Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The computer workstation furniture manufacturing that Santana Rey started In January Is progressing well. As of the end of June, Buslness Solutions' Job cost sheets

image text in transcribed

The computer workstation furniture manufacturing that Santana Rey started In January Is progressing well. As of the end of June, Buslness Solutions' Job cost sheets show the following total costs accumulated on three furniture Jobs. Job 6.02 Job 6.03 Job 6.04 2,900 Direct materlals $1,500 $3,300 $ Direct labor Overhead 900 1,560 1,210 495 858 Job 6.02 was started In production In May, and these costs were assigned to It In May: direct materials, $500; direct labor, $210; and overhead, $116. Jobs 6.03 and 6.04 were started In June. Overhead cost is applied with a predetermined rate based on direct labor costs. Jobs 6.02 and 6.03 are finished In June, and Job 6.04 Is expected to be finished In July. No raw materials are used Indirectly In June. (Assume this company's predetermined overhead rate did not change over these months). Required 1. What is the cost of the raw materials used In June for each of the three Jobs and In total? (Omit the "$" sign In your response.) Job 6.02 Job 6.03 Job 6.04 Total How much total direct labor cost is Incurred in June? (Omit the "$" sign In your response.) 2. Total direct labor S What predetermined overhead rate is used in June? (Omit the "%" sign in your response.) 3 Predetermined overhead rate 4. How much cost Is transferred to finlshed goods Inventory In June? (Omit the "$" sign In your response.) Total transferred cost

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

Students also viewed these Accounting questions

Question

Does cognition guide behaviour?

Answered: 1 week ago