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Ivanhoe Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased
Ivanhoe Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production. 1. Materials purchased on account $193,900, and factory wages incurred $92,700. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $38,140 $18,700 A21 44,520 23,600 A22 37,200 16,400 A23 40,470 26,200 General factory use 5,070 7,800 $165,400 $92,700 3. Manufacturing overhead costs incurred on account $51,400. 4. Depreciation on factory equipment $16,950. 5. Depreciation on the company's office building was $15,200. 6. Manufacturing overhead rate is 84% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23. Prepare a schedule showing the individual cost elements and total cost for each job in item 7. Job A20 A21 A23 Direct Materials +A $ +A $ Direct Labor Manufacturing Overhead + $ +A Total
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