Question

1. Prepare Journal Entries from the following information relating to Job Costing. a) The material storeroom receives a shipment of direct and indirect materials that cost $ 12,000. b) Materials are sent to the stamping and assembly areas. The Cost of the direct materials is $ 1,500 and the cost of the indirect materials is $ 900. c) Wages totaling $ 2,000 are accrued; 70 % of these costs are direct labor and 30% are indirect labor. d) Overhead costs are allocated to work in process using an allocation rate of 150% of direct labor costs. e) Job No. 1205, with a total cost of $ 2,500 is completed

          1.    Prepare Journal Entries from the following information relating to Job Costing. a) The material storeroom receives a shipment of direct and indirect materials that cost $ 12,000. 
b) Materials are sent to the stamping and assembly areas. The Cost of the direct materials is $ 1,500 and the cost of the indirect materials is $ 900.
c) Wages totaling $ 2,000 are accrued; 70 % of these costs are direct labor and 30% are indirect labor.
d) Overhead costs are allocated to work in process using an allocation rate of 150% of direct labor costs.
e) Job No. 1205, with a total cost of $ 2,500 is completed

Added by Jimmy C.

Question

Please give Ace some feedback