Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QS 15-10 Manufacturing cost flows LO P1, P2, P3 On March 1 a dressmaker starts work on three custom-designed wedding dresses. The company uses job

image text in transcribed
image text in transcribed
QS 15-10 Manufacturing cost flows LO P1, P2, P3 On March 1 a dressmaker starts work on three custom-designed wedding dresses. The company uses job order costing and applies overhead to each job (dress) at the rate of 48% of direct materials costs. During the month, the jobs used direct materials as shown below. Direct materials used Job 1 Job 2 Job 3 $5,600 $7,600 $2,100 During the month, the jobs used direct labor as shown below, Jobs 1 and 3 are not finished by the end of March, and Job 2 is finished but not sold by the end of March Direct labor used Job 1 Job 2 Job 3 $11,800 $5,200 $4,200 1. Determine the amounts of direct materials, direct lobor, and factory overhead applied that would bqreported on job cost sheets for each of the three jobs for March JOB COST SHEET Job 1 Job 2 Job Direct manals Direct labor Factory overhead Total 5 05 05 0 2. Determine the total dollar amount of Work in Process Inventory at the end of March Saved s Help 1. Determine the amounts of direct materials, direct labor, and factory overhead applied that would be reported on Job cost sheets for each of the three jobs for March JOB COST SHEET Job 1 Job 2 Job 3 Direct materials Direct labor Factory overhead Total $ 0 $ 0 $ 0 5 2. Determine the total dollar amount of Work in Process Inventory at the end of March Ending work in proceso 3. Determine the total dollar amount of Finished Goods Inventory at the end of March Assume the company has no beginning Work in Process or Finished Goods inventories

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

Step: 3

blur-text-image

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

Financial Markets And Institutions

Authors: Peter Howells, Keith Bain

5th Edition

0273709194, 9780273709190

More Books

Students also viewed these Accounting questions