Wildhorse Corporation's fiscal year ends on November 30. The following accounts are found in its...
50.1K
Verified Solution
Question
Accounting
Wildhorse Corporation's fiscal year ends on November The following accounts are found in its job order cost accounting system for The hrst month of the new fiscal year. Other data: On December two jobs were in process: Job No and Job No These jobs had combined direct materials costs of $ and combined direct labor costs of $ Overhead was applied at a rate that was of direct labor cost. During December, Job Nos. and were started. On December Job No was unfinished. This job had charges for direct materials $ and direct labor $ plus manufacturing overhead. All jobs, except for Job No were completed in December. On December Job No was in the finished goods warehouse. It had a total cost of $ On December Job No was the only finished job that was not sold. It had a cost of $ Manufacturing overhead was $ underapplied in December. List the letters a through m and indicate the amount pertaining to each letter. Dec. Beginning balance Purchases Dec. Ending balance Raw Materials Inventory Dec. Work in Process Inventory b Dee Sons completed Requisitions Dec. Beginning balance Direct materials Direct labor Overhead Dec. Ending balance d e Finished Goods Inventory g Dec. Cost of goods sold Dec Beginning balance Jobs completed Dec. Ending balance Dec. Dec. Indirect materials Indirect labor Other overhead Textbook and Media Save for Later Factory Labor Dec. Wages assigned Manufacturing Overhead Dec. Overhead applied k
Wildhorse Corporation's fiscal year ends on November The following accounts are found in its job order cost accounting system for
The hrst month of the new fiscal year.
Other data:
On December two jobs were in process: Job No and Job No These jobs had combined direct materials costs of
$ and combined direct labor costs of $ Overhead was applied at a rate that was of direct labor cost.
During December, Job Nos. and were started. On December Job No was unfinished. This job had
charges for direct materials $ and direct labor $ plus manufacturing overhead. All jobs, except for Job No
were completed in December.
On December Job No was in the finished goods warehouse. It had a total cost of $ On December Job No
was the only finished job that was not sold. It had a cost of $
Manufacturing overhead was $ underapplied in December.
List the letters a through m and indicate the amount pertaining to each letter.
Dec.
Beginning balance
Purchases
Dec.
Ending balance
Raw Materials Inventory
Dec.
Work in Process Inventory
b
Dee
Sons completed
Requisitions
Dec. Beginning balance
Direct materials
Direct labor
Overhead
Dec. Ending balance
d
e
Finished Goods Inventory
g
Dec. Cost of goods sold
Dec Beginning balance
Jobs completed
Dec. Ending balance
Dec.
Dec. Indirect materials
Indirect labor
Other overhead
Textbook and Media
Save for Later
Factory Labor
Dec.
Wages assigned
Manufacturing Overhead
Dec.
Overhead applied
k
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.