Reference no: EM13509882
Stine Company uses a job order cost system. On May 1, the company has a balance in Work In Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May, a summary of source documents reveals the following.
Job Number---------- Materials Requisitions Slips------------------------------- Labor Time Tickets
429 --------------------------$2,500 --------------------------------------------------------$1,900
430 --------------------------$3,500 --------------------------------------------------------$3,000
431------------------------ +$4,400------------------------------------------------------- + $7,500
-------------------------------$10,400 -------------------------------------------------------$12,500
....................................+ $800 ........................................................................+ $1,200
.....................................$11,200 .......................................................................$13,700
Stine Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 429 is completed during this month.
(a) Prepare summary journal entries to record (i) the requisition slips, (ii) the time tickets, (iii) the assignment of manufacturing overhead to jobs, and (iv) the completion of Job No. 429.
(b) Post the entries to Work in Process Inventory, and prove the agreement of the control account with the job cost sheets. (Use a T- Account).
|
Determine the amount of depreciation expense
: Determine the amount of depreciation expense for the first year under each of the following assumptions.
|
|
What is the maximum possible efficiency of this power plant
: An ocean thermal-energy power plant takes in warm surface water at a temperature of 26oC, What is the maximum possible efficiency of this power plant
|
|
Management of human services programs
: Management of Human Services Programs discusses several approaches to organizational design. Which of these approaches, or portions thereof, do you find most applicable to human service organizations, and why? Which of these approaches, or tenets, mi..
|
|
The danger of lost buying power during times
: The danger of lost buying power during times of rising prices is referred to as
|
|
Post the entries to work in process inventory
: Stine Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 429 is completed during this month.
|
|
Program have clearly defined services and procedures
: Must every program have clearly defined services and procedures that are based on best practices, or must workers be able to decide what to do with clients based on their own professional judgment and experience? Defend your answer.
|
|
Compute how long does it take motor to make one revolution
: Some bacteria are propelled by motors that spin hair-like flagella. How long does it take the motor to make one revolution
|
|
Design of a more integrated energy policy
: The film Home ends listing countries such as Iceland, Denmark, Costa Rica, and Gabon as examples of countries that: In the design of a more integrated energy policy, politicians and scientists are working together to examine such things as the cost ..
|
|
What is the mass of the nitrogen that boils away
: A 0.958 kg block of copper initially at 30.0oC, is dropped into an insulated container with a large quantity of liquid nitrogen. What is the mass of the nitrogen that boils away
|