Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Following are simplified job cost sheets for three custom jobs at the end of June for Custom Patios. Job Number 102 Materials Labor Overhead $
Following are simplified job cost sheets for three custom jobs at the end of June for Custom Patios. Job Number 102 Materials Labor Overhead $ 35,000 17,000 6,800 Job Number 103 Materials $ 54,000 Labor 25,300 Overhead 10,120 Job Number 104 Materials $ 49,000 Labor Overhead 39,000 15,600 All jobs were started in June. Overhead is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 will be finished in July. 1. What was the total cost of direct materials requisitioned in June? 2. How much total direct labor cost was incurred in June? 3. How much total cost is transferred to Finished Goods Inventory in June? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Job Direct Materials How much total cost is transferred to Finished Goods Inventory in June? Direct Labor Applied Overhead Total Cost Cost Transferred to Finished Goods 102 $ 17,000 103 25,300 104 39,000 Total $ 81,300 < Req 1 and 2 3> Following are simplified job cost sheets for three custom jobs at the end of June for Custom Patios Job Number 102 Materials $ 35,000 Labor Overhead 17,000 6,800 Job Number 103 Materials $ 54,000 Labor 25,300 Overhead 10,120 Job Number 104 Materials $ 49,000 Labor Overhead 39,000 15,600 All jobs were started in June. Overhead is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 will be finished in July. 1. What was the total cost of direct materials requisitioned in June? 2. How much total direct labor cost was incurred in June? 3. How much total cost is transferred to Finished Goods Inventory in June? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 1. What was the total cost of direct materials requisitioned in June? 2. How much total direct labor cost was incurred in June? Direct Materials Job June 102 103 104 Total Direct Labor Job 102 103 104 Total June Reg 3 >
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started