Question
PT HAGNA GARSIA uses a cost-of-order system. The following is data about orders and costs incurred. The balance of work in progress at the end
PT HAGNA GARSIA uses a cost-of-order system. The following is data about orders and costs incurred. The balance of work in progress at the end of August 2002 shows the following amounts:
Job no. 2007: Raw material IDR 140,000
Direct wage 105,000
factory overhead 42,000
Factory overhead costs are charged on a direct wage basis at a rate of 60% of direct wages.
Factory overhead costs are charged on a direct wage basis at a rate of 60% of direct wages.
During September 2002 the following expenses were incurred.
Raw material: Job no. 2007 IDR 80,000
Job no. 2008 75,000
Job no. 2009 84,000
Direct wages: Job no. 2007 IDR 70,000
Job no. 2008 85,000
Job no. 2009 81,000
Job no. 2007 was completed on September 20, 2002 and was taken by the customer at a price of IDR 660,000 while Job no.2008 and 2009 were still in process until the end of September 2002.
From this data:
- Calculate the cost of Job no. 2007.
- Calculate the gross profit of Job no. 2007.
- Compute the cost of goods in process at the end of September 2002.
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