Sarasota makes and delivers delicious meals, either ordered directly off its menu or customized to...
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Accounting
Sarasota makes and delivers delicious meals, either ordered directly off its menu or customized to its customers' specifications eg meatless or with jalapenos The company sells its meals to individual households as well as businesses and organizations throughout the metro area. In determining its financial situation at the end of April, Sarasota's accountant considered the jobs in process at the beginning of the month, along with costs and work done on jobs throughout April, and tallied costs to date on jobs that were not yet finished at the end of April, as follows. At March Job # was the only job in inventory, and it was not yet finished. At that point, it had direct material costs of $ and had used direct labor hours. During April, Sarasota requisitioned the followed direct materials costs for these jobs: $ for Job # $ for Job # and $ for Job # During April, Sarasota used the following direct labor hours for these jobs: hours for Job # hours for Job # and hours for Job # During April, the following MOH costs were recognized: depreciation on plant assets $ utility costs for the plant yet to be paid $ and salary for plant supervisor $ $ had been paid; $ was accrued By the end of April, Job # had been completed and sold on credit Job # was completed but not yet sold, and Job # had not yet been completed. Sarasota's direct labor cost is $ hour. It allocates MOH on the basis of direct labor hours. At the beginning of the year, the company expected total MOH costs to be $ and direct labor hours to be Sarasota sets its selling price at of its product costs. a Record the journal entries to capture the above April transactions. Creditarcount tilles are outbmatioully indented when the anount is entered Do not indent manually List all debit entries before credit entries Round answers to decimal ploces, es Account Titles and Explanation Debit Credit To record DM costs incurred for each job To record DM costs incurred for each job recognizing the hourly
Sarasota makes and delivers delicious meals, either ordered directly off its menu or customized to its customers' specifications eg meatless or with jalapenos The company sells its meals to individual households as well as businesses and organizations throughout the metro area.
In determining its financial situation at the end of April, Sarasota's accountant considered the jobs in process at the beginning of the month, along with costs and work done on jobs throughout April, and tallied costs to date on jobs that were not yet finished at the end of April, as follows.
At March Job # was the only job in inventory, and it was not yet finished. At that point, it had direct material costs of $ and had used direct labor hours.
During April, Sarasota requisitioned the followed direct materials costs for these jobs: $ for Job # $ for Job # and $ for Job #
During April, Sarasota used the following direct labor hours for these jobs: hours for Job # hours for Job # and hours for Job #
During April, the following MOH costs were recognized: depreciation on plant assets $ utility costs for the plant yet to be paid $ and salary for plant supervisor $ $ had been paid; $ was accrued
By the end of April, Job # had been completed and sold on credit Job # was completed but not yet sold, and Job # had not yet been completed.
Sarasota's direct labor cost is $ hour. It allocates MOH on the basis of direct labor hours. At the beginning of the year, the company expected total MOH costs to be $ and direct labor hours to be Sarasota sets its selling price at of its product costs.
a
Record the journal entries to capture the above April transactions. Creditarcount tilles are outbmatioully indented when the anount is entered Do not indent manually List all debit entries before credit entries Round answers to decimal ploces, es
Account Titles and Explanation
Debit
Credit
To record DM costs incurred for each job
To record DM costs incurred for each job recognizing the hourly
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