if you are the auditor. What the recommendations and calculations would be for each of...

60.1K

Verified Solution

Question

Accounting

image

if you are the auditor. What the recommendations and calculations would be for each of the required questions.

Cost of goods Revenues Cost of goods sold Work-in-Procta that enc 2. Pos Ov Required 4-27 J Soluti single 1. Prepare general journal entries. Post to T-accounts. What is the ending balance of Control? costs six v 2. Show the journal entry for disposing of over- or underallocated manufacturing overhead direct quality organs. Each job is unique. In April 2021, it completed all outstanding orders, and then, in May 22 4-25 Job costing, unit cost, ending work-in-process. Rowan Company produces pipes for concen year-end write-off to Cost of Goods Sold. Post the entry to T-accounts. LO 35 Cost per pipe is $370 it worked on only two jobs, M1 and M2: B 1 Rowan Company, May 2021 2 Direct materials 3 Direct manufacturing labour Job M1 $ 75,000 275,000 Job M2 $ 56,000 209,000 Direct manufacturing labour is paid at the rate of $25 per hour. Manufacturing overhead costs are als cated at a budgeted rate of $22 per direct manufacturing labour-hour. Only Job M1 was completed in Mal Required 1. Calculate the total cost for Job M1. 2. 1,600 pipes were produced for Job M1. Calculate the cost per pipe. 3. Prepare the journal entry transferring Job M1 to finished goods. 4. What is the ending balance in the Work-in-Process Control account

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