On June 1, Landsman Company€™s work-in-process inventory consisted of three jobs with the following costs:

During June, four more jobs were started. Information about costs added to the seven jobs during June is as follows:

Before the end of June, Jobs 80, 82, 83, and 85 were completed. On June 30, Jobs 82 and 85 were sold.

Required:
1. Calculate the predetermined overhead rate based on direct labor cost.
2. Calculate the ending balance for each job as of June 30.
3. Calculate the ending balance in Work-in-Process Inventory as of June 30.
4. Calculate the cost of goods sold for June.
5. Assuming that Landsman prices its jobs at cost plus 50 percent, calculate Landsman€™s sales revenue forJune.

Transcribed Image Text:

Job 80 Job 81 Job 82 Direct materials Direct labor Ap $1,600 1,900 1,425 $2,000 1,300 975 $850 900 675 plied overhead Job 80 Job 81 Job 82 Job 83 Job 84 Job85 Job 86 Direct materials 800 $1,235 $3,550 $5,000 S300 S560 S 80 Direct labor 1,000 1,400 2,200 1,800 600 860 172