Question

apter 21 E2-11 (Algo) Calculating Cost of Jobs in Work in Process, Finished Goods, and Cost of Goods Sold [LO 2- Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was started during April, but not completed. The job cost sheets revealed the following costs for April Job Job $11.5 1.600 Jobs $1,200 7,200 7,200 Cost of Jobs in process. 4/1/2018 Direct Materials Used Direct Labor Applied Manufacturing Overhead 7.800 Required: If no other jobs were started, completed, or sold, determine the balance in each of the following accounts at the end of April a Work in Process Finished Goods Cost of Goods Sold

Answer 1

Job Cost sheet

	Job A	Job B	Job C
Beginning balance	11600	1200
Direct material	1600	7200	7800
Direct labor	9200	7200	2600
Overhead	6900	5400	1950
Total	29300	21000	12350

Balance

Work in process	12350
Finished goods	21000
Cost of goods sold	29300