User Account

All Pages

Determine the balance on the job cost sheets for jobs

Assignment Help Managerial Accounting
Reference no: EM132961160

At the end of August, Kaye Company had completed Jobs 40 and 42. Job 40 is for 200 units, and Job 42 is for 500 units.

The following data relate to these two jobs:

  • On August 4, raw materials were requisitioned for production as follows: 400 units for Job 40 at $20 per unit and 1,100 units for Job 42 at $18 per unit.
  • During August, Kaye Company accumulated 400 hours of direct labor costs on Job 40 and 900 hours on Job 42. The total direct labor was incurred at a rate of $22 per direct labor hour for Job 40 and $16 per direct labor hour for Job 42.
  • The predetermined factory overhead rate is $5.00 per direct labor hour.

Problem a. Determine the balance on the job cost sheets for Jobs 40 and 42 at the end of August.

Problem b. Determine the cost per unit for Jobs 40 and 42 at the end of August. If required, round your answers to the nearest cent.

Reference no: EM132961160

Questions Cloud

Journalize the four summary entries on august : Journalize the four summary entries on August 31 to record each for the month. Refer to the Chart of Accounts for exact wording of account
What is the maturity of the bond : The timeline starts at Period 0 and ends at Period 20. It shows cash flows of $30.00 in each period from Period 1 to Period 19. What is the maturity of the bond
Prepare an annual income statement for kitchen ninja knife : Prepare an annual income statement for the Kitchen Ninja knife series, including supporting calculations, from the information provided.
Estimate the firm cost of equity : Phillip Enterprises Inc. needs to determine its cost of equity capital. Use the following information to estimate the firm's cost of equity
Determine the balance on the job cost sheets for jobs : Determine the balance on the job cost sheets for Jobs 40 and 42 at the end of August. At the end of August, Kaye Company had completed Jobs 40 and 42.
How to mitigate the risk of corruption : What are the policies which can be implemented in an organisation to sensitise workers about corruption and how to mitigate the risk of corruption.
Calculate the annual rate of return for algs ltd : ALGS Ltd. wants to purchase a new machine for $29,300, excluding $1,600 in installation costs. Calculate the annual rate of return.
Development of diversity policy : Ounline legislation, codes of practice and national standards as they apply to development of diversity policy
Discuss if online courses enjoy a competitive advantage : Discuss the financial and nonfinancial considerations of attending university from home versus in a physical classroom. Discuss if online courses enjoy

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Prepare the Income Statement for year ended December

Prepare, in good form, the Income Statement for year ended December 31, 2020 with the two prior years shown for comparative purposes

  Critically evaluate arguments for selling two divisions

He wishes to make a strategic decision about the long-term viability of both the bathroom accessories division and the pipes division due to the very competitive environment both divisions are competing in. Critically evaluate the arguments for sel..

  How the cost of the brochure should be transferred

Support department allocation - As a team, recommend how the cost of the brochure should be transferred to the Customer Service Department

  Compute the total period costs are

Compute the total period costs are. You Company builds snowboards. QYou Company has reported the following costs for the year.

  What amount should be credited to paid in capital

The bonds have a market value of $760,000. What amount should be credited to Paid in Capital- in Excess of Par- Common Stock as a result of the conversion?

  What were the total costs of production

What was the cost of goods manufactured? What was fixed manufacturing overhead? What were the total costs of production?

  Prepare a cash budget for the months of october

Prepare a cash budget for the months of October, November and December 2015 and write a report on the cash position over this period, and in particular on ways in which you think it could be improved.

  What variable overhead cost should have been incurred

What variable overhead cost should have been incurred to fill the service requests for the 35,000 items? How much does this differ from the actual variable

  Why is the unit cost less for more units

The flexible budget for 2,000 units shows a unit cost of $4.60. The unit cost for 3,000 units is $4.20. Why is the unit cost less for more units

  What are the major similarities between gaap and ifrs

What are the major similarities and differences between GAAP and IFRS. Why is it important to have one set of international accounting

  Determine the appropriate discount factors

Determine the appropriate discount factors using tables and Gull Inc. is considering the acquisition of equipment that costs $510,000 and has a useful life of 6 years with no salvage value. The incremental net cash flows

  Find what would be the quick reason or acid test

Assuming your company's current assets are 1,223,000, current liabilities are 620,000 and inventory is 289,000. What would be the quick reason or acid test?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd