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Exercise 15-3 Analysis of cost flows LO C2, P1, P2, P3 As of the end of June, the job cost sheets at Racing Wheels, Inc.,

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Exercise 15-3 Analysis of cost flows LO C2, P1, P2, P3 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Job 102 Job 103 Job 104 $ 30,000 $47,000 $ 49,000 13,000 28,900 39,000 Overhead applied 4,290 9,537 12,870 in May: direct Job 102 was started in production in May and the following costs were assigned to it materials, $13,000; direct labor, $2,800; and overhead, $924. Jobs 103 and 104 are started in June Overhead cost is applied with a predetermined rate based on d finished in June, and Job 104 is expected to be finished in July. No raw materials are used indirectly in June. Using this information, answer the following questions. (Assume this company's predetermined overhead rate did not change across these months.) irect labor cost. Jobs 102 and 103 are 182. Complete the given below table to calcutate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs? Direct Materials: May June 102 103 104 0 0 0 Direct Labor June Total 102 103 104 Total

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