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 _____________________

Minchoy Corporation Uses a Job Order Cost Accounting System