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Calibri (Body) 11 AAB Accessibility tab summary: Information about a company is provided in rows 2 to 4. A data table is provided in A6 to D8. Stat For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an = sign. 2. Reference cells, instead of entering values. A company that uses job order costing reports the costs incurred below. Overhead is applied at the rate of 90% of direct materials cost. The company has no beginning Work in Process or Finished Goods inventories. Jobs 1 and 3 are not finished by the end of the month, and Job 2 is finished but not sold by month-end. Required: 1. Prepare job cost sheets that have direct materials, direct labor, and overhead applied for each of the three jobs for the month. Overhead rate |of direct materials cost 2. Determine the total dollar amount of Work in Process Inventory at the end of the month. Work in process inventory 3. Determine the total dollar amount of Finished Goods Inventory at the end of the month. File Home Insert Draw Formulas Data Review View Help Cell Styles B C D E \begin{tabular}{l|l} F & G \\ \hline \end{tabular} H I J K \begin{tabular}{l|l} L & M \end{tabular} N direct materials cost. The company has no beginning Work in Process or Finished Goods inventories. Jobs 1 and 3 are not finished by the end of the month, and Job 2 is finished but not sold by month-end. \begin{tabular}{|l|c|c|c|} \hline & Job 1 & Job 2 & Job 3 \\ \hline Direct materials used & $12,500 & $11,500 & $13,500 \\ \hline Direct labor used & $18,000 & $10,000 & $7,500 \\ \hline \end{tabular} Required: 1. Prepare job cost sheets that have direct materials, direct labor, and overhead applied for each of the three jobs for the month. \begin{tabular}{|l|r|} \hline Overhead rate & 90% of direct materials cost \\ \hline \end{tabular} 2. Determine the total dollar amount of Work in Process Inventory at the end of the month. Work in process inventory 3. Determine the total dollar amount of Finished Goods Inventory at the end of the month. Finished goods inventory Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. Nothing in this area will be graded, but it will be submitted with your assignment. Calibri (Body) 11 AAB Accessibility tab summary: Information about a company is provided in rows 2 to 4. A data table is provided in A6 to D8. Stat For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an = sign. 2. Reference cells, instead of entering values. A company that uses job order costing reports the costs incurred below. Overhead is applied at the rate of 90% of direct materials cost. The company has no beginning Work in Process or Finished Goods inventories. Jobs 1 and 3 are not finished by the end of the month, and Job 2 is finished but not sold by month-end. Required: 1. Prepare job cost sheets that have direct materials, direct labor, and overhead applied for each of the three jobs for the month. Overhead rate |of direct materials cost 2. Determine the total dollar amount of Work in Process Inventory at the end of the month. Work in process inventory 3. Determine the total dollar amount of Finished Goods Inventory at the end of the month. File Home Insert Draw Formulas Data Review View Help Cell Styles B C D E \begin{tabular}{l|l} F & G \\ \hline \end{tabular} H I J K \begin{tabular}{l|l} L & M \end{tabular} N direct materials cost. The company has no beginning Work in Process or Finished Goods inventories. Jobs 1 and 3 are not finished by the end of the month, and Job 2 is finished but not sold by month-end. \begin{tabular}{|l|c|c|c|} \hline & Job 1 & Job 2 & Job 3 \\ \hline Direct materials used & $12,500 & $11,500 & $13,500 \\ \hline Direct labor used & $18,000 & $10,000 & $7,500 \\ \hline \end{tabular} Required: 1. Prepare job cost sheets that have direct materials, direct labor, and overhead applied for each of the three jobs for the month. \begin{tabular}{|l|r|} \hline Overhead rate & 90% of direct materials cost \\ \hline \end{tabular} 2. Determine the total dollar amount of Work in Process Inventory at the end of the month. Work in process inventory 3. Determine the total dollar amount of Finished Goods Inventory at the end of the month. Finished goods inventory Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. Nothing in this area will be graded, but it will be submitted with your assignment

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