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Milner Company is working on two job orders. The job cost sheets show the following.

Job 201 Job 202
Direct materials $7,450 $8,950
Direct labor 4,200 8,250
Manufacturing overhead 5,250 10,050

Required:
Prepare the three summary entries to record the assignment of costs to Work in Process from the data on the job cost sheets.

Respuesta :

Answer:

Following are the solution to this question:

Explanation:

For point 1:

The stock of work in progress [tex](7,450 + 8,950)=\$16,400[/tex]

inventory of raw materials [tex]\$16,400[/tex]

(In order to assign work materials)

For point 2:

The stock of works in progress [tex](4,200 + 8,250) =\$12,450[/tex]

job in the factory [tex]\$12,450[/tex]

(The work is assigned)

For point 3:

Inventory job for Inventory works [tex](5,250+10,050)= \$15,300[/tex]

Overhead production [tex]\$15,300[/tex]

(Appointment of work overhead)

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