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please help c-f.. just on manufacturing overhead. im on the brink of tears Concord Company uses a job order cost system and applies overhead to
please help c-f.. just on manufacturing overhead. im on the brink of tears
Concord Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23.400 direct labor $ 14,040, and manufacturing overhead $ 18,720. As of January 1, Job 49 had been completed at a cost of $ 105,300 and was part of finished goods inventory. There was a $ 17.550 balance in the Raw Materials Inventory account. During the month of January. Concord Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold during the month. The following additional events occurred during the month. 1. 2. 3. Purchased additional raw materials of $ 105,300 on account Incurred factory labor costs of $81.900. Incurred manufacturing overhead costs as follows: Indirect materials $19.890: Indirect labor $ 23,400 : depreciation expense on equipment $ 14,040: and various other manufacturing overhead costs on account 5 18.720 Assigned direct materials and direct labor to jobs as follows 4 Job No. Direct Materials Direct Labor 50 $ 11,700 $ 5,850 51 45,630 29.250 52. 35.100 23.400 (c)-() (c) (d) Record the purchase of raw materials, the factory labor costs incurred and the manufacturing overhead costs incurred during the month of January Record the assignment of direct materials, direct labor, and manufacturing overhead costs to production in assigning manufacturing overhead costs, use the overhead rate calculated in (a). Postal costs to the job cost sheetsas necessary Total the job cost sheets for any jobis completed during the month Record the completion of any job(s) during the month (e) (0) Record the sale of any jobs) during the month Raw Materials Inventory Factory Labor Manufacturing Overhead (c) Purchase raw materials 105300 Incurred factory labor 81900 Factory depreciation Other overhead costs indirect materials 19890 Indirect labor 23400 23:00 (d) Direct materials 115830 72540 Direct labor Assigned overhead Factory depreciation Other overhead costs Indirect materials 19890 Indirect labor 23400 (d) Direct materials 115830 Direct labor Assigned overhead lel Jobs completed (0) Jobs sold Step by Step Solution
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