Question
On September 1, two jobs were in process at Petes Patios. Details of the jobs follow: Job Number Direct Materials Direct Labor PP-24 $ 1,128
On September 1, two jobs were in process at Petes Patios. Details of the jobs follow:
Job Number | Direct Materials | Direct Labor | ||||
PP-24 | $ | 1,128 | $ | 406 | ||
PP-30 | 585 | 1,740 | ||||
Materials Inventory on September 1 totaled $5,590, and $722 worth of materials was purchased during the month. Indirect materials of $102 were withdrawn from materials inventory. On September 1, finished goods inventory consisted of two jobs, PP-12, costing $2,418, and PP-14, with a cost of $950. Costs for both jobs were transferred to Cost of Services Billed during the month.
Also during September, Jobs PP-24 and PP-30 were completed. Completing Job PP-24 required an additional $1,310 in direct labor. The completion costs for Job PP-30 included $670 in direct materials and $4,000 in direct labor.
Petes Patios used a total of $1,922 of direct materials (excluding the $102 indirect materials) during the period, and total direct labor costs during the month amounted to $8,080. Overhead has been estimated at 50 percent of direct labor costs, and this relation has been the same for the past few years.
Required:
Compute the costs to Jobs PP-24 and PP-30 and the balances in the September 30 inventory accounts.
cost to compete PP-24 | ? |
cost to compete PP-30 | ? |
balance of work-in-progress as of September 30 | ? |
balance of materials inventory as of September 30 | ? |
balance of finished goods inventory as of September 30 | ? |
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