Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 15-1A (Static) Computing job costs and overhead rate; assigning costs to inventory LO C1, P3 [The following information applies to the questions displayed below.]

image text in transcribed
Problem 15-1A (Static) Computing job costs and overhead rate; assigning costs to inventory LO C1, P3 [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. At June 30 Job 5 Job 6 Job 7 Direct materials $ 15, 000 $ 33, 000 $ 27, 000 Direct labor 8, 000 14, 200 21, 000 Overhead applied 4, 000 7, 100 10 , 500 Additional Information a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $6,000; direct labor, $1,800; and applied overhead, $900. Job 5 was finished in June. b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. ces Problem 15-1A (Static) Part 1 Required 1. What is the total cost of direct materials requisitioned in June? Direct materials requisitioned in June $ 43,000

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_2

Step: 3

blur-text-image_3

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

Intermediate Accounting Volume 2

Authors: Thomas H. Beechy

5th Edition

0071091319, 978-0071091312

More Books

Students also viewed these Accounting questions

Question

What is a residual plot?

Answered: 1 week ago