Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. what is the cost of good sold? 2. what is yhe j

1. what is the cost of good sold? 2. what is yhe journal entry to...

50.1K

Verified Solution

Question

Accounting

image

1. what is the cost of good sold? 2. what is yhe journal entry to record the completion of jobs 102 and 103? 3. what is the journal entry to record the sale of jobs 102 and 103 on account for $295000?

Chapters 56 Lamour Corporation is a job order costing company that uses activity-based costing to apply overhead to jobs. The following overhead activities were budgeted for the year Activity Cost Driver number of setups number of parts Amount of driver $240,000 6,000 purchasing ther overhead 160,000 A 300,000 direct labor hours The following information about the jobs was given for April. 0.0 ob 101 Job 102 | Job 103 Job 104 54,00037,900 25,00011,000 1030 200 $64,900 30,500 Balance 4/1 direct materials 80,000 38,500 43,0 irect labor umber of setups umber of parts rect labor hours 30080 400 500 5,000-2,400 (3,200)| 1,200- By April 30, Jobs 102 and 103 were completed and sold. The remaining jobs were still in process

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Find the equation C 4 3 and of the hine which passes through Line 1...

Calculus
1.2K views

Find the real solutions of the equ 1 2t 1 8

Calculus
1.2K views

3 Inverse Values 3 pages max 10 pts Find all possible complex values associated with...

Accounting
1.2K views

A company has a dilutive EPS for 20X1 of 2.00 per share. Net income for...

Accounting
1.2K views

Chart of Accounts AAA Tax Service opens their business on April 1 and...

Accounting
1.2K views

What is the effect on the profits for 2012 and 2013 if depreciation on a...

Accounting
1.2K views

TufStuff, Inc., sells a wide range of drums, bins, boxes, and other containers that are...

Accounting
1.2K views

The following information pertains to a manufacturing company which uses weighted average method: Work in...

Accounting
1.2K views

9) Snowball Corporation (Snowbali) has just been created in Manitoba. The following transactions occurred in...

Accounting
1.2K views

Under what circumstances is it advantageous for a taxpayer to make a nondeductible contribution to...

Accounting
1.2K views

Swathmore Clothing Corporation grants Its customers 30 days' credit. The company uses the allowance method...

Finance
1.2K views

please complete in Excel!! thank you PROBLEM 1: Australia Inc. Given the...