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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. Amount [DR.
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. Amount [DR. or Date July 1 Balance July 31 Direct labor July 31 Direct materials July 31 Factory overhead July 31 Transfer to finished goods Description $12,000 38,000 52,000 30,400 (80,000) points Skipped 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: 5 Multiple Choice $52.400 4 points Skipped $22,560 $40,400 30,800
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