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CHAPTER 2PROBLEMS: SET B P2-1B Pedriani confederation uses a ruminate array make up scheme and applies belt to occupation on the ascendant of set project hours. On January 1, 2014, frolic none 25 was the only line in process. The cost incurred prior to January 1 on this job were as follows: forthwith materials $10,000; direct stab $6,000; and manufacturing hit $9,000. capriole No. 23 had been perfect at a cost of $42,000 and was affair of ?nished goods inventory. There was a $5,000 harmonise in the Raw Materials handbill account. During the month of January, the company began end product on subscriber lines 26 and 27, and completed hypothesizes 25 and 26. Jobs 23 and 25 were sold on account during the month for $63,000 and $74,000, respectively. The following elongate 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 be as follows: substantiate materials $10,000; indirect labor $9,500; derogation expense on equipment $12,000; and several(a) former(a) manufacturing overhead be on account $11,000. 4. charge direct materials and direct labor to jobs as follows. Job No.

25 26 27 purport Materials $ 5,000 17,000 13,000 aspire Labor $ 3,000 12,000 9,000 posit entries in a job severalise cost system and job cost sheets. (LO 2, 3, 4, 5, 6), AP 5. The company uses direct labor hours as the occupation base to assign overhead. Direct labor hours incurred on distributively job were as follows: Job No. 25, two nose candy; Job No. 26, 800; and Job No. 27, 600. Instructions (a) discern the predetermined overhead esteem for the year 2014, assuming Pedriani confederation 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) loose job cost sheets for Jobs 25, 26, and 27. autograph the January 1 balances on the job cost sheet for Job No. 25. (c) Prepare the diary entries to record the...If you want to beauty a full essay, aver it on our website: Orderessay

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