Question
Southwest Industries uses a job order cost system. The following data summarize the operations related to production for January 2017, the first month of operations:
Southwest Industries uses a job order cost system. The following data summarize the operations related to production for January 2017, the first month of operations:
Materials requisitioned and factory labor used:
Job | Materials | Factory Labor |
201 | 3,950 | 3,700 |
202 | 4,830 | 5,000 |
203 | 3,200 | 2,500 |
204 | 10,800 | 9,150 |
205 | 6,800 | 7,000 |
206 | 5,000 | 4,450 |
For general factory use | 1,440 | 5,500 |
The factory overhead rate is $60 per machine hour. Machine hours used:
Job | Machine Hours |
201 | 31 |
202 | 46 |
203 | 36 |
204 | 96 |
205 | 48 |
206 | 31 |
|
|
Jobs completed were 201, 202, 203, and 205.
Required: Prepare a schedule of finished jobs with total cost information and a schedule of unfinished jobs with total cost information.
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