Question

Ar the beginning of June, Rhone Company had two jobs in process, Job 44 and Job 45, with the following accumulated cont information Job 44 Job 45 $1,200 Direc labor 1,700 2,900 1.596 Applied overhead Balance June 1 935 57.635 55,895 During June, two more jobs (46 and 47) were started. The following direct materials and direct labor costs were added to the four jobs during the month of June Job 44 Job 45 Job 46 Job 47 Direct materials $2.250 $7.140_$1.650 1.850 840 6.380 9800 80 Direct labor At the end of June, Jobs 44 45 and 47 were completed. Only Job 45 was sold. On dus he buce in Finished Goods was zete. c materials and direction in June Required: cacur me veta vare based on director Co und three decimal places Prepare a 100-oder cost sheer for the four jobs. Show me balance as of June a A lyoverned to the fourjoos for the month of June, and show the ang balances Calculate the ending celances of Work n Process and Finished Goods as or une 30 Oaculate the cost of Goods Soig for one

Answer 1

Solution: 1) overhead rate=Applied overhead/direct labor cost 935/1700 55.000% 2) Job 44 Job 45 Job 46 Job 47 Balance, June 1 7635 5695 0 0 Direct materials 2,250 7,140 1,650 1,850 Direct labor 840 6,380 960 660 Overhead applied (Direct labor cost * overhead rate) || 462 3509 528 363 Total June 30 11187 22724 3138 2873 Work in Process Job 46 3138 Finished Goods Job 44 Job 45 Job 47 Total 11187 22724 2873 36784 cost of goods sold Job 46 22724