Model Answer Chap. 4 - (4-38)

Model Answer Chap. 4 - (4-38) - 2,500,000 Jobs-in-Process...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter Four Job costing 4-38 General ledger relationships, under- and overallocation, service industry. 1. 1. Jobs-in-Process Control 150,000 Cash Control 150,000 2. Direct Professional Labor Control 1,500,000 Cash Control 1,500,000 3. Jobs-in-Process Control 1,450,000 Direct Professional Labor Costs Charged to Jobs 1,450,000 4. Engineering Support Overhead Control 1,140,000 Cash Control 1,140,000 5. Jobs-in-Process Control 1,160,000 Engineering Support Overhead Allocated 1,160,000 6. Cost of Jobs Billed
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 2,500,000 Jobs-in-Process Control 2,500,000 7. Accounts Receivable 3,500,000 Revenues 3,500,000 2. Direct Professional Labor Costs Charged to Jobs 1,450,000 Engineering Support Overhead Allocated 1,160,000 Cost of Jobs Billed 30,000 Direct Professional Labor Control 1,500,000 Engineering Support Overhead Control 1,140,000 3. Revenues $3,500,000 Cost of Jobs Billed ($2,500,000 + $30,000) 2,530,000 Gross Margin $ 970,000 Gross Margin percentage = $970,000 ÷ $3,500,000 = 27.7%...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online