Applying Overhead to Jobs, Costing Jobs Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,750 and Job 94 with a beginning balance of $7,300. Jagjit applies overhead at the rate of $8 per direct labor hour. Direct labor wages average $18 per hour. Data on August costs for all jobs are as follows:
Job 93 Job 94 Job 95 Job 96
Direct materials $950 $4,500 $3,300 $1,300
Direct labor cost 2,160 5,400 2,610 900
During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process.
Required:
(1) Calculate the number of direct labor hours that were worked on each job in August.
(2) Calculate the overhead applied to each job during the month of August.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Applying Overhead to Jobs, Costing Jobs Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Complex projects such as research and development for new products often employ rolling wave planning to estimate costs. Which of the following best describes "rolling wave" planning? a.
Answers (2)
If a business offers both routine and specialized services, a single cost driver rate will overprice: A. the specialized service. B. neither the routine nor the specialized service. C. both the routine and the specialized service. D.
Answers (1)
Claybrooks Corporation has two manufacturing departments--Casting and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Casting Assembly Total Estimated total machine-hours (MHs)
Answers (1)
1. Zehra is an employee of Claire. It is payday, but Claire does not have the money to pay Zehra right away, so she signs a simple statement that says: "I owe Zehra $500 for her work this week." Claire then hands this paper to Zehra.
Answers (1)
If a drought ruins a significant amount of the coffee crop, then we would expect the price of
Answers (1)
New Questions in Business
JRN Enterprises just announced that it plans to cut its dividend from $3.50 to $2.50 per share and use the extra funds to expand its operations.
Answers (1)
Sykora, Inc., which uses a predetermined overhead rate based on direct labor hours, estimated total overhead for the year to be $12,000,000 and total direct labor hours to be 320,000 hours. Calculate Sykora's predetermined overhead rate.
Answers (1)
Appalachian mountain goods has paid increasing dividends of $.10, $.12, $.15, and $.20 a share over the past four years, respectively.
Answers (1)
What type of skills tends to be equally important at all levels of management? a. technical skills b. human skills c. decisional skills d. motivation to manage e. conceptual skills
Answers (1)
Faldo Corp sells on terms that allow customers 45 days to pay for merchandise. Its sales last year were $325,000, and its year-end receivables were $60,000. If its DSO is less than the 45-day credit period, then customers are paying on time.
Answers (1)