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Job order Costing Memorial Graphs uses a job-order cost system. The following data summarize the operations related to production in September. Assume 0 starting balances.
Job order Costing Memorial Graphs uses a job-order cost system. The following data summarize the operations related to production in September. Assume 0 starting balances. a. Materials purchased for cash: $500,000 b. Materials requisitioned and factory labor used: Job Materials Factory Labor 501 $32,100 $28,000 502 33,000 36,500 503 37,050 18,700 504 66,500 42,000 For General Factory Use 9,600 37,000 c. Factory overhead costs incurred on account $20,000 d. Depreciation of machinery and equipment $24,000 e. The predetermined factory overhead rate is $25 per machine hour. Machine hours used are listed below: a. 501: 215 b. 502: 230 C. 503: 165 d. 504: 270 f. Jobs completed are 501, 502, 503. g. Jobs were shipped and customers were billed as follows: 501: $400,000 502: $410,000
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