Chapter 17 Assignments

Chapter 17 Assignments - Chapter 17 Assignments Student:...

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Page 1 Chapter 17 Assignments 6/23/2011 1:57:20 AM .. Assignment : Chapter 17 Assignments Score for selected take: 100% (10/10) Time spent on selected take: 39 minutes, 59 seconds >> Additional Resources << Student: Victor Ovalle Jr Assignment score: 100% Total Time spent: 39 minutes, 59 seconds 1. Your answer: Exercise 17-1 Transactions in a job order cost system Five selected transactions for the current month are indicated by letters in the following T accounts in a job order cost accounting system: Describe each of the five transactions. a. Materials requisitioned for use (both direct and indirect) b. Factory labor used (both direct and indirect) c. Application of factory overhead costs to jobs d. Jobs completed e. Cost of goods sold
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Page 2 Chapter 17 Assignments 6/23/2011 1:57:20 AM .. >> Additional Resources << 2. Your answer: Exercise 17-2 Cost flow relationships The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items: Using the above information, determine the following missing amounts: a. Cost of goods sold $880000 b. Direct materials cost $520000 c. Direct labor cost $630000
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Page 3 Chapter 17 Assignments 6/23/2011 1:57:20 AM .. >> Additional Resources << 3. Your answer: Exercise 17-3 Cost of materials issuances under the FIFO method You may use any of the Additional Resources listed in the drop-down menu above to help you complete this activity, but you are not required to do so. To access each resource, click on its name in the drop-down menu above. An incomplete subsidiary ledger of wire cable for May is as follows: a. Complete the materials issuances and balances for the wire cable subsidiary ledger under FIFO. Date
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Chapter 17 Assignments - Chapter 17 Assignments Student:...

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