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A job cost sheet of Chime Company is given below. Analyze job cost sheet and prepare entry for completed job. Date Direct Materials Direct Labor
A job cost sheet of Chime Company is given below.
Analyze job cost sheet and prepare entry for completed job.
Date | Direct Materials | Direct Labor | Manufacturing Overhead |
7/10 | 700 | ||
7/12 | 900 | ||
7/15 | 400 | 550 | |
7/22 | 380 | 475 | |
7/24 | 1,600 | ||
7/27 | 1,500 | ||
7/31 | 540 | 675 |
Answer the following questions:
1. What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job?
2. Overhead is applied on the basis of direct labor cost. What is the predetermined manufacturing overhead rate?
3. What are the total cost and the unit cost of the completed job? (Round unit cost to nearest cent.)
b. Prepare the entry to record the completion of the job.
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