Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information Problem 15-1A (Algo) Computing job costs and overhead rate; assigning costs to inventory LO C1, P3 [The following information applies to the questions

image text in transcribed
Required information Problem 15-1A (Algo) Computing job costs and overhead rate; assigning costs to inventory LO C1, P3 [The following information applies to the questions displayed below.) At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. At June 30 Job 5 Job 6 Job 2 Direet materials $ 15,200 $ 33, 100 $ 27,100 Direct labor 8,200 21,200 Overhead applied 4,100 10,600 Additional Information a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $6,100; direct labor, $1,900; and applied overhead, $1,000. Job 5 was finished in June. b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. 14,400 7,200 Problem 15-1A (Algo) Part 2 2. What is the total cost of direct labor used in June? Direct labor used in June

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_2

Step: 3

blur-text-image_3

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

Risk Management In Organisations An Integrated Case Study Approach

Authors: Margaret Woods

2nd Edition

1138632333, 9781138632332

More Books

Students also viewed these Accounting questions