Homework Answers
1&2)
| Direct Materials | |||
| Job | May | June | Total |
| 102 | $11000 | (35000-11000)= $24000 | $35000 |
| 103 | - | 53000 | 53000 |
| 104 | - | 57000 | 57000 |
| Total | $11000 | $134000 | $145000 |
| Direct labor | |||
| Job | May | June | Total |
| 102 | $3700 | (19000-3700)= $15300 | $19000 |
| 103 | - | 27000 | 27000 |
| 104 | - | 40000 | 40000 |
| Total | $3700 | $82300 | $86000 |
3)
| Overhead Rate | ||||
| Choose Numerator | / | Choose Denominator | = | Overhead Rate |
| Job 102 | ||||
| Estimated overhead costs | / | Estimated direct labor | = | Overhead Rate |
| $8550 | / | 19000 | = | 45% |
| Job 103 | ||||
| Estimated overhead costs | / | Estimated direct labor | = | Overhead Rate |
| $12150 | / | 27000 | = | 45% |
| Job 104 | ||||
| Estimated overhead costs | / | Estimated direct labor | = | Overhead Rate |
| $18000 | / | 40000 | = | 45% |
4)
| Job | Direct Materials | Direct Labor | Applied Overhead | Total Cost | Cost Transferred to Finished Goods |
| 102 | $35000 | 19000 | 8550 | $62550 | $62550 |
| 103 | 53000 | 27000 | 12150 | 92150 | 92150 |
| 104 | 57000 | 40000 | 18000 | 115000 | - |
| Total | $145000 | $86000 | $38700 | $269700 | $154700 |
As Job 102 and Job 103 are finished in June and Job 104 is expected to be finished in July that means the Job 102 and 103 has been transferred to finished goods.
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Exercise 15-3 Analysis of cost flows LO C2 As of the end of June, the job...
Exercise 15-3 Analysis of cost flows LO C2 As of the end of June, the job...
Exercise 15-3 Analysis of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $42,000 17,000 8,330 Job 103 $59,000 26,000 12,740 Job 104 $51,000 38,000 18,620 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $11,000; direct labor, $3,500; and overhead, $1,715....
Exercise 15-3 Analyzing of cost flows LO C2 As of the end of June, the job...
Exercise 15-3 Analyzing of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $32,000 18,000 8,460 Job 103 $49,000 28,700 13,489 Job 104 $47,000 41,000 19,270 Job 102 was started in production in May, and the following costs were assigned to it in May, direct materials. $12,000, direct labor, $4,000, and overhead, $1.880....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $17,000 16,000 5,280 Job 103 $53,000 27,100 8,943 Job 104 $53,000 40,000 13,200 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials. $8,000; direct labor. $2,900; and overhead, $957. Jobs 103 and 104 were started in June....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Job 102 Job 103 Job 104 Direct materials$25,000 $49,000 $55,000 Direct labor 17,000 25,400 40,000 Overhead applied 7,650 11,430 18,000 Job 102 was started in production in May and the following costs were assigned to it in May direct materials. $9.000 direct labor $3,200, and overhead. 51.440. Jobs 103 and 104 were started in June. Overhead...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $39,000 13,000 5,070 Job 103 $61,000 27,700 10,803 Job 104 $62,000 40,000 15,600 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $10,000; direct labor, $3,400; and overhead, $1,326. Jobs 103 and 104 were started in June....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $26,000 20,000 6,800 Job 103 $55,000 27,200 9,248 Job 104 $55,000 42,000 14,280 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $14,000; direct labor, $3,100; and overhead, $1,054. Jobs 103 and 104 were started in June....
as of the end of June, the job cost sheets at racing wheels Inc. show the...
as of the end of June, the job cost sheets at racing wheels
Inc. show the following total costs accumulated on three custom
jobs.
Check my work As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $41,000 17,000 7,990 Job 103 $74,000 28,500 13,395 Job 104 $53,000 45,000 21,150 Job 102 was started in production in May,...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs Direct materials Direct labor Overhead applied Job 102 $19,000 15, 000 7, 200 Job 103 $75,000 27,000 12, 960 Job 104 $54, 000 38,000 18, 240 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $15,000, direct labor, $3,800, and overhead, $1,824. Jobs 103 and...
One question with four parts: As of the end of June, the job cost sheets at...
One question with four parts:
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $27,000 12,000 3,960 Job 103 $59,000 26,000 8,580 Job 104 $58,000 44,000 14,520 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $9,000, direct labor, $3,800, and overhead, $1,254. Jobs 103 and...
please answer 1-4. Exercise 02-3 Analyzing of cost flows LO C2 As of the end of...
please answer 1-4.
Exercise 02-3 Analyzing of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $15,000 3.000 4,000 Job 103 $33,000 14,200 7,100 Job 104 $27,000 21.000 10,500 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $6,000: direct labor, $1,800;...
Exercise 15-3 Analysis of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $42,000 17,000 8,330 Job 103 $59,000 26,000 12,740 Job 104 $51,000 38,000 18,620 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $11,000; direct labor, $3,500; and overhead, $1,715....
Exercise 15-3 Analyzing of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $32,000 18,000 8,460 Job 103 $49,000 28,700 13,489 Job 104 $47,000 41,000 19,270 Job 102 was started in production in May, and the following costs were assigned to it in May, direct materials. $12,000, direct labor, $4,000, and overhead, $1.880....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $17,000 16,000 5,280 Job 103 $53,000 27,100 8,943 Job 104 $53,000 40,000 13,200 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials. $8,000; direct labor. $2,900; and overhead, $957. Jobs 103 and 104 were started in June....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Job 102 Job 103 Job 104 Direct materials$25,000 $49,000 $55,000 Direct labor 17,000 25,400 40,000 Overhead applied 7,650 11,430 18,000 Job 102 was started in production in May and the following costs were assigned to it in May direct materials. $9.000 direct labor $3,200, and overhead. 51.440. Jobs 103 and 104 were started in June. Overhead...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $39,000 13,000 5,070 Job 103 $61,000 27,700 10,803 Job 104 $62,000 40,000 15,600 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $10,000; direct labor, $3,400; and overhead, $1,326. Jobs 103 and 104 were started in June....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $26,000 20,000 6,800 Job 103 $55,000 27,200 9,248 Job 104 $55,000 42,000 14,280 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $14,000; direct labor, $3,100; and overhead, $1,054. Jobs 103 and 104 were started in June....
as of the end of June, the job cost sheets at racing wheels
Inc. show the following total costs accumulated on three custom
jobs.
Check my work As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $41,000 17,000 7,990 Job 103 $74,000 28,500 13,395 Job 104 $53,000 45,000 21,150 Job 102 was started in production in May,...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs Direct materials Direct labor Overhead applied Job 102 $19,000 15, 000 7, 200 Job 103 $75,000 27,000 12, 960 Job 104 $54, 000 38,000 18, 240 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $15,000, direct labor, $3,800, and overhead, $1,824. Jobs 103 and...
One question with four parts:
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $27,000 12,000 3,960 Job 103 $59,000 26,000 8,580 Job 104 $58,000 44,000 14,520 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $9,000, direct labor, $3,800, and overhead, $1,254. Jobs 103 and...
please answer 1-4.
Exercise 02-3 Analyzing of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $15,000 3.000 4,000 Job 103 $33,000 14,200 7,100 Job 104 $27,000 21.000 10,500 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $6,000: direct labor, $1,800;...
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