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Job Costs Using a Plantwide Overhead Rate Perrin Company designs industrial prolulyves ur vulsive companies. Budueled uverhead for the year was $212,000, and budgeted direct
Job Costs Using a Plantwide Overhead Rate Perrin Company designs industrial prolulyves ur vulsive companies. Budueled uverhead for the year was $212,000, and budgeted direct labor hours were 20.000. The average wage rale lor direct labur is expected to be $22 per hour. During June, Perrin Curipally worked on four jobs. Data relating to these four jobs follow: Job 39 Job 10 Job 11 Job 12 SW 40 $15,CIDO Iseginning balance Materials requisitioned 19.500 24.300 7,000 16,700 Direct labor cast 9,60 13,200 11,00 4,000 werhead is assigned as a percentage of direct labor cost. Tunng lunc, los 19 and 40) were completed; Joh 19 was sold at 1:50 percent of cast. Jab 40) is the only job in linished Goods Inventory and will remain there until the customer accepts delivery and pays. laba 41 and 42 remain unfinished at the end of the month. Required: 1. Calculate the balance in Work in Process as of June 30. $ 2. Calculate the balance in Finished Goods es vi June 30. $ 3. Calculate the cost of goods sold for June. 4. Calculate the price charged for Job 39. Round your answer to two decimal places. 5. What if the customer for Job 40 was able to pay for the job by June 30? What would happen to the balance in Finished Goods? What would happen to the balance of Cost of Goods Sold
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