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Name Chapter 2 21
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-1
a.
b.
c.
d.
e.
EXERCISE 2-2
a. Cost of goods sold:
b. Direct materials cost:
c. Direct labor cost:
22 Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-3 a.
RECEIVED ISSUED BALANCE
Receiving Report Number
Quan- tity
Unit Price
Materials Requisition
Number Quan-
tity Amount Date Quan-
tity Amount Unit Price
May 1 200 $3,200 $16.00
110 240 $18.00 May 2
108 300 May 6
139 160 20.00 May 12
120 180 May 21
b.
c. JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
d.
EXERCISE 2-4
JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
Name Chapter 2 23
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-5
a. and b. JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
c. Fabric Polyester Filling Lumber Glue
24 Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-6 JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
EXERCISE 2-7
a. JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
Supporting Calculations:
b.
Name Chapter 2 25
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-8
a. and b. JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
EXERCISE 2-9
a. Factory 1 overhead rate:
b. Factory 2 overhead rate:
c. JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
d. Balance of Factory 1 accounts as of June 30:
Balance of Factory 2 accounts as of June 30:
26 Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-10
Name Chapter 2 27
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-11
a.
b.
c.
28 Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-12
a. JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
b.
Name Chapter 2 29
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-13
a.–d. JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11
12 12
13 13
14 14
15 15
16 16
17 17
18 18
19 19
20 20
21 21
EXERCISE 2-14
a.
Income Statement
30 Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-14, Concluded
b.
Materials inventory:
Work in process inventory:
Finished goods inventory:
Name Chapter 2 31
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-15
a.
Date Job No. Quantity Product Amount Unit Cost
Jan. 2 101 450 105X $ 6,000 ________
Jan. 24 125 1,500 205B 8,800 ________
Feb. 18 144 750 205B 8,000 ________
Mar. 4 162 500 105X 8,800 ________
Mar. 28 173 1,100 120T 6,000 ________
May 20 190 1,250 120T 10,500 ________
June 10 201 450 105X 6,300 ________
Aug. 9 210 1,900 120T 19,800 ________
Sept. 16 215 500 205B 4,800 ________
Nov. 11 227 650 105X 7,000 ________
Dec. 9 238 1,050 120T 24,000 ________
120T Unit Costs
Uni
t Cos
t
Job Number
32 Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-15, Continued
205B Unit Costs
Uni
t Cos
t
Job Number
105X Unit Costs
Uni
t Cos
t
Job Number
Cost performance over time for the three products:
Name Chapter 2 33
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-15, Concluded
b.
EXERCISE 2-16
a.
34 Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-16, Concluded
b.
Name Chapter 2 35
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-17
a. JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11
12 12
13 13
14 14
15 15
16 16
17 17
18 18
19 19
20 20
21 21
22 22
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24 24
25 25
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b.
36 Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
EXERCISE 2-17, Concluded
c.
EXERCISE 2-18
a.–d. JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11
12 12
Supporting calculations:
Name Chapter 2 37
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
PROBLEM 2-1 ___
a.–i. JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11
12 12
13 13
14 14
15 15
16 16
17 17
18 18
19 19
20 20
21 21
22 22
23 23
24 24
25 25
26 26
27 27
28 28
29 29
30 30
31 31
32 32
33 33
34 34
35 35
36 36
38
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
This Page Not Used.
Name Chapter 2 39
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
PROBLEM 2-2 ___
1. a.–g. JOURNAL PAGE
DATE DESCRIPTION POST.REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11
12 12
13 13
14 14
15 15
16 16
17 17
18 18
19 19
20 20
21 21
22 22
23 23
24 24
25 25
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f. Computation of cost of jobs finished:
40 Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
PROBLEM 2-2 ___, Concluded
g. Computation of cost of jobs sold:
2. Work in Process Finished Goods
3. Schedule of Unfinished Jobs
JOB DIRECT MATERIALS
DIRECT LABOR
FACTORY OVERHEAD TOTAL
4. Schedule of Completed Jobs
JOB DIRECT MATERIALS
DIRECT LABOR
FACTORY OVERHEAD TOTAL
Name Chapter 2 41
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
PROBLEM 2-3 ___
1. and 2.
JOB ORDER COST SHEET
Customer Date Address Date wanted Date completed Item Job No.
ESTIMATE
Direct Materials Direct Labor Summary Amount Amount Amount
___ meters at $ _____ ________ ___ hours at $ _____ ________ Direct materials ___________ meters at $ _____ ________ ___ hours at $ _____ ________ Direct labor ___________ meters at $ _____ ________ ___ hours at $ _____ ________ Factory overhead ___ meters at $ _____ ___ hours at $ _____ Total Total Total cost
ACTUAL
Direct Materials Direct Labor Summary Mat. Req. No.
Description Amount TimeTicket
No. Description Amount Item Amount
_____ ____________ ________ _____ ____________ ________ Direct materials _____________ ____________ ________ _____ ____________ ________ Direct labor _____________ ____________ ________ _____ ____________ ________ Factory overhead _____ ____________ _____ ____________ Total Total Total cost
Comments:
42
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
This Page Not Used.
Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
PROBLEM 2-4___
1. Supporting calculations:
Job No. Quan-
tity
__________Work in Process
Direct Materials
Direct Labor
Factory Overhead
Total Cost
Unit Cost
Units Sold
Cost of Goods Sold
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
43
44 Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
PROBLEM 2-4 ___, Concluded
2.
Name Chapter 2 45
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
PROBLEM 2-5 ___
1.
Income Statement
Supporting calculations:
46 Name Chapter 2
© 2009 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
PROBLEM 2-5 ___, Concluded
2.