Solved

Job Order Cost System

Question 40

Essay

Job order cost system
Continental Company uses a job order cost accounting system.During March,three jobs were completed and the costs were computed as follows: job no.1,$89,000; job no.2,$58,800; job no.3,$54,000.As of March 31,the following amounts had been charged to the Work in Process Inventory controlling account in the general ledger: Job order cost system Continental Company uses a job order cost accounting system.During March,three jobs were completed and the costs were computed as follows: job no.1,$89,000; job no.2,$58,800; job no.3,$54,000.As of March 31,the following amounts had been charged to the Work in Process Inventory controlling account in the general ledger: (a)Prepare the general journal entry to reflect the jobs completed during March: (b)Compute the cost of the unfinished jobs at March 31.$__________ (a)Prepare the general journal entry to reflect the jobs completed during March: Job order cost system Continental Company uses a job order cost accounting system.During March,three jobs were completed and the costs were computed as follows: job no.1,$89,000; job no.2,$58,800; job no.3,$54,000.As of March 31,the following amounts had been charged to the Work in Process Inventory controlling account in the general ledger: (a)Prepare the general journal entry to reflect the jobs completed during March: (b)Compute the cost of the unfinished jobs at March 31.$__________ (b)Compute the cost of the unfinished jobs at March 31.$__________

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q19: Overhead application rate<br>Define the term cost driver

Q30: Job order costing cannot be used for

Q42: Alice Blue is a wholesale dress manufacturer.In

Q43: A job order cost system traces direct

Q44: Overhead application rates allow overhead to be

Q45: What are the factory utilities costs allocated

Q56: When a job is completed:<br>A)Cost of goods

Q84: The Work in Process account in a

Q99: Activity-based costing uses multiple activity bases to

Q100: An overhead application rate is a device