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*Problem 2-3 (Part Level Submission) Steering Company manufactures cutting dies for the shoe industry. Each set of dies is custom designed to a customer's templates
*Problem 2-3 (Part Level Submission) Steering Company manufactures cutting dies for the shoe industry. Each set of dies is custom designed to a customer's templates During the first week of May, six orders were received from customers. They were assigned job numbers 1005 to 1010. The following transactions occurred during the first week of May Steering purchased steel on account from Eastern City Steel costing $6,450. The company received and paid for supplies (indirect materials) from Benton Supply costing $2,500 Material requisitions indicated that materials were issued to the factory floor as follows: Direct Materials $750 950 1,500 750 550 450 $4,950 Indirect Materials Job No. 1005 1006 1007 1008 1009 1010 Totals $1,500 The labor time ticket summary reflected the following costs for the week: Direct Labor $1,700 2,300 3,500 1,400 1,200 800 $10,900 Indirect Labor Job No. 1005 1006 1007 1008 1009 1010 Totals $5,400 Overhead was applied to all jobs in process at 150 percent of direct labor cost. Jobs 1005, 1006, 1007, and 1008 were completed and transferred to finished goods. Jobs 1009 and 1010 were still in process at the end of the week. Jobs 1005, 1006, 1007, and 1008 were shipped to customers and billed at 120 percent of total job cost. [y] Your answer is correct. Calculate the total cost of each job Total Cost 1005 1006 1007 1008 1009 1010 700 0250 250 550 450 Attempts: 3 of 3 used
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