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The following selected data were taken from the books of the Owens O-Rings Company. The company uses job costing to account manufacturing costs. The data
The following selected data were taken from the books of the Owens O-Rings Company. The company uses job costing to account manufacturing costs. The data relate to April operations. (1) Materials and supplies were requisitioned from the stores clerk as follows: Job 405, material X, $7,300. Job 406, material X, $3,300; material Y. $6,300. Job 407, material X, $7,300; material Y, $3,500. For general factory use: materials A, B, and C, $2,600. (2) Time tickets for the month were chargeable as follows: Job 405 $ 11,300 3,000 hours Job 406. $ 14,300 3,600 hours Job 407 $ 8,300 1,900 hours Indirect labor $ 4,000 (3) Other information: Factory paychecks for $37,000 were issued during the month. Various factory overhead charges of $21,200 were incurred on account. Depreciation of factory equipment for the month was $7,200. Factory overhead was applied to jobs at the rate of $3.80 per direct labor hour Job orders completed during the month: Job 405 and Job 406. Job orders completed during the month: Job 405 and Job 406. Selling and administrative costs were $2,400. Factory overhead is closed out only at the end of the year. The balance in the factory overhead account would represent the fact that overhead was
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