Question
Company uses a job-order costing system. Company had a zero balance in its work in process and finished goods inventory accounts on July 1 of
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Company uses a job-order costing system.
Company had a zero balance in its work in process and finished goods inventory accounts on July 1 of the current year. During July, Company worked on three jobs in July and incurred the following:
Job 1 Job 2 Job 3 Direct materials $12,000 $28,000 $18,000 Direct labor cost $8,000 $10,000 $5,000 Direct labor hours 200 hours 250 hours 125 hours
This content is copyrighted The company has a predetermined overhead rate of $10 per labor hour.
What is the total cost assigned to Job 1? What is total overhead applied for July? (This is inclusive of all jobs.)
Read these questions carefully so that you answer the specific questions. Total cost is different than total overhead applied. Enter only a number in the box with no commas, decimals, or dollar signs.
Company uses a job-order costing system.
Company had a zero balance in its work in process and finished goods inventory accounts on July 1 of the current year. During July, Company worked on three jobs in July and incurred the following:
| Job 1 | Job 2 | Job 3 | ||
| Direct materials | $12,000 | $28,000 | $18,000 | |
| Direct labor cost | $8,000 | $10,000 | $5,000 | |
| Direct labor hours | 200 hours | 250 hours | 125 hours |
This content is copyrighted The company has a predetermined overhead rate of $10 per labor hour.
What is the total cost assigned to Job 1? What is total overhead applied for July? (This is inclusive of all jobs.)
Read these questions carefully so that you answer the specific questions. Total cost is different than total overhead applied. Enter only a number in the box with no commas, decimals, or dollar signs.
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McGraw-Hill Education SAT 2017
Authors: Christopher Black, Mark Anestis
1st Edition
1259641651, 978-1259641657
