Cost Flows in a Job Cost System Materials Work in Process-Assembly Dept Work in Process- Test...

Cost Flows in a Job Cost System

Materials

Work in Process-Assembly Dept

Work in Process- Test & Packaging Dept

Finished Goods


Beg Inventory
+ Purchases		Direct Materials





End Inventory

Job#1, Job#2

Job#3, Job#4


Beg Inventory		Cost of Units
+ Direct Materials		transferred out
+ Direct Labor
Job#1,#2,#3,#4
+ Factory Overhead
applied Job#1,#2,#3,#4

End Inventory Job#4

Job#1, Job#2

Job#3


Beg Inventory		Cost of Units
+ Cost of units		transferred out
transferred in
+ Direct Labor
Job#1,#2,#3
+ Factory Overhead
applied Job#1,#2,#3
End Inventory Job#2,#3

Job#1


Beg Inventory
+ Cost of units		Cost of Goods
transferred in		Sold




End Inventory Job#1

Factory Overhead


Actual Factory Overhead:
+ utilities expense		Factory overhead
+ depreciation of machinery		applied
+ supplies

Costs to date by job are shown.

Source: Job Cost Sheets:
	Job#1		Job#2		Job#3		Job#4
Direct materials	$	739	$	622	$	426	$	367
Direct labor		99		82		73		119
Overhead		146		146		126		158
	$	984	$	850	$	625	$	644

Use the flow chart to complete the following sentences.

The ending inventory balance in the Work in Process-Assembly Dept is $

The cost of goods transferred into the Work in Process-Test & Packaging Dept is $

The cost of goods transferred out of the Work in Process- Test & Packaging Dept is $

The ending inventory balance in the Work in Process- Test & Packaging Dept is $

Solutions

Expert Solution

The question has been already answered for ease answering again

	Finished goods	Work inprogress - Testing and packaging	Work in process - assembly unit
	Job 1	Job 2&3	Job 4

Beg inventory
Units transferred in	3775	3103
Direct materials			2,154.0
Direct labour		254	373.0
Factory overhead applied		418	576.0
Ending inventory		3775	3103

Ending inventory of Work in process - assembly unit					3103
Cost of goods transferred into Work inprogress - Testing and packaging					3103
Cost of goods transferred out of Work inprogress - Testing and packaging					3775
Ending inventory of Work inprogress - Testing and packaging					3775

Reason :there is no details on opening inventory of the respective jobs. The answers will vary if the details of opening inventory is available

ekkarill92 answered 1 year ago

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