Exam 3: Job-Order Costing: Cost Flows and External Reporting

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What is the journal entry to record raw materials used in production?

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Overapplied manufacturing overhead would result if:

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How much is the unadjusted cost of goods sold on the Schedule of Cost of Goods Sold?

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Tenneson Corporation's cost of goods manufactured for the just completed month was $151,000 and its inventories were as follows: Tenneson Corporation's cost of goods manufactured for the just completed month was $151,000 and its inventories were as follows:   How much was the cost of goods available for sale on the Schedule of Cost of Goods Sold? How much was the cost of goods available for sale on the Schedule of Cost of Goods Sold?

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Advertising costs should NOT be charged to the Manufacturing Overhead account.

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In the Schedule of Cost of Goods Manufactured, Total direct materials = Raw materials used in production - Ending raw materials inventory.

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The manufacturing overhead was:

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St.Johns Corporation uses a job-order costing system and has provided the following partially completed summary T-accounts for the just completed period: St.Johns Corporation uses a job-order costing system and has provided the following partially completed summary T-accounts for the just completed period:     Manufacturing overhead for the period was: St.Johns Corporation uses a job-order costing system and has provided the following partially completed summary T-accounts for the just completed period:     Manufacturing overhead for the period was: Manufacturing overhead for the period was:

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The predetermined overhead rate for the year was closest to:

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How much is the direct materials cost for the month on the Schedule of Cost of Goods Manufactured?

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How much is Kapanga's cost of goods manufactured for October?

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Sefcovic Enterprises LLC recorded the following transactions for the just completed month.The company had no beginning inventories. (1)Raw materials purchased for cash, $110,000 (2)Direct materials requisitioned for use in production, $79,000 (3)Indirect materials requisitioned for use in production, $15,000 (4)Direct labor wages incurred and paid, $125,000 (5)Indirect labor wages incurred and paid, $22,000 (6)Additional manufacturing overhead costs incurred and paid, $134,000 (7)Manufacturing overhead costs applied to jobs, $125,000 (8)All of the jobs in process were completed. (9)All of the completed jobs were shipped to customers. (10)Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Required: a.Post the above transactions to the following T-accounts: Sefcovic Enterprises LLC recorded the following transactions for the just completed month.The company had no beginning inventories. (1)Raw materials purchased for cash, $110,000 (2)Direct materials requisitioned for use in production, $79,000 (3)Indirect materials requisitioned for use in production, $15,000 (4)Direct labor wages incurred and paid, $125,000 (5)Indirect labor wages incurred and paid, $22,000 (6)Additional manufacturing overhead costs incurred and paid, $134,000 (7)Manufacturing overhead costs applied to jobs, $125,000 (8)All of the jobs in process were completed. (9)All of the completed jobs were shipped to customers. (10)Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Required: a.Post the above transactions to the following T-accounts:             b.Determine the adjusted cost of goods sold for the month. Sefcovic Enterprises LLC recorded the following transactions for the just completed month.The company had no beginning inventories. (1)Raw materials purchased for cash, $110,000 (2)Direct materials requisitioned for use in production, $79,000 (3)Indirect materials requisitioned for use in production, $15,000 (4)Direct labor wages incurred and paid, $125,000 (5)Indirect labor wages incurred and paid, $22,000 (6)Additional manufacturing overhead costs incurred and paid, $134,000 (7)Manufacturing overhead costs applied to jobs, $125,000 (8)All of the jobs in process were completed. (9)All of the completed jobs were shipped to customers. (10)Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Required: a.Post the above transactions to the following T-accounts:             b.Determine the adjusted cost of goods sold for the month. Sefcovic Enterprises LLC recorded the following transactions for the just completed month.The company had no beginning inventories. (1)Raw materials purchased for cash, $110,000 (2)Direct materials requisitioned for use in production, $79,000 (3)Indirect materials requisitioned for use in production, $15,000 (4)Direct labor wages incurred and paid, $125,000 (5)Indirect labor wages incurred and paid, $22,000 (6)Additional manufacturing overhead costs incurred and paid, $134,000 (7)Manufacturing overhead costs applied to jobs, $125,000 (8)All of the jobs in process were completed. (9)All of the completed jobs were shipped to customers. (10)Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Required: a.Post the above transactions to the following T-accounts:             b.Determine the adjusted cost of goods sold for the month. Sefcovic Enterprises LLC recorded the following transactions for the just completed month.The company had no beginning inventories. (1)Raw materials purchased for cash, $110,000 (2)Direct materials requisitioned for use in production, $79,000 (3)Indirect materials requisitioned for use in production, $15,000 (4)Direct labor wages incurred and paid, $125,000 (5)Indirect labor wages incurred and paid, $22,000 (6)Additional manufacturing overhead costs incurred and paid, $134,000 (7)Manufacturing overhead costs applied to jobs, $125,000 (8)All of the jobs in process were completed. (9)All of the completed jobs were shipped to customers. (10)Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Required: a.Post the above transactions to the following T-accounts:             b.Determine the adjusted cost of goods sold for the month. Sefcovic Enterprises LLC recorded the following transactions for the just completed month.The company had no beginning inventories. (1)Raw materials purchased for cash, $110,000 (2)Direct materials requisitioned for use in production, $79,000 (3)Indirect materials requisitioned for use in production, $15,000 (4)Direct labor wages incurred and paid, $125,000 (5)Indirect labor wages incurred and paid, $22,000 (6)Additional manufacturing overhead costs incurred and paid, $134,000 (7)Manufacturing overhead costs applied to jobs, $125,000 (8)All of the jobs in process were completed. (9)All of the completed jobs were shipped to customers. (10)Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Required: a.Post the above transactions to the following T-accounts:             b.Determine the adjusted cost of goods sold for the month. Sefcovic Enterprises LLC recorded the following transactions for the just completed month.The company had no beginning inventories. (1)Raw materials purchased for cash, $110,000 (2)Direct materials requisitioned for use in production, $79,000 (3)Indirect materials requisitioned for use in production, $15,000 (4)Direct labor wages incurred and paid, $125,000 (5)Indirect labor wages incurred and paid, $22,000 (6)Additional manufacturing overhead costs incurred and paid, $134,000 (7)Manufacturing overhead costs applied to jobs, $125,000 (8)All of the jobs in process were completed. (9)All of the completed jobs were shipped to customers. (10)Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Required: a.Post the above transactions to the following T-accounts:             b.Determine the adjusted cost of goods sold for the month. b.Determine the adjusted cost of goods sold for the month.

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The debits entered in the Raw Materials account during the month of November total:

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The finished goods inventory at the end of January after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:

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The entry to dispose of the underapplied or overapplied manufacturing overhead cost for the month would include a:

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In a job-order costing system, indirect labor cost is usually recorded as a debit to:

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