Answer To: College: Yuba Community College Course: Accounting 1 LAB (online) Platform/Website: Cengage...
Akshay Kumar answered on Sep 21 2021
91612-question-5-and-7-5znklekx.xlsx
Chart Analysis
Job No. Overhead %
JOB8961 19%
JOB8962 31%
JOB8963 12%
JOB8964 19%
No, Nutt was not able to maintain the cost control on all of the Jobs as the Overhead cost should be between 15% to 20% but for JOB8962, Overhead cost is 31% which is higher than norm. Thus, in JOB8962, he is not able to control the cost. Overhead cost was controlled in all the remaining 3 jobs
What If Analysis
Jounal Entries T-Accounts Schedule
Particular Debit Credit Work In Progress Cost of Goods Sold Job No. Cost of Ending Working in Progress Finished Goods Cost of Goods Sold
Work In Progress $28,019.00 $28,019.00 $41,526.15 16,229.35 JOB8961 0 0 16,229.35
Direct Material Used $28,019.00 $15,276.75 JOB8962 0 5,123.75 0
$7,772.00 JOB8963 11,624.10 0 0
Work In Progress $15,276.75 $2,082.50 JOB8964 0 20,173.05 0
Direct Labour Used $15,276.75
$11,624.10 $16,229.35
Work In Progress $9,854.50
Dept 1 Overheads $7,772.00
Dept 2 Overheads $2,082.50 Finished Goods Sales
41,526.15 $16,229.35 $24,000.00
Finished Goods Inventory 41,526.15
Work in Progress $41,526.15
Cost of Goods Sold 16,229.35
Finished Goods Inventory $16,229.35 $25,296.80 $24,000.00
Account Receivable $24,000.00
Sales $24,000.00
job2-fkonu2pj.xlsx
Worksheet
JOB
Job Order Costing
Job No. XXXX
Nutt Products
Job Cost Sheet
Direct Materials
Dept. # Req. # Quantity Cost/Unit Total
$0.00
$0.00
$0.00
Total $0.00
Direct Labor
Dept. # Ticket # Hours Rate Total
1 $0.00
2 $0.00
Total $0.00
Applied Factory Overhead
Dept. # Basis Hours Cost Rate Total
1 DL hours 0 XXXX $4 $0.00
2 DL cost XXXXX 0.00 175% 0.00
Total $0.00
Total Factory Cost
Total $0.00
Sheet1
CM SPR 20
Chart
Chart
Data Table
Materials 0
Labor 0
Overhead 0
Components of Cost on This Job
Materials Labor Overhead 0 0 0
job8961-adghn53v.xlsx
Worksheet
JOB
Job Order Costing
Job No. 8961
Nutt Products
Job Cost Sheet
Direct Materials
Dept. # Req. # Quantity Cost/Unit Total
1 M66r 2,675 2.23 $5,965.25
1 M69r 280 5.72 $1,601.60
$0.00
Total $7,566.85
Direct Labor
Dept. # Ticket # Hours Rate Total
1 1056-1166 770 7.25 $5,582.50
2 $0.00
Total $5,582.50
Applied Factory Overhead
Dept. # Basis Hours Cost Rate Total
1 DL hours 770 XXXX $4 $3,080.00
2 DL cost XXXXX 0.00 175% 0.00
Total $3,080.00
Total Factory Cost
Total $16,229.35
Sheet1
CM SPR 20
Chart
Chart
Data Table
Materials 7566.85
Labor 5582.5
Overhead 3080
Components of Cost on This Job
Materials Labor Overhead 7566.85 5582.5 3080
job8962-ovlcuawz.xlsx
Worksheet
JOB
Job Order Costing
Job No. 8962
Nutt Products
Job Cost Sheet
Direct Materials
Dept. # Req. # Quantity Cost/Unit Total
1 M67r 125 18.78 $2,347.50
$0.00
$0.00
Total $2,347.50
Direct Labor
Dept. # Ticket # Hours Rate Total
1 1167-1173 50 7.25 $362.50
2 2121-2130 92 8.75 $805.00
Total $1,167.50
Applied Factory Overhead
Dept. # Basis Hours Cost Rate Total
1 DL hours 50 XXXX $4 $200.00
2 DL cost XXXXX 805.00 175% 1,408.75
Total $1,608.75
Total Factory Cost
Total $5,123.75
Sheet1
CM SPR 20
Chart
Chart
Data Table
Materials 2347.5
Labor 1167.5
Overhead 1608.75
Components of Cost on This Job
Materials Labor Overhead 2347.5 1167.5 1608.75
job8963-3hpaeyee.xlsx
Worksheet
JOB
Job Order Costing
Job No. 8963
Nutt Products
Job Cost Sheet
Direct Materials
Dept. # Req. # Quantity Cost/Unit Total
1 M68r 780 8.29 $6,466.20
2 M70r 95 22.07 $2,096.65
$0.00
Total $8,562.85
Direct Labor
Dept. # Ticket # Hours Rate Total
1 1174-1189 178 7.25 $1,290.50
2 2131-2134 44 8.75 $385.00
Total $1,675.50
Applied Factory Overhead
Dept. # Basis Hours Cost Rate Total
1 DL hours 178 XXXX $4 $712.00
2 DL cost XXXXX 385.00 175% 673.75
Total $1,385.75
Total Factory Cost
Total $11,624.10
Sheet1
CM SPR 20
Chart
Chart
Data Table
Materials 8562.85
Labor 1675.5
Overhead 1385.75
Components of Cost on This...