Montuori Corporation uses a job-order costing system to assign manufacturing costs to jobs.At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold.Its balance sheet on October 1 appears below:
Summaries of the transactions completed during October appear below:
Required:
a.Completely fill in the spreadsheet below.Because the page is too narrow to accommodate all of the columns,the spreadsheet has been divided into two parts that should be side by side.
b.Prepare a Schedule of Cost of Goods Sold for the company for October.
c.Prepare an Income Statement for the company for October.

Question

Montuori Corporation uses a job-order costing system to assign manufacturing costs to jobs.At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold.Its balance sheet on October 1 appears below:
  Summaries of the transactions completed during October appear below:
  Required:
a.Completely fill in the spreadsheet below.Because the page is too narrow to accommodate all of the columns,the spreadsheet has been divided into two parts that should be side by side.
   b.Prepare a Schedule of Cost of Goods Sold for the company for October.
c.Prepare an Income Statement for the company for October.

Quizplus · Accepted Answer

The Answer of Montuori Corporation uses a job-order costing system to assign manufacturing costs to jobs.At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold.Its balance sheet on October 1 appears below:
  Summaries of the transactions completed during October appear below:
  Required:
a.Completely fill in the spreadsheet below.Because the page is too narrow to accommodate all of the columns,the spreadsheet has been divided into two parts that should be side by side.
   b.Prepare a Schedule of Cost of Goods Sold for the company for October.
c.Prepare an Income Statement for the company for October.

Montuori Corporation Uses a Job-Order Costing System to Assign Manufacturing