Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

? Requlred Information [ The following information applies to the questions displayed below. ] Stellar Sound, Inc., which uses a job - order costing system,

?
Requlred Information
[The following information applies to the questions displayed below.]
Stellar Sound, Inc., which uses a job-order costing system, had two jobs in process at the start of 201 : job no.64($84,100)
and job no.65( $53,500). The following information is available:
The company applies manufacturing overhead on the basis of machine hours (based on practical capacity). Budgeted
overhead and machine activity for the year were anticipated to be $808,000, and 16,000 hours, respectively.
b. The company worked on four jobs during the first quarter. Direct materials used, direct labor incurred, and machine
hours consumed were as follows:
c. Manufacturing overhead during the first quarter included charges for depreciation ( $33,300), indirect labor ).
indirect materials used ($5,100), and other factory costs ($139,600).
d. Stellar Sound completed job no.64 and job no.65. Job no.65 was sold on account, producing a profit of $34,700 for
the firm.
Determine the cost of jobs still in production as of March 31.
Answer is complete but not entirely correct.
image text in transcribed

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

Just In Time Accounting How To Decrease Costs And Increase Efficiency

Authors: Steven M. Bragg

3rd Edition

0470403721, 978-0470403723

More Books

Students also viewed these Accounting questions