The computer workstation furniture manufacturing that Santana Rey started is progressing well. As of the end...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/66542239d6583_81766542239635bb.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6654223a74f0a_8186654223a15610.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6654223b15389_8186654223abe39d.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6654223b9debe_8196654223b4d63f.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6654223c403b9_8196654223bda4ba.jpg)
Transcribed Image Text:
The computer workstation furniture manufacturing that Santana Rey started 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. Job 602 Direct materials Direct labor $ 1,700 Job 603 $ 3,200 Job 604 $ 3,000 Overhead applied 800 400 1,480 740 1,600 800 Job 602 was started in May, and the following costs were assigned to it in May: direct materials, $800; direct labor, $250; and overhead, $125. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate as a percent of direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July. The company's predetermined overhead rate did not change over these months. Required: 1. What is the cost of direct materials used in June for each of the three jobs and in total? 2. What is the cost of direct labor used in June for each of the three jobs and in total? 3. What predetermined overhead rate is used in June? 4. How much cost is transferred to finished goods inventory in June? The computer workstation furniture manufacturing that Santana Rey started 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. Job 602 Direct materials Direct labor $ 1,700 Job 603 $ 3,200 Job 604 $ 3,000 Overhead applied 800 400 1,480 740 1,600 800 Job 602 was started in May, and the following costs were assigned to it in May: direct materials, $800; direct labor, $250; and overhead, $125. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate as a percent of direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July. The company's predetermined overhead rate did not change over these months. Required: 1. What is the cost of direct materials used in June for each of the three jobs and in total? 2. What is the cost of direct labor used in June for each of the three jobs and in total? 3. What predetermined overhead rate is used in June? 4. How much cost is transferred to finished goods inventory in June?
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Refer to Forten Companys financial statements and related information in Problem 16-1A. In Problem 16-1A. Forten Company, a merchandiser, recently completed its calendar- year 2013 operations. For...
-
Bonds of Riverhawk Sport Authority (RSA) are selling in the market for $896.33.These bonds carry a 9.25 percent coupon paid semiannually, and have 20 years remaining to maturity. What is the bond's...
-
Explain the management accountant's role in helping organizations design stronger incentive systems for their employees. LO1
-
1. Analyze Southwest's passenger boarding process using the TOC. 2. Which boarding scenario among the different ones proposed would you recommend for implementation? Why? 3. How should Southwest...
-
Have these International Finance Study Questions need to work into paragraph(s)answer. I have short answer-not enough bulk. Evaluate and outline the principal utility of the foreign exchange market....
-
In Porter's Diamond Model of National Competitive Advantage ______________ are uncontrolled impacts on the firm, which impact the diamond but not each other. a. factor and demand conditions b....
-
Describe the development of a change process in an organization. Give an example of a problem and how this process will help.
-
Discuss how Job satisfaction factors are all affected by quality and, in turn, competitiveness, make sure you discuss this topic with your peers. Please include examples and incite citation and...
-
What was the approximate time frame covered by the information in the clips? 2 . Who was Dr . Harvey Wiley? Where did he start his career and what was his job title? 3 . The Indiana State Board of...
-
Think about a situation that happened at work that requires attention, action and follow up. Something that was out of ordinary and caused some interruption in your daily job. It does not need to be...
-
Fosco is a major US-based data handling firm that has several sites throughout the UK and mainland Europe. It employs 4,000 people and its core business involves transactional services related to the...
-
Consider the following financial statement data for Flip Sound Systems:
-
(Classifying) For each of the following firms, determine whether it is more likely to use job order or process costing. This firm a. is a health care clinic. b. makes custom jewlery. c. manufactures...
-
Why are normal and abnormal spoilage accounted for differently? Typically, how does one determine which spoilage is normal or abnormal? LO1.
-
(Journal entries) Clara Inc. produces custom-made floor tiles. During April 2006, the following information was obtained relating to operations and production: 1. Direct material purchased on...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App