Chung Corporation uses a job order costing 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

Chung Corporation uses a job order costing 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 Chung Corporation uses a job order costing 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________

Chung Corporation Uses a Job Order Costing System