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Need solutions for questions 18.01 through 18.04. To keep records of the actual cost of a special order job, a Job Order Cost System has
Need solutions for questions 18.01 through 18.04.
To keep records of the actual cost of a special order job, a Job Order Cost System has been developed. | ||||||||
Overhead is applied at the rate of 50% of the direct labor cost. | ||||||||
Job Order Costing Section | ||||||||
On January 1, 20x2, Division S began Job 2407 for the Client, THE BIG CHILDREN STORE. The | ||||||||
job called for 4,000 customized lamps. The following set of transactions occurred from | ||||||||
January 5 until the job was completed: | ||||||||
5-Jan | Purchased 4,100 figurines @ $9.75 per figurine. | |||||||
6-Jan | Purchased 4,175 sets of electical components @ $1.25 per set. | |||||||
7-Jan | Purchased 4,000 lamp shades @ $6.70 per set. | |||||||
8-Jan | 4,100 figurines were requisitioned. | |||||||
9-Jan | 4,150 sets of electrical components were requisitioned. | |||||||
17-Jan | Payroll of 600 Direct Labor Hours @ $9.40 per hour. | |||||||
28-Jan | 3,990 lamp shades were requisitioned | |||||||
30-Jan | Payroll of 650 Direct Labor Hours @ $9.65 per hour. | |||||||
30-Jan | 3,990 lamps were completed and shipped. All materials requisitioned were | |||||||
used or scra-pped, and are a cost of normal processing. | ||||||||
Month End Overhead Information | ||||||||
Actual Variable Manufacturing Overhead | $1,175.00 | |||||||
Actual Fixed Manufacturing Overhead | $40,373.45 | |||||||
Round to six places, $##.###### | ||||||||
Cost of Direct Material Incurred in Manufacturing Job 2407 | ||||||||
{18.01} | ||||||||
Cost of Direct Labor Incurred in Manufacturing Job 2407 | ||||||||
{18.02} | ||||||||
Cost of Manufacturing Overhead Applied to Job 2407 | ||||||||
{18.03} | ||||||||
Cost of manufacturing one lamp | ||||||||
{18.04} |
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