Question
Additional information a. Job 8 was started in April, and the following costs were assigned to it in April: direct materials, $8,000; direct labor, $2,000;
Additional information a. Job 8 was started in April, and the following costs were assigned to it in April: direct materials, $8,000; direct labor, $2,000; and applied overhead, $1,200. Job 8 was finished in May. b. Job 9 and Job 10 were started in May; Job 9 was finished in May, and Job 10 is to be completed in June. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months.Required 1. What is the total cost of direct materials requisitioned in May? 2. What is the total cost of direct labor used in May? 3. What is the predetermined overhead rate? 4. What is the total cost transferred to Finished Goods Inventory in May?
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