As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Job 102 Job 103 Job 104 Direct materials $18,000 $67,000 $54,000 17,000 26,600 38,000 5,780 9,044 12,920 Direct labor Overhead applied Job 102 was started in production in May and the following costs were assigned to it in May. direct materials, $13,000; direct labor $3,900; and overhead, $1,326. Jobs 103 and 104 were started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 is expected to be finished in July. No raw materials were used indirectly in June. Using this information, answer the following questions. (Assume this company's predetermined overhead rate did not change across these months.) 182. Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs? 3. Using the accumulated costs of the jobs, what predetermined overhead rate is used? 4. How much total cost is transferred to finished goods during June? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs? Direct Materials Job May June Total 4. How much total cost is transferred to finished goods during June? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs? Direct Materials May Total ob 102 103 104 Total June Direct Labor Job 102 103 104 Total May June Total Req 1 and 2 Req3 > Overhead Rate Choose Denominator: hoose Numerator: Overhead Rate Job 102 Overhead rate Job 103 Overhead rate 0 Job 104 Overhead rate Req 1 and 2 Req 4 each of the three jobs? 3. Using the accumulated costs of the jobs, what predetermined overhead rate is used? 4. How much total cost is transferred to finished goods during June? Complete this question by entering your answers in the tabs below. Req 1 and2 Req 3 Req 4 How much total cost is transferred to finished goods during June? Direct Materials Direct Labor Applied Total Cost Finished Goods Cost Transferred to Job 102 103 104 Total $ 18,000 17,000 26,600 38,000 S 139,000 $81,600 67,000 54,000 Req 3 Req 4 Prev 33 of 33 Next >
