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For the year ended December 31, 2022, the job cost sheets of Sandhill Company contained the following data. Job Number Explanation Direct Materials Direct Labor
For the year ended December 31, 2022, the job cost sheets of Sandhill Company contained the following data.
Job Number | Explanation | Direct Materials | Direct Labor | Manufacturing Overhead | Total Costs | |||||
---|---|---|---|---|---|---|---|---|---|---|
7640 | Balance 1/1 | $30,000 | $28,800 | $34,560 | $93,360 | |||||
Current years costs | 36,000 | 43,200 | 51,840 | 131,040 | ||||||
7641 | Balance 1/1 | 13,200 | 21,600 | 25,920 | 60,720 | |||||
Current years costs | 51,600 | 57,600 | 69,120 | 178,320 | ||||||
7642 | Current years costs | 69,600 | 66,000 | 79,200 | 214,800 |
Other data:
1. | Raw materials inventory totaled $18,000 on January 1. During the year, $168,000 of raw materials were purchased on account. | |
2. | Finished goods on January 1 consisted of Job No. 7638 for $104,400 and Job No. 7639 for $110,400. | |
3. | Job No. 7640 and Job No. 7641 were completed during the year. | |
4. | Job Nos. 7638, 7639, and 7641 were sold on account for $636,000. | |
5. | Manufacturing overhead incurred on account totaled $144,000. | |
6. | Incurred depreciation on factory machinery $9,600. | |
7. | Assigned indirect materials of $16,800 and indirect labor of $21,600. |
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