Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribedimage text in transcribedimage text in transcribed

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 15,000 6,750 Job Number 103 Materials $ 58,000 Labor Overhead 28,100 12,645 Job Number 104 Materials Labor Overhead $ 64,000 45,000 20,250 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?

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_2

Step: 3

blur-text-image_3

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

Financial Accounting A User Perspective

Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry

6th Canadian Edition

470676604, 978-0470676608

More Books

Students also viewed these Accounting questions

Question

describe the distinct effects of positive emotions;

Answered: 1 week ago

Question

End your list with a period or other appropriate punctuation.

Answered: 1 week ago