Question
1) Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,500 of direct materials and used
1) Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,500 of direct materials and used $3,000 of direct labor. The job was not finished by the end of the month, but needed an additional $2,000 of direct materials and additional direct labor of $5,500 to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the total cost of the job when it is completed in October? $12,000
2)
Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,600 of direct materials and used $4,100 of direct labor. The job was not finished by the end of the month, but needed an additional $3,100 of direct materials in October and additional direct labor of $6,600 to finish the job. The company applies overhead at the end of each month at a rate of 150% of the direct labor cost. What is the amount of job costs added to Work in Process Inventory during October? |
3)
company has an overhead application rate of 124% of direct labor costs. How much overhead would be allocated to a job if it required total labor costing $23,000?
4)
Lowden Company has an overhead application rate of 164% and allocates overhead based on direct material cost. During the current period, direct labor cost is $54,000 and direct materials used cost $84,000. Determine the amount of overhead Lowden Company should record in the current period. |
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