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Billy Baroo Company uses a job order cost system. The following information was found in the Work-in-Process account for the month of July. Date Description
Billy Baroo Company uses a job order cost system. The following information was found in the Work-in-Process account for the month of July.
Date | Description | Amount [DR. or (CR.)] | |
July 1 | Balance | $12,000 | |
July 31 | Direct labor | 38,000 | |
July 31 | Direct materials | 52,000 | |
July 31 | Factory overhead | 30,400 | |
July 31 | Transfer to finished goods | (80,000 | ) |
Billy Baroo applies overhead to production at a predetermined rate of 80% based on the direct labor cost. Job #23, the only job still in process at the end of July, has been charged with direct labor of $12,000. Direct material charged to Job #23 was:
Multiple Choice
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$40,400.
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$30,800.
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$52,400.
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$22,560.
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