Roberto Company had one job in process at the beginning of the period (Job A). During the period, Roberto began work on Jobs B, C, and D. At the end of the period, Jobs A and B had been sold, Job C was finished, and Job D was still in process.

Direct labor is paid $12 per hour. Roberto applies overhead to jobs based on machine hours. The budgeted overhead for the year was $500,000 and budgeted machine hours were 40,000.

The inventory balances at the beginning of the year were:

Direct materials inventory$140,000

Work-in-process inventory 235,000

Finished goods inventory -0-

The following relevant events occurred during the period:

1.Purchased direct materials costing $105,000.

2.Issued direct materials into production:

Job A$25,000

Job B 80,000

Job C 70,000

Job D 50,000

3.Issued indirect materials into production, $15,000

4.Used direct labor hours

Job A 5,000

Job B10,000

Job C 8,000

Job D 6,000

5.Used indirect labor, $150,000

6.Other overhead costs incurred, $275,000

7.Machine hours used

Job A 4,000

Job B16,000

Job C10,000

Job D 6,000

8.Selling and administrative costs incurred, $200,000

9.Selling prices determined

Job A$560,000

Job B 610,000

Required:

1.Determine the cost of each job.

2.Determine the ending inventory balances.

Roberto Company had one job in process at the beginning of the period (Job A). During the period, Roberto began work on Jobs B, C. and D. At the end of the period, Jobs A and B had been sold, Job C was finished, and Job D was still in process. Direct labor is paid $12 per hour. Roberto applies overhead to jobs based on machine hours. The budgeted overhead for the year was $500,000 and budgeted machine hours were 40.000. The inventory balances at the beginning of the year were: Direct materials inventory $140,000 Work-in-process inventory 235,000 Finished goods inventory The following relevant events occurred during the period: 1. Purchased direct materials costing S105,000 2. Issued direct materials into production: JobA $25,000 Job B 80,000 Job C 70,000 Job D 50,000 3. Issued indirect materials into production, $15,000 4. Used direct labor hours Job A 5,000 Job B 10,000 Job C 8,000 Job D 6,000 5. Used indirect labor, $150,000 6. Other overhead costs incurred, $275,000 7. Machine hours used Job A 4,000 Job B 16,000 Job C 10,000 Job D 6,000 8. Selling and administrative costs incurred, $200,000 9. Selling prices determined JobA $560,000 Job B 610,000 Required: 1. Determine the cost of each job. 2. Determine the ending inventory balances. ON I lin