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Question 1 Rodman Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first
Question 1 Rodman Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year. Other data: 1. On December 1, two jobs were in process: Job No. 154 and Job No. 155 . These jobs had combined direct materials costs of $9,910 and direct labor costs of $16,100. Overhead was applied at a rate that was 75% of direct labor cost 2. During December, Job Nos. 156, 157, and 158 were started. On December 31, Job No. 158 was unfinished. This job had charges for direct materials $4,000 and direct labor $4,900, plus manufacturing overhead. All jobs, except for Job No. 158, were completed in December 3. On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $5,100. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,300 4. Manufacturing overhead was $785 overapplied in December. List the letters (a) through (m) and indicate the amount pertaining to each letter Raw Materials Inventory Dec. 1 Beginning (a) Dec. 31 balance Requisitions 18,800 31 Purchases 19,640 Ending balance 8,560 31 Work in Process Inventory Dec. 1 Beginning balance Dec. 31 Jobs completed 31 Direct materials 31 Direct labor 31 Overhead 9,500 Ending balance 31
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