ACC 650 Week 1 Assignment Help | Grand Canyon University

ACC 650 Week 1 Assignment Help | Grand Canyon University 


Job-Order Costing


 

Complete Problems 2-37 and 3-47 in the textbook.



Complete Problem 2-37 in a Word document and Problem 3-47 in Excel. Please note, you must show your work in Excel, which includes providing the formulas in the cells, not just the summary value. You may not earn full points if you do not show your work in detail.





Job Order Costing- Problem 2-37

 

Consider the following cost items:


1-      Salaries of players on the Boston Red Sox.

2-      Year-end completed goods of Levi Strauss jeans.

3-      Executive compensation costs at Home Depot.

4-      Advertising costs for Sony.

5-      Costs incurred during the period to insure a Ford plant against fire and flood losses.

6-      Costs incurred during the period to insure a Ford plant against fire and flood losses.

7-      Costs incurred during the period to insure a Ford plant against fire and flood losses.

8-      Assembly-line wage cost incurred at a Kona bicycle plant.

9-      Year-end production in process at Lenovo computer manufacturer.

10-  The cost of products sold to customers of a Target store.

11-The cost of products sold to distributors of carpet manufacturer Shaw Floors.


Required:



1.      Evaluate the costs just cited, and determine whether the associated dollar amounts would be found on the firm’s balance sheet, income statement, or schedule of cost-of-goods-manufactured. (Note: In some cases, more than one answer will apply.)


2. What major asset will normally be insignificant for service enterprises and relatively substantial for retailers, wholesalers, and manufacturers? Briefly discuss.

 

     3. Briefly explain the major differences between income statements of service enterprises versus      those of retailers, wholesalers, and manufacturers





Problem 3–47 Job-Order Costing in a Consulting Firm



JLR Enterprises provides consulting services throughout California and uses a job-order costing system to accumulate the cost of client projects. Traceable costs are charged directly to individual clients; in contrast, other costs incurred by JLR, but not identifiable with specific clients, are charged to jobs by using a predetermined overhead application rate. Clients are billed for directly chargeable costs, over-head, and a mark-up.

 



Save your assignment (Word) as Lastname_FirstnameACC650_T1.docx.

Save your assignment (Excel) as Lastname_FirstnameACC650_T1.xlsx.

You are not required to submit this assignment to Lopes Write.

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