YANKEES, INC., a construction company, uses a job-order cost system. Its transactions for the month of September were as follows:

9/2 Purchased materials for cash at a cost of $50.

9/5 Materials with a cost of $30 were issued to jobs as follows:

#2 $15

#3 $15

9/20 Overhead incurred during the month totaled $25.

9/25 Payroll costs for September were $35.

9/27 Direct labor of $30 was charged to jobs as follows:

#2 $20

#3 $10

9/28 Overhead was applied using an overhead rate of $1 of overhead for every $3 of the cost of direct materials used.

9/29 Job #2 was completed

9/30 Job #2 was sold.

Additional data:

The August 31 inventory balances were as follows:

Materials - $12

Work in process - $25 (materials $10; labor $10; overhead $5)

Finished Goods $21 (materials $8; labor $9; overhead $4).

The August 31 Subsidiary (Job) records were as follows:

Job #1 $21 (materials $8: labor $9; overhead $4);

Job #2 $25 (materials $10; labor $10; overhead $5).

d. Cost of Goods Manufactured for September was

$Answer

e. Cost of Goods Sold for September was

$Answer

f. Raw Material inventory at September 30 was

$Answer

g. Work in process inventory at September 30 was

$Answer

h. Finished goods inventory at September was

$Answer

i. The overhead rate used in August was $1 of overhead per $____ of _______.

$Answer

Answerdirect

labormaterials purchasedmaterials usedoverhead paidpayroll paidnone of the above