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 $ 33,000 Labor

Following are simplified job cost sheets for three custom jobs at the end of June for Custom Patios.

Job Number 102
Materials $ 33,000
Labor 20,000
Overhead 8,600

Job Number 103
Materials $ 66,000
Labor 27,700
Overhead 11,911

Job Number 104
Materials $ 52,000
Labor 41,000
Overhead 17,630

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?

image text in transcribedimage text in transcribed

Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 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 June 102 103 104 Total Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 102 How much total cost is transferred to Finished Goods Inventory in June? Direct Job Direct Applied Materials Cost Transferred to Labor Overhead Total Cost Finished Goods $ 20,000 103 27,700 104 41,000 Total 88,700 $

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

Step: 3

blur-text-image

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

Accounting Costing And Management

Authors: Riad Izhar, Janet Hontoir

2nd Edition

9780198328230

More Books

Students also viewed these Accounting questions

Question

Does your message reiterate its main idea?

Answered: 1 week ago