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. Business Solutions's job cost sheets

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June. Business Solutions's job cost sheets show the following total costs accumulated on three furniture Jobs Direct materials Direct labor Overhead Job 602 $1,480 800 400 Job 603 $3,200 1,340 670 Job 604 $2,800 1,600 800 Job 602 was started in production in May, and these costs were assigned to it in May: direct materials, $700; direct labor $250and overhead. $125. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate based on direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 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? 2. How much total direct labor cost is incurred in June? 3. What predetermined overhead rate is used in June? 4. How much cost is transferred to finished goods inventory In June? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What is the cost of the raw materials used in June for each of the three jobs and in total? Job 602 Job 603 Job 604 Total May costs June costs Total Required Required 2 > Required 1 Required ed 2 Required 3 Required 4 How much total direct labor cost is incurred in June? Job 602 Job 603 Job 604 Total May costs June costs Total Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What predetermined overhead rate is used in June? Predetermined overhead rate Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 How much cost is transferred to finished goods inventory in June? Raw Job Direct Overhead Cost transferred Materials Labor Applied Total Cost to finished goods 602 603 604 Costs of Ending WIP Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Accounting questions