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Determining Manufacturing Costs Wagner Printing Inc. began printing operations on July 1 . Jobs 7 - 0 1 and 7 - 0 2 were completed
Determining Manufacturing Costs
Wagner Printing Inc. began printing operations on July Jobs and were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs and are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charged directly to the jobs, $ of indirect materials and $ of indirect labor were used during the month. The cost sheets, in summary form, for the four jobs during the month are as follows:
Job Job
Direct materials Direct materials
Direct labor Direct labor
Factory overhead Factory overhead
Total Total
Job Job
Direct materials Direct materials
Direct labor Direct labor
Factory overhead Factory overhead
Determine each of the following for July:
a Direct and indirect materials used.
Direct materials used and transferred to Work in Process $fill in the blank
Indirect materials used and transferred to Factory Overhead $fill in the blank
b Direct and indirect labor used.
Direct labor used and transferred to Work in Process $fill in the blank
Indirect labor used and transferred to Factory Overhead $fill in the blank
c Factory overhead applied a single overhead rate is used based on direct labor cost
$fill in the blank
d Cost of completed Jobs and
$fill in the blank
e Assume that in addition to indirect materials and indirect labor, factory overhead of $ was incurred during July. Determine the overapplied or underapplied overhead for July.
$fill in the blank
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