During the month, the jobs used direct labor as shown below. Jobs 1 and 3 are not finished by the end of march, and job 2 is finished but not sold by the end of march.
1. Determine the amounts of direct materials, direct labor, and factory overhead applied that would be reported on job cost sheets for each of the three jobs for March.
2. Determine the total dollar amount of Work in Process Inventory at the end of March.
3. Determine the total dollar amount of Finished Goods Inventory at the end of March. Assume the company has no beginning Work in Process or Finished Goods inventories.
There is a 40% overhead rate for the direct materials used
Job 1 Job 2 Job 3
Direct materials used 5,000 7,000 1,500
Direct labor used 9,000 4,000 3,000
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “During the month, the jobs used direct labor as shown below. Jobs 1 and 3 are not finished by the end of march, and job 2 is finished but ...” 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
An increase in the expected price level shifts short-run aggregate supply to the a. right, and an increase in the actual price level shifts short-run aggregate supply to the right. b.
Answers (1)
Alice Durant works in the accounts payable department for the BC Group. She recently found out that Della Granger, another A/P clerk, received a bigger raise than she did, even though Durant has been with the company longer and frequently has to
Answers (1)
The morgan company, a small furniture manufacturer, divides its organization into marketing, human resources, accounting, and production departments. this is an example of departmentalization by
Answers (1)
Rod owns a dog whose barking annoys Rod's neighbour Jane. Suppose that the benefit of owning the dog is worth $500 to Rod and that Jane bears a coast of $700 from the barking.
Answers (1)
The City of Sycamore has investments in bonds. These bonds have an amortized cost of $1,997,000. At year end, the financial press reports a market value of $2,002,600 for these bonds. The original cost of the bonds was $1,993,000.
Answers (1)
New Questions in Business
Beaver Construction purchases new equipment for $38,160 cash on April 1, 2018. At the time of purchase, the equipment is expected to be used in operations for six years (72 months) and have no resale or scrap value at the end.
Answers (1)
Identify an advantage of working in teams. O A. Strong work ethics O B. Less wasted time O C. More ideas O D. Less skills SUBI
Answers (2)
Identify the major task that must be mastered in early adulthood, according to levinson.
Answers (1)
Ctual total factory overhead incurred $ 28,175 Standard factory overhead: Variable overhead $ 3.10 per unit produced Fixed overhead ($12,000/12,000 predicted units to be produced) $ 1 per unit Predicted units produced 12,000 units Actual units
Answers (1)
The balances in Sanchez Accounting Services' office supplies account on February 1 and February 28 were $800 and $400, respectively.
Answers (1)