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Q3 (20 MINUTES, 12 MARKS) Quartz Products started and finished job no. C19 during June. The job required $15,000 of direct material and 75
Q3 (20 MINUTES, 12 MARKS) Quartz Products started and finished job no. C19 during June. The job required $15,000 of direct material and 75 hours of direct labour at $12 per hour. The predetermined overhead rate is $16 per direct labour hour. During June, direct materials requisitions for all jobs totaled $149,000; the total direct labour hours and cost were 6,200 hours at $12 per hour; and the total cost of jobs completed was $337,500. All of these figures include data that pertain to job no. C19. REQUIRED: A. Prepare journal entries that summarize June's total activity. B. Determine the cost of job no. C19.
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