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Fill in All Yellow boxes and work it out to see the correct answers PART 5 Job Order Costing To keep records of the actual
Fill in All Yellow boxes and work it out to see the correct answers
PART 5 Job Order Costing To keep records of the actual cost of a special order job, a Job Order Cost System has been developed. Overhead is applied at the rate of 50% of the direct labor cost. Job Order Costing Section On January 1, 20x2, Division S began Job 2407 for the Client, THE BIG CHILDREN STORE. The ob called for 4,000 customized lamps. The following set of transactions occurred from January 5 until the job was completed: 5-Jan Purchased 4,075 Lamp Kits @ $16.70 per kit. 9-Jan 4,125 sets of Lamp Kits were requisitioned, including all those in the Beginning Inventory. 17-Jan Payroll of 600 Direct Labor Hours @ $9.85 per hour. 30-Jan Payroll of 650 Direct Labor Hours @ $10.10 per hour. 30-Jan 3,990 lamps were completed and shipped. All materials requisitioned were used or scrapped, and are a cost of normal processing. Month End Overhead Information Actual Variable Manufacturing Overhead Actual Fixed Manufacturing Overhead $ 1,275.00 $ 40,373.45 Round to two places, $##.## Cost of Direct Material Incurred in Manufacturing Job 2407 $ 68,052.50 {13.01} Cost of Direct Labor Incurred in Manufacturing Job 2407 $ 12,475.00 {13.02 Cost of Manufacturing Overhead Applied to Job 2407 $ 41,653.00 {13.03} Cost of manufacturing one lamp $ 64.08 {13.04}Step by Step Solution
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