View the step-by-step solution to: Just4U Company uses a job order cost system. The following data

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Just4U Company uses a job order cost system. The following data summarize the operations related to production for the month of January 20xx.
Job_Order_Cost_Problem-1.docx

(This project is worth 5% of your grade.)
Directions:
After reading the scenario, complete the task below the scenario.
Scenario:
Just4U Company uses a job order cost system. The following data summarize the
operations related to production for the month of January 20xx.
a) Materials purchased on account:

$150,000

b) Materials requisitioned and Factory labor used:
JOB ORDER
601
602
603
604
605
General Factory Use

MATERIALS
$32,400
$21,300
$28,400
$26,308
$31,225
$5,300

LABOR
$19,300
$15,200
$17,500
$16,395
$18,422
$32,400

c) Factory overhead costs incurred on account:

$34,500

d) Depreciation of machinery and equipment:

$5,100

e) The factory overhead rate is $50 per machine hour.
Job Order
601
602
603
604
605

f) Jobs completed:

Machine Hours Used
320
225
300
285
312

#601, #603, #605

g) Jobs shipped and billed: #601: $113,200, #605: $88,350
Task:
Prepare the proper t-accounts and show all balances and DETERMINE GROSS PROFIT.

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8393598.docx

(This project is worth 5% of your grade.)
Directions:
After reading the scenario, complete the task below the scenario.
Scenario:
Just4U Company uses a job order cost system. The following data...

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