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) Singh Inc. is a job-order manufacturer. The company uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs.
- ) Singh Inc. is a job-order manufacturer. The company uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, budgeted direct labor hours were 32,600 and factory overhead was $146,700. The following information is for March. Job 121 was completed during March. Job 128 was started in March but not finished.
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| March 1, inventories: |
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| Materials | $ | 12,000 |
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| Work-in-process (All Job 121) |
| 87,400 |
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| Finished goods |
| 68,000 |
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| Materials purchases | $ | 125,000 |
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| Direct materials requisitioned: |
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| Job 121 | $ | 84,000 |
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| Job 128 |
| 50,000 |
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| Direct labor hours: |
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| Job 121 |
| 3,500 |
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| Job 128 |
| 2,500 |
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| Labor costs incurred: |
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| Direct labor ($26.00 per hour) | $ | 260,000 |
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| Indirect labor |
| 46,200 |
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| Factory overhead |
| 27,200 |
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| Factory rent | $ | 78,400 |
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| Selling & Administrative |
| 52,200 |
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Calculate the total cost of Job 121. Show supporting calculations for your answer, label your work.
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