Bob Manufscturing makes carrying cases or portable electronic devices ts costing
ID: 2516218 • Letter: B
Question
Bob Manufscturing makes carrying cases or portable electronic devices ts costing records yield the following intormation ?(Cick the icon to view the cosing records.) Read the requirements Requirement1. Which type fcosirng syslem is Do usiny? Whal pieve of dala did you base your ariswer cr? Bob use5 a system We know this because Bcb's costing reconds show casts heing accumulated tor each Requirement 2. Use the dates in the table to iktentify the status of each job at November 30 ard Dernber 31. Coripute Bos aucounl balances at November 30 for Work-in-Process Inverntory Firiished Goods Invenlcry, and Cost of Goods Sod. Compule, by jub, account balances at Deoornbor 31 for Work-irn-Process Inventcry, Finishcd Gocds Inventory, and Cost cf Goods Sold. (fa box is rnot used in the schedule, leave the box emply, do ol select a label er enler a zero.) Prepare the November schedule first, followed by the December schedule Hob Maniutacturing Computation of Work-in-Process Inventory Finished Goods Cost of Coods Sold Inventory and For Noverrber and Decembe Date Job Cost lob Cost Job Cost November 30 Choose from any list or enter any number in the input fields and then continue to the next question.Explanation / Answer
1) Company is Using job order costing. the job no. given in the data is the hint.
2)
3) Journal Entry :-
4) Journal Entry :-
5) Gross Profit of Job 3 :-
= Sale - Cost of Goods Sold
= $2300 - $1800
= $500
Date Work in Process Finished Goods Cost of Goods Sold Nov. 30 ($900+$400)=$1300 $1700 $1900 Dec. 31 $700 ($1400+$900)=$2300 ($1900+$1700+$450)=$4050