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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

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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

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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

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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

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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

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EXERCISE 2-10

Name Chapter 2 27

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EXERCISE 2-11

a.

b.

c.

28 Name Chapter 2

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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

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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

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EXERCISE 2-14, Concluded

b.

Materials inventory:

Work in process inventory:

Finished goods inventory:

Name Chapter 2 31

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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

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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

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EXERCISE 2-16, Concluded

b.

Name Chapter 2 35

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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

23 23

24 24

25 25

26 26

27 27

28 28

29 29

30 30

b.

36 Name Chapter 2

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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

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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

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This Page Not Used.

Name Chapter 2 39

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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

26 26

f. Computation of cost of jobs finished:

40 Name Chapter 2

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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

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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

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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

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PROBLEM 2-4 ___, Concluded

2.

Name Chapter 2 45

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PROBLEM 2-5 ___

1.

Income Statement

Supporting calculations:

46 Name Chapter 2

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PROBLEM 2-5 ___, Concluded

2.