Minchoy Corporation uses a job order cost accounting system.Five jobs were worked on during the current year.The predetermined overhead rate is 20% of direct labor costs.The following cost information is available (all materials and time ticket information applies to direct costs):
Part 1-Complete the job cost sheets for each job.
Part 2-Identify the amounts of each of the following accounts at the end of the period
a.Work in Process____________________
b.Finished Goods____________________
c.Cost of Goods Sold____________________

Question

Minchoy Corporation uses a job order cost accounting system.Five jobs were worked on during the current year.The predetermined overhead rate is 20% of direct labor costs.The following cost information is available (all materials and time ticket information applies to direct costs):
  Part 1-Complete the job cost sheets for each job.
   Part 2-Identify the amounts of each of the following accounts at the end of the period
a.Work in Process____________________
b.Finished Goods____________________
c.Cost of Goods Sold____________________

Quizplus · Accepted Answer

The Answer of Minchoy Corporation uses a job order cost accounting system.Five jobs were worked on during the current year.The predetermined overhead rate is 20% of direct labor costs.The following cost information is available (all materials and time ticket information applies to direct costs):
  Part 1-Complete the job cost sheets for each job.
   Part 2-Identify the amounts of each of the following accounts at the end of the period
a.Work in Process____________________
b.Finished Goods____________________
c.Cost of Goods Sold____________________

Minchoy Corporation Uses a Job Order Cost Accounting System