Home / Questions / The following information was taken from the job cost sheet for Job 101 for Scott Manufact...
The following information was taken from the job cost sheet for Job 101 for Scott Manufacturing Company:
Date started:July 5
Date completed:August 21
Direct Direct FactoryJob
Date Materials LabourOverhead Total
July 5$3,000
July 15$ 900$450
July 171,500
July 221,350675
August 11,500
August 21600300
Job 101 was sold on account on August 25 for 160% of its cost.
Required:
A.Prepare the journal entries to record the costs incurred for Job 101 in the current year for direct materials, direct labour, and factory overhead.
B.Prepare the journal entry to record the completion of Job 101.
C.What is the predetermined factory overhead rate for Scott?
D.Prepare the journal entries to record the sale of Job 101.
Mar 13 2020 View more View Less
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