Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

P The Voice cock E PROJECT Saved The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
P The Voice cock E PROJECT Saved The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs Job 602 Job 603 Job 604 Direct materials $1,500 $3,300 $2,700 Direct labor 800 1,420 2,100 Overhead 400 1,050 710 Job 602 was started in production in May, and these costs were assigned to it in May: direct materials. $600; direct labor, $180, and overhead, $90. Jobs 603 and 604 were started in June, Overhead cost is applied with a predetermined rate based on direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July, No row materials are used indirectly in June (Assume this company's predetermined overhead rate did not change over these months) Required: 1. What is the cost of the raw materials used in June for each of the three jobs and in total? 2. How much total direct labor cost is incurred in June? 3. What predetermined overhead rate is used in June? 4. How much cost is transferred to finished goods inventory in June? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What is the cost of the raw materials used in June for each of the three jobs and in total? Job 602 Job 603 Job 604 Total May costs $ 900 $ 900 June costs Total Required 2 > Saved The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs. Direct materials Direct labor Overhead Job 602 $1,500 800 400 Job 603 $3,300 1,420 710 Job 604 $2,700 2,100 1,050 Job 602 was started in production in May, and these costs were assigned to it in May, direct materials, $600, direct labor, $180; and overhead, $90. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate based on direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July. No raw materials are used indirectly in June. (Assume this company's predetermined overhead rate did not change over these months.) Required: 1. What is the cost of the raw materials used in June for each of the three jobs and in total? 2. How much total direct labor cost is incurred in June? 3. What predetermined overhead rate is used in June? 4. How much cost is transferred to finished goods inventory in June? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 How much total direct labor cost is incurred in June? Job 602 Job 603 Job 604 Total 620 $ 1,420 $ 2,100 $ 4.140 May costs June costs Total The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture Jobs Job 602 Job 603 Job 604 Direct materials $1,500 $3,300 $2,700 Direct labor 800 1,420 Overhead 2,100 400 710 1,050 Job 602 was started in production in May, and these costs were assigned to it in May, direct materials, $600, direct labor, $180, and overhead, $90. Jobs 603 and 604 were started in June, Overhead cost is applied with a predetermined rate based on direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July, No raw materials are used indirectly in June. (Assume this company's predetermined overhead rate did not change over these months.) Required: 1. What is the cost of the raw materials used in June for each of the three jobs and in total? 2. How much total direct labor cost is incurred in June? 3. What predetermined overhead rate is used in June? 4. How much cost is transferred to finished goods inventory in June? Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Required 4 What predetermined overhead rate is used in June? Predetermined overhead rato Required a Required 4 > Seved The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture Jobs. Direct materials Direct labor Overhead Job 602 $1,500 400 800 Job 603 $3,300 1,420 710 Job 604 $2,700 2,100 1,050 Job 602 was started in production in May, and these costs were assigned to it in May, direct materials, $600; direct labor, $180; and overhead, $90. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate based on direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July. No raw materials are used indirectly in June. (Assume this company's predetermined overhead rate did not change over these months.) Required: 1. What is the cost of the raw materials used in June for each of the three jobs and in total? 2. How much total direct labor cost is incurred in June? 3. What predetermined overhead rate is used in June? 4. How much cost is transferred to finished goods inventory in June? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Requires How much cost is transferred to finished goods inventory in June? Job Raw Materials Direct Labor Overhead Applied Total Cost Cost transferred to finished goods Costs of Ending WIP 602 603 604 Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sustainability Performance And Reporting

Authors: Irene M. Herremans

1st Edition

1951527208, 9781951527204

More Books

Students also viewed these Accounting questions

Question

5. Save raster im?

Answered: 1 week ago