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A firm uses job costing. Details of the three jobs worked on during a period are: JOB 11 $ Job 22 $ Job 33 $
A firm uses job costing. Details of the three jobs worked on during a period are: JOB 11 $ Job 22 $ Job 33 $ 22,760 3,190 Opening work in progress Direct materials in the period Direct labour in the period 4,620 11,660 14,335 12,125 10,520 7,695 Overheads are absorbed at 40% of prime cost in each period. Jobs 22 and 33 remained incomplete at the end of the period. What is the value of the closing Work in progress? a. $66,360 b. $65,084 c. $61,894 d. $68,952
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