168 - 168 1623 1624 Assets = Liabilities Stockholders...

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Unformatted text preview: 168 1623 1624 Assets = Liabilities + Stockholders' Equity Net Income Revenues -- Expenses Accounts Receivable GoodsinProcess Inventory Finished Goods Inventory Sales Revenue Cost of Goods Sold (1) Bal $95,420 --$79,570a +$79,570 (2) +$96,425 ________ --$48,370b +$96,425 -- +$48,370 Bal $15,850 Bal $31 ,200c a$12,300 + $34, 100 + $6, 70 + $27 1 ,000 b$34,000 + $6, 70 + (300 x $27) 1 c$12,000 for job order 16 + $18,900 (700 x $27) for job order 20 Job Order Cost Sheet #89 Direct Materials $ 8,768 Direct Labor (960 x $12) 11,520 Factory Overhead (960 x $6.20) 5,952 Total Job Cost $26,240 Units 80 Cost per Unit $ 328 Assets = Liabilities + Stockholders' Equity Net Income Revenues -- Expenses Cash Accts Rec Raw Materials Inv Goodsin Process Inv Factory Overhead Finished Goods Inv Prepaid Ins Factory & Equip Accts Payable Wages Payable Property Taxes Pay Sales Revenue Cost of Goods Sold (1) +$18,500 +$18,500 (2) --$15,700 +$15,200 +$ 500 (3) +$10,945a +$ 1,700 +$12,645 (4) +$ 110 --$ 110 (5) --$6,350 +$25,650 --$2,200 --$13,500 +$3,600 (6) +$30,845b --$30,845 (7) --$56,880c +$56,880 (8) +$105,000 --$56,880 + $105,000 -- +$56,880 a995 x $11 b995 x $31 c$15,090 ($15,200 $110) direct materials + $10,945 direct labor + $30,845 applied factory overhead ...
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This note was uploaded on 04/08/2008 for the course ACC 102 taught by Professor Drucker during the Fall '07 term at Coastal Carolina University.

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168 - 168 1623 1624 Assets = Liabilities Stockholders...

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