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 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 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 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