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E2-6 & E3-9 & questions - Chapter 2 3 Exercises and...

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Chapter 2 & 3 Exercises and Questions 1 Chapter 2 & 3 Exercises and Questions Fadi Fayad ACC/349 07/13/2011 JEROME STASCH
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Chapter 2 & 3 Exercises and Questions 2 Chapter 2 & 3 Exercises and Questions E2-6 A) Answer the following questions. a. What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job? Direct materials: Invoice Direct labor: Time Card Manufacturing Overhead: Overhead rate b. What is the predetermined manufacturing overhead rate? 440 + 380 + 540 = 1,360 528 + 456 + 648 = 1,632 1,632 / 1360 = 120% c. What are the total cost and the unit cost of the completed job? Total Cost: $4,825 + $1,360 + $1,632 = $7,820 Unit Cost: $7,820 / $2,000 = $3.91 B) Prepare the entry to record the completion of the job Debit Credit Finished Goods inventory for July 31 st $7,820 Work in Process Inventory 7,820
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Chapter 2 & 3 Exercises and Questions 3 E3-9 To: Marry Mahr From: Fadi Fayad Re: Inventory Marry, it seems like you are having issues with your production cost report and which might be a misunderstanding on your side.
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