Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Job A38 was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,500 of direct materials and used $4,000

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Job A38 was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,500 of direct materials and used $4,000 of direct labor. The job was not finished by the end of September, but needed an additional $3,000 of direct materials and additional direct labor of $6,500 to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the total cost of the job when it is completed in October? Multiple Choice $16.000 $37,000 $22.500 $26,500 $32.000 Juarez Builders incurred $285,000 of labor costs for construction jobs completed during the month of August, of which $212,000 was direct and $73,000 was indirect supervisory costs. The correct journal entry to record the direct labor for the month is: Multiple Choice Debit Work in Process inventory $285,000 credit Factory Woges Payable $285,000 Debit Work In Process Inventory $212,000 credit Factory Wages Payattle $212,000. Debit Work in Process Inventory $212.000, credt Cash $285,000 Debit Factory Woges Payable $285,000 credit Work in Process inventory S212.000 Debit Payroll Expense $212.000 Credit Cash $212.000 Dallas Company uses a job order costing system. The company's executives estimated that direct labor would be $2,000,000 (200,000 hours at $10/hour) and that factory overhead would be $1500,000 for the current period. At the end of the period, the records show that there had been 180.000 hours of direct lobor and $1,200,000 of actual overhead costs. Using direct labor hours as a base, what was the predetermined overhead rote? Multiple Choice $6.00 per direct labor hour $700 per direct labor hour 58 33 per direct labor hour 56.67 per direct laborhout $750 per det bor hour 180 lav Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $3,000 of direct materials and used $4,500 of direct labor. The job was not finished by the end of September, but needed an additional $3.500 of direct materials in October and additional direct labor of $7,000 to finish the job. The company applies overhead at the end of each month at a rate of 100% of the direct labor cost. What is the amount of job costs added to Work in Process inventory during October? Murple Choice $28.500 O $29.500 $18.000 $22.000 O $2,500 If one unit of Product Z2 used $1.80 of direct materials and $360 of direct lobor, sold for $9.00, and was assigned overhead at the rate of 23% of direct labor costs, how much gross profit was realized from this sale? (Round your intermediate calculations and final answer to two decimal places.) Multiple Choice 5540 $360 5.83 39.00

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

The Life Audit

Authors: Michelle Moroney

1st Edition

978-0717184736

More Books

Students also viewed these Accounting questions

Question

What are the stages of project management? Write it in items.

Answered: 1 week ago

Question

why do consumers often fail to seek out higher yields on deposits ?

Answered: 1 week ago

Question

What aspects would it be impossible to capture?

Answered: 1 week ago

Question

Enhance your words with effective presentation aids

Answered: 1 week ago