Question
Following are simplified job cost sheets for three custom jobs at the end of June for Custom Patios. Job Number 102Materials$ 45,000Labor15,000Overhead6,600Job Number 103Materials$ 52,000Labor29,900Overhead13,156Job
Following are simplified job cost sheets for three custom jobs at the end of June for Custom Patios.
Job Number 102Materials$ 45,000Labor15,000Overhead6,600Job Number 103Materials$ 52,000Labor29,900Overhead13,156Job Number 104Materials$ 61,000Labor45,000Overhead19,800
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?
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Accounting Principles Managerial Concepts
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
7th Canadian Edition
1119310296, 978-1119310297
