Venzke Corporation uses a job-order costing system to assign manufacturing costs to jobs. At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold. Its balance sheet on January 1 appears below:
Summaries of the transactions completed during January appear below:
Required:
a. Completely fill in the spreadsheet below.
b. Prepare a Balance Sheet for the company for January 31.

Question

Venzke Corporation uses a job-order costing system to assign manufacturing costs to jobs. At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold. Its balance sheet on January 1 appears below:
  Summaries of the transactions completed during January appear below:
  Required:
a. Completely fill in the spreadsheet below.
  b. Prepare a Balance Sheet for the company for January 31.

Quizplus · Accepted Answer

The Answer of Venzke Corporation uses a job-order costing system to assign manufacturing costs to jobs. At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold. Its balance sheet on January 1 appears below:
  Summaries of the transactions completed during January appear below:
  Required:
a. Completely fill in the spreadsheet below.
  b. Prepare a Balance Sheet for the company for January 31.

Venzke Corporation Uses a Job-Order Costing System to Assign Manufacturing