Answered step by step
Verified Expert Solution
Question
1 Approved Answer
nts Problem 2 Due: Apr 15,7:30 pm 6 Pop up instructions Meyers Company uses a job order costing system and the following information is available
nts Problem 2 Due: Apr 15,7:30 pm 6 Pop up instructions Meyers Company uses a job order costing system and the following information is available from its records. The company has three jobs in process: #6, #9, and #13 Items Item 2 Raw material used Direct labor per hour Overhead applied based on direct labor cost 120.000 8.50 120% Item 3 item 4 Item 5 20% of the requisition of Raw Materials was indirect materials Direct labor hours per job are 2,500 3 100 and 4 200, respectively Indirect labor is 29.960. Other actual overhead costs totaled 32,000 Over or under application of overhead is allocated to Work in Process Cost of Goods Sold, and Finished Goods base on their balances before the over or under application Item 6 Item py Item 8 Requirements Item 9 Item 10 1. If Job #13 is completed and transferred what is the balance before over or under application) in Work in Process Inventory at the end of the period assuming 35% of the direct material used was attributable to Job #13 (2 points) 2. If Job #13 is completed but not yet delivered what is the balance (after over or under application) in Finished Goods inventory at the end of the period assuming 35% of the direct material used was attributable to Job #13(3 points) Item 11
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started