Instructions for Part 2 (Chapter 15) (a) Set up the job cost sheets for Job No.

Question

Instructions for Part 2 (Chapter 15) (a) Set up the job cost sheets for Job No. J57 and Job No. K52. Determine the total cost for each manufacturing special order for these jobs. (Round unit cost to nearest cent.) (b) Journalize the activities from these job cost sheets in the general journal. Also, journalize the other costs that occurred during this period of time. (c) Assuming that Mahufacturing Overhead has a credit balance of $3,600, determine whether overhead has been under/over applied and make the adjusting entry

Explanation / Answer

3) The credit balance suggest that applied overhead is more then the actual overhead incurred.

Adjusting entry is as below

Manufacturing Overhead account Dr 3,600

Cost of Goods sold Cr 3600

1) Job cost sheet JobJ 57 JobK52 Total Raw material $5,840 $2,920 $8,760 Direct Labour $198 $99 $297 Overhead $2,394 $3,391 $5,785 Total Cost $8,432 $6,410 $14,842

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