Exercise 19-6 Computing job costs and gross profit...
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Accounting
Exercise Computing job costs and gross profit P P P Information on Kwon Mfgs activities for its first month of operations follows. Purchased $ of raw materials on credit. b Materials requisitions show the following materials used for the month. c Time tickets show the following labor used for the month. D Applied overhead to Job and to Job using a predetermined overhead rate of of direct materials cost. e Transferred Job to Finished Goods Inventory. f Sold Job for $ on credit. g Incurred the following actual other overhead costs for the month. Prepare a job cost sheet for Job and for Job for the month. Use the following simplified form. Job no Materials $ Labor Overhead Total cost $ Compute gross profit on the sale of Job
Exercise
Computing job costs and gross profit P P P
Information on Kwon Mfgs activities for its first month of operations follows.
Purchased $ of raw materials on credit.
b Materials requisitions show the following materials used for the month.
c Time tickets show the following labor used for the month.
D Applied overhead to Job and to Job using a predetermined overhead rate of of direct materials cost.
e Transferred Job to Finished Goods Inventory.
f Sold Job for $ on credit.
g Incurred the following actual other overhead costs for the month.
Prepare a job cost sheet for Job and for Job for the month. Use the following simplified form.
Job no
Materials $
Labor
Overhead
Total cost $
Compute gross profit on the sale of Job
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