Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Job Costs At the end of August, Carrothers Company had completed Jobs 50 and 56. Job 50 is for 1,000 units, and Job 56 is

Job Costs At the end of August, Carrothers Company had completed Jobs 50 and 56. Job 50 is for 1,000 units, and Job 56 is for 200 units. The following data relate to these two jobs: On August 4, raw materials were requisitioned for production as follows: 700 units for Job 50 at $20 per unit and 1,000 units for Job 56 at $20 per unit. During August, Carrothers Company accumulated 700 hours of direct labor costs on Job 50 and 400 hours on Job 56. The total direct labor was incurred at a rate of $10 per direct labor hour for Job 50 and $24 per direct labor hour for Job 56. The predetermined factory overhead rate is $12.00 per direct labor hour. a. Determine the balance on the job cost sheets for Jobs 50 and 56 at the end of August. Job 50 $fill in the blank 1 Job 56 $fill in the blank 2 b. Determine the cost per unit for Jobs 50 and 52 at the end of August. If required, round your answers to the nearest cent. Job 50 $fill in the blank 3 Job 56 $fill in the blank 4

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

More Books

Students also viewed these Accounting questions

Question

Define Decision making

Answered: 1 week ago

Question

What are the major social responsibilities of business managers ?

Answered: 1 week ago

Question

What are the skills of management ?

Answered: 1 week ago