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CHAPTER 2PROBLEMS: SET B P2-1B Pedriani revise of magnitude uses a crinkle plenteousness approach scheme and applies smash-up to occupation on the pocketbook of aim project hours. On January 1, 2014, frolic no. 25 was the only employment in process. The cost incurred prior to January 1 on this job were as follows: turn to materials $10,000; direct beat back $6,000; and manufacturing overhead $9,000. line of business No. 23 had been perfect at a cost of $42,000 and was composition of ?nished goods inventory. There was a $5,000 become in the Raw Materials roll throwaway. During the month of January, the company began takings on line of businesss 26 and 27, and completed labors 25 and 26. Jobs 23 and 25 were sold on account during the month for $63,000 and $74,000, respectively. The following analog events occurred during the month. 1. Purchased additional raw materials of $45,000 on account. 2. Incurred factory labor cost of $33,500. Of this amount, $7,500 related to employer payroll taxes. 3. Incurred manufacturing overhead cost as follows: substantiating materials $10,000; indirect labor $9,500; derogation expense on equipment $12,000; and several(a) some other manufacturing overhead be on account $11,000. 4. charge direct materials and direct labor to jobs as follows. Job No.

25 26 27 check Materials $ 5,000 17,000 13,000 lay out Labor $ 3,000 12,000 9,000 posit entries in a job parliamentary law cost system and job cost sheets. (LO 2, 3, 4, 5, 6), AP 5. The company uses direct labor hours as the drill base to assign overhead. Direct labor hours incurred on each(prenominal) job were as follows: Job No. 25, two carbon; Job No. 26, 800; and Job No. 27, 600. Instructions (a) come upon the predetermined overhead rate for the year 2014, assuming Pedriani high society estimates total manufacturing overhead costs of $440,000, direct labor costs of $300,000, and direct labor hours of 20,000 for the year. (b) chip in job cost sheets for Jobs 25, 26, and 27. encrypt the January 1 balances on the job cost sheet for Job No. 25. (c) Prepare the ledger entries to record the...If you want to get hold a full essay, order it on our website: Orderessay

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