Reyes Manufacturing Company uses a job order cost system. At the beginning of Ja

Q: Reyes Manufacturing Company uses a job order cost system. At the beginning of Ja

Solution: 1) Posting the Prceeding Transactions to the T-Accounts: Job 201 Job 202 Totals Direct materials $12,000 $21,000 $33,000 Direct Labor $2,150 $10,750 $12,900 Overhead $2,500 $12,500 $15,000 Total Cost Added $16,650 $44,250 $60,900 Beginning WIP $15,500 Total Cost $32,150

ID: 2467243 • Letter: R

Question

Reyes Manufacturing Company uses a job order cost system. At the beginning of January, the company had one job in process (Job 201) and one job completed but not yet sold (Job 200). Job 202 was started during January. Other select account balances follow (ignore any accounts that are not listed).

Recorded materials issued to production as follows:

Post the preceding transactions to T-accounts. (Note: Capture the offsetting of debits and credits to other accounts such as Cash, Payables, Accumulated Depreciation, and so on in Miscellaneous Accounts.)

Explanation / Answer

Solution:

1) Posting the Prceeding Transactions to the T-Accounts:

Job 201 Job 202 Totals Direct materials $12,000 $21,000 $33,000 Direct Labor $2,150 $10,750 $12,900 Overhead $2,500 $12,500 $15,000 Total Cost Added $16,650 $44,250 $60,900 Beginning WIP $15,500 Total Cost $32,150

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Reyes Manufachuring Company uses a job order cost system. Al the begining of Jan

Reyes Manufacturing Company uses a job order cost system. At the beginning of Ja

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Reyes Manufacturing Company uses a job order cost system. At the beginning of Ja

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