Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hampton Company builds internal conveyor equipment to client specifications. On March 1, Job 864 was in process with a cost of $20,220 to date. During
Hampton Company builds internal conveyor equipment to client specifications. On March 1, Job 864 was in process with a cost of $20,220 to date. During March, Jobs 865, 866, and 867 were started. Data on costs added during March for all jobs are as follow: Job 864 Job 865 Job 866 Job 867 Direct Materials $13,960 $7,000 $350 $4,800 Direct Labour $13,800 $10,000 $1,500 $4,000 Overhead is applied to production at the rate of 80 percent ($0.80/DL) of direct labour cost. Job 865 was completed on March 28, and the client was billed at cost plus 55 percent. All other jobs remained in process.CUMPICICU OTTIVIATCI ZO, aria the Client was Died at cost plus JJ PCTCCTTL. ATroger Jobs TEmiamicu In process. Required: 1. Calculate and add applied overhead to each job. 2. Complete the end of March job-order cost sheets (i.e. calculate total costs of each job). 3. Calculate the balance in the Work in Process account as of March 31. 4. Calculate the price of Job 865
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