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Question 1 Marks 15 Spring Company has a job costing system. The following items appeared in the Work-in Process account during February of the current
Question 1 Marks 15 Spring Company has a job costing system. The following items appeared in the Work-in Process account during February of the current year. February 1 Balance Materials Placed into production Direct labour (4,000 hours) R20,000 20,000 90,000 400,000 16,000 Spring applies overhead to production based on direct labour hours. Job Xx, the only job in applied Cost of goods manufactured February 28 balance process on February 28, has been charged R10,600 materials cost and has 100 labour hours of direct labour time assigned to it. REQUIRED: 1.1 Detemine the predetemined Plant wide overhead rate for Spring Company 1.2 Determine the amounts of materials, direct labour and plan wide overhead included in the February 28 work in process. 1.3 Detemine the amount of materials placed into production during February
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