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5. As of the end of June, the job cost sheets at Racing Wheels, Inc. Show the following total costs accumulated on three custom
5. As of the end of June, the job cost sheets at Racing Wheels, Inc. Show the following total costs accumulated on three custom jobs: a. What is the cost of the raw materials requisitioned in June for each of the three jobs? What is the total cost of raw materials requisitioned for June? Job 102 Less or costs Job 103 Job 104 Total materials used tioned S25 000 13000 s 12000 59 000 36 000 $127 000 b. How much direct labor cost is incurred during June for each of the three jobs? What is total direct labor cost incurred in June? Job 102 Less or costs Job 103 Job 104 Total direct labor S14 000 600 s 10400 26,700 40 000 s 77 100 c. What predetermined overhead rate is used during June? How much total cost is transferred to finished goods during June? Overhead Direct Labor Ratio Job 102 S 7000 1 000 50% Job 104 s 20000 40 000 50%
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