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How to calculate total cost of job 201 and 202? Please show details of calculation for the manufacturing overhead in job 201 and 202. Reyes

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How to calculate total cost of job 201 and 202? Please show details of calculation for the manufacturing overhead in job 201 and 202.

Reyes Manufacturing Company uses a job order cost system At the beginning of January, the company had one joh in process (Job 201) and one job completed but not yet sold (lob 200) Job 202 was started during January Other select account balances follow ignore any accounts that are not listed) During January, the company had the tollowing transactons: a) Purchased $62,000 worth of materials on account (b) Roccrdod matonals issued to production as follows 201 202 Indirect materials $10,700 20400 37,300 (c) Recorded factory payrol costs from direct labor time tickels thal revealed the following 201 202 Factory supervision 10 S 2,200 10,900 5,200 S 18,300 393 (d) Applied overhead to production at a rate of $28.00 per direct labor hour for 503 actual direct labor hours (e) Recorded the following actual marnufacturing overhead costs. Item Factory rent Depreciation Factory uities Factory insurance Tatal Cost S 3,000 Paid in cash 4,300 Factory equipment. D Incurred but not pak 1600 Prepaid policy $11,900 (Completed Job 201 and transferred it to Finished Goods Inventory. (a)Sold Job 200 for $51,500 Job 202 was still in process at the end of January Required 1. Post the preceding transactions to T-accounts. (Note: Capture the offsetting of debits and credits to other accounts such as Cash, Payables, Accumulated Depreciation, and so on in Miscellaneous Accounts.) Raw Materials Inventory Work in Process Inventory 36,000 19,500 31,100 13,100 14,084 a) 62,000 37,300 (b) 31/1 60.700 31/1 77,794 Finished Goods Inventory Cost of Goods Sold 22,000 22,000 (9) 22,000 3111 31/1 22,000 Manufacturing Overhead Sales Revenue 14084 (d) 6,200 5.200 11,900 51,500 (g) c) 31/1 51,500 31/1 9,216 Miscellaneous Accounts (Cash, Payables, etc.) 62.000 (a) 18,300 (C) 11,900 (e) 9) 51,500 2. Compute the ending balance in the following accounts: a Raw Materials Inventory b. Work in Process Inventory c. Finished Goods Inventory d. Cost of Goods Sold (unadjusted) e. Manufacturing Overhead 60,700 22,000 9,216 3. Compute the total cost of Jobs 201 and 202 at the end of January. Job Total Cost Number of Job 201 202

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