost of goods sold (G)
Wages Payable
Nov. 30 Wages incurred 130,000
Factory Overhead
Nov. 1 Balance 2,500
Nov. 30 Indirect labor (H)
Nov. 30 Indirect materials 3,000
Nov. 30 Other overhead 60,000
Nov. 30 Factory overhead (E)
In addition, the following information is available:
1.Materials and direct labor were applied to six jobs in November
Job No. Style Quantity Direct Materials Direct Labor
No.111 DL-8 70 15,000 12,000
No.112 DL-18 100 23,000 18,000
No.113 DL-11 120 27,500 25,000
No.114 DL-101 100 11,000 12,500
No.115 DL-110 175 28,000 27,500
No.116 DL-14 80 15õ /x.øi5nbsp; 14,500
Total 645 119,500 109,500
2.Factory overhead is applied to each job at a rate of 75% of direct labor cost.
3.The November 1 Work in Process balance consisted of two jobs, as follows:
Job No. Style Work in Process, Nov. 1
Job 111 DL-8 20,000
Job 112 DL-18 30,000
Total 50,000
4.Customer jobs complete and units sold in November were as follows:
Job No. Style Completed in Nov. Units sold in Nov.
Job 111 DL-8 X 60
Job 112 DL-18 X 100
Job 113 DL-11 X 80
Job 114 DL-101 0
Job 115 DL-110 X 150
Job 116 DL-14 0
Instructions:
1.Determine the missing amounts associated with each letter. Provide supporting calculations by completing a table with the following headings:
Job No. Quantity Nov. 1 Direct Direct Factory Total Unit Units Cost of
Work in Materials Labor Overhead Cost Cost Sold Goods sold
2.Determine the November 30 balances for each of the inventory accounts and factory overhead.
Note: G. $245,250
Explanation / Answer
wish i can help you
Related Questions
Hire Me For All Your Tutoring Needs
Integrity-first tutoring: clear explanations, guidance, and feedback.
Drop an Email at
drjack9650@gmail.com
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.