Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. (7 marks) question 1 job cost sheets show the foll

(7 marks) Question 1 Job cost sheets show the following information: Job March Sold January...

90.2K

Verified Solution

Question

Accounting

image

(7 marks) Question 1 Job cost sheets show the following information: Job March Sold January $2,500 4,838 February $1,200 AA2 AA4 AA5 Total Completed February January February April Not sold February March Not sold 3,250 3,409 7,859 $2,319 2,319 7,338 Required: a) Which job(s) are still in process at the end of January, and what is the cost of this job(s)? (1 mark) b) Which job(s) were completed at the end of February, and what is the cost of this completed job(s)? (2 marks) c) What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for March? (1.5 marks) d) How does job costing in a service organisation differ from job costing in a manufacturing organisation? (2.5 marks)

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

Chemistry
1.2K views

While OLEDS are useful, sometimes they can be hard to convert to regular devices. 1)Are OLED's more...

Mechanical Engineering
1.2K views

Two parts of a machine are held together by eight equally-spaced M6x1.0 grade 5.8 bolts that...

General Management
1.2K views

5.What are subject matter experts?    The project executive board    The project sponsors    Anyone with an...

Physics
1.2K views

8 An insulating hollow cube of side 1 carries uniform charge on all of its...

Statistics
1.2K views

The lengths in kilometers of a random sample of 18 rivers on the South Island...

Calculus
1.2K views

Sketch the graph of x/6 - y/4 = 1 selecting a type of graph, then...

Algebra
1.2K views

Par on a golf course is 72. If a golfer shot rounds of 76, 67,...

Accounting
1.2K views

Question 24 Share Premium is: Jot yet nswered Marked out of 50 Select one: Flag...

Accounting
1.2K views

In terms of fraud, the "con" in "con-man" or to "con someone" is derived from...

Accounting
1.2K views

On August 1, 2011, Bonnie purchased $20,000 of Huber Co.'s 14%, 13-year bonds at face...

Accounting
1.2K views

Which of the following values is considered the market value when valuing inventory at lower-of-cost-or-market...

Accounting
1.2K views

Internal Audit: 1. How does the issuance of new regulations affect the internal audit function?...