Please See attachment and work problems in Microsoft Excel.

Please See attachment and work problems in Microsoft Excel.

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Question 5-39
Schulberg company, a job-order costing firm, worked on three jobs in July. Data are as follows:
Job 94
Job 95
Job 96
Balance, July 1
$18,450
$0
$0
Direct Materials
$10,450
$12,300
$16,150
Direct Labor
$16,000
$12,200
$24,000
Machine Hours
500
300
1,000
Overhead is applied to jobs at the rate of $20 per machine hour. By July 31, Jobs 94 and 96
were completed. Jobs 90 and 94 were sold. Job 95 remained in process. On July 1, the balance
in Finished Goods was $49,000 (consisting of Job 90 for $25,600 and Job 92 for $23,400).
Schulberg prices its jobs at cost plus 20 percent. During July, variable marketing expenses were
5 percent of sales, and fixed marketing expenses were $2,000; administrative expenses were
$4,800.
Required:
1.
Prepare job-order cost sheets for all jobs in process during July, showing all costs
through July 31.
2.
Calculate the balance in Work in Process on July 31.
3.
Calculate the balance in Finished Goods on July 31.
4.
Calculate Cost of Goods Sold for July.
5.
Calculate operating income for Schulberg Company for the month of July.
6-52
Millie Company produces a product that passes through an assembly process and a finishing
process. All manufacturing costs are added uniformity for both processes. The following
information was obtained for the assembly department for June:
A.
A. WIP,
June 1, had 24,000 units (60 percent completed) and the following
costs:
Direct Materials
$186,256
Direct labor
64, 864

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Overhead applied
34, 400
B.
During June, 70,000 units were completed and transferred to the finishing
department, and the following costs were added to production:
Direct materials
$267,880
Direct labor
253,000
Overhead applied
117,600
C. On June 30, there were 10,000 partially completed units in process. These units
were 70 percent complete.
Required
Prepare a production report for the assembly department for June using the weighted average
method of costing. The report should disclose the physical flow of units, equivalent units, and
unit costs and should track the disposition of manufacturing costs.
Problem 6-53
Using the Millie Company above, prepare a production report for the assembly department for
June using the FIFO method of costing. The report should disclose the physical flow of units,
equivalent units, and unit costs and should track the disposition of manufacturing costs. (Carry
the unit cost computation to four decimal places.)

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