This paper circulates around the core theme of Calculate the total manufacturing cost for May. Calculate the total cost of each of the three jobs as of the end of May. Calculate the balance in the Work in Process Inventory account at the end of May. together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
Windows
of the World (WOW) produces decorative windows in several styles and finishes.
The company uses a job order costing system to accumulate product costs.
Because much of the production process is automated, WOW has selected machine
hours as its overhead application base.
In May, WOW worked on three jobs. Job 69 was started in
April and completed and delivered to customers in May. Job 70 was started and finished in May, and
at the end of May, the windows from the job were in the warehouse. Job 71 was
started but not completed at the end of May.
|
69
|
70
|
71
|
|
Costs
Added in April
|
|
|
|
|
Direct materials
|
$10,000
|
|
|
|
Direct labor
|
$ 1,000
|
|
|
|
Overhead
|
$ 450
|
|
|
|
Machine hours
|
10
MH
|
|
|
|
|
|
|
|
Costs
Added in May
|
|
|
|
|
Direct materials
|
$ 5,000
|
$ 8,000
|
$ 4,000
|
|
Direct labor
|
$24,000
|
$12,000
|
$ 500
|
|
Machine hours
|
600
MH
|
500 MH
|
15
MH
|
Required
a.
Calculate
the total manufacturing cost for May.
b.
Calculate
the total cost of each of the three jobs as of the end of May.
c.
Calculate
the balance in the Work in Process Inventory account at the end of May.
d.
Calculate
the cost of goods manufactured for May.
e.
Calculate
the Cost of Goods Sold for May.
f.
Calculate
the Finished Goods Inventory balance at the end of May.
