Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 19-3 Analysis of cost flows LO C2 15 points As of the end of June, the job cost she eets at Racing Wheels, Inc.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Exercise 19-3 Analysis of cost flows LO C2 15 points As of the end of June, the job cost she eets at Racing Wheels, Inc. show the following total costs accumulated on three custom jobs Direct naterials Direct labor Job 102 3ob 103ob 104 $15,ece $33,000 $27, 000 Skipped 8,000 14, 200 21,800 Overhead applied 4,007,100 10,500 Book Hnt Ask Pint Peferences Job 102 was started $1800, and overhead, $900 Jo direct labor cost Jobs 102 and 103 were finished in June, and Job 104 is expected to be finished in July No raw indirectly in June Using this information, answer the following questions (Assume this change across these months) d in production in May and the following costs were assigned to it in May direct materials, $6.000, direct labor obs 103 and 104 were started in June Overhead cost is applied with a predetermined rate based on 4 is expected to be finished in July No raw materials were used company's predetermined overhead rate did not 1&2 Complete the table below to calculate the cost of the row materials requisitioned and direct labor cost in each of the three jobs? 3. Using the accumulated costs of the jobs, what predetermined overhead rate is used? 4. How much total cost is transferred to finished goods during June curred during June for Complete this question by entering your answers in the tabs below Req 1 and 2 Re3 Complete the table below to calculate the cost of the raw materials requistioned and direct labor Req 4 Complete this question by entering your answers in the tabs below Req 1 and 2 Req 3 Req 4 15 points Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs Skipped Direct Materials May June Total eBook 102 103 104 Total Hint Prnt Direct Labor Poferences May June Total 102 103 104 Total Req 3 > 4. How much total cost is transferred to finished goods during June? Complete this question by entering your answers in the tabs below oints Req 1 and 2 Req 3 Req 4 Skipped Using the accumulated costs of the jobs, what predetermined overhead rate is used? eBook Hint Ask Print References Overhead Rate Choose Denominator: Choose Numerator: Overhead Rate Job 102 Overhead rate Job 103 Overhead rate Job 104 Overhead rate

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

Step: 3

blur-text-image

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

Content Audits And Inventories A Handbook For Content Analysis

Authors: Paula Ladenburg Land

2nd Edition

1937434826, 978-1937434823

More Books

Students also viewed these Accounting questions

Question

Discuss the importance of health policy and political action.

Answered: 1 week ago