Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can i get help on the labor and overhead for both job numbers on the table below please a. Purchased $100,300 of raw materials on

can i get help on the labor and overhead for both job numbers on the table below please
image text in transcribed
image text in transcribed
a. Purchased $100,300 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 Job 202 Total direct materials Indirect materials Total materials used $ 48,500 23,900 72,400 8,920 $ 81,320 c. Time tickets show the following labor used for the month Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 39,500 12,900 52,400 24,500 $ 76,900 d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory 1. (1) Sold Job 201 for $164,660 on credit. (2) Record cost of goods sold for Job 2012 g. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment Ment on factory building (payable) Factory utilities (payable) Expired factory insurance Total other factory overhead costs $32,300 530 830 3100 $36,960 3 1. Prepare a job cost sheet for Job 201 and for Job 202 for the month. 2. Compute gross profit on the sale of Job 201. Complete this question by entering your answers in the tabs below. book Required 1 Required 2 rint Prepare a job cost sheet for Job 201 and for Job 202 for the month. Job Number Job Number 201 202 48,500 $ 23,900 Materials Labor Overhead

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Of Tax Regularity And Efficiency

Authors: Mohamed Aziz Boussaid

1st Edition

6206215865, 978-6206215868

More Books

Students also viewed these Accounting questions