Please answer all questions, or just dont answer at all! :) Thank you!! The foll

Question

Please answer all questions, or just dont answer at all! :) Thank you!!

The following information applies to the questions displayed below Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined d rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per direct labor-hour Estimated total direct labor-hours to be worked Total actual manufacturing overhead costs incurred $10,000 1.1K) 2,000 $12,500 Direct materials Direct labor cost Actual direct labor-hours worked Job P Job Q $13,000 $ 8,000 $21,000 $ 7,500 1,400 400 500

Explanation / Answer

Answer 1

Raw Material A/c jobP A/c Dr. $13000

Raw Material A/c jobQ A/c Dr. $8000

To Accounts Payable A/c cr. $21000

ISSUED TO PRODUCTION

WIP A/c DR. $21000

To Raw Material A/c jobP A/c Cr. $13000

To Raw Material A/c jobQ A/c Cr. $8000

Answer 2

WIP A/c DR. $28500

To Labour Cost A/c jobP A/c Cr. $21000

To Labour Cost A/c jobQ A/c Cr. $7500

Answwr 3

Overaheads => 10000 + (1 * 2000) => 12000=> 12000 /2000 => 6 per rate

WIP A/c DR. $11400

To Overhead Cost A/c jobP A/c Cr. $8400

To overhead Cost A/c jobQ A/c Cr. $3000

Answer 4

Finished Goods A/c Dr. $60900

TO WIP A/c cr.$60900

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