Question

Milner Company is working on two job orders. The job cost sheets show the following.

Answer 1

Answer:

Following are the solution to this question:

Explanation:

For point 1:

The stock of work in progress $(7,450 + 8,950)=\ 16,400$

inventory of raw materials $\ 16,400$

(In order to assign work materials)

For point 2:

The stock of works in progress $(4,200 + 8,250) =\ 12,450$

job in the factory $\ 12,450$

(The work is assigned)

For point 3:

Inventory job for Inventory works $(5,250+10,050)= \ 15,300$

Overhead production $\ 15,300$

(Appointment of work overhead)