Question

Cost of a Manufactured Product-Job Costing System NOS Poldark is a contractor specializing in custom-built Jacuzzis. As of May 1, 2018, roldark has incurred the following costs for each of the jobs listed below. Poldark uses the Job Order Cost system. ENYS CARNE TRURO DM 2,100 $ 1,850 $ 800 DL 1,900 1,600 660 FOH 1,520 1,280 528 TOTAL 5,520 $ 4,730 $ 1,988 $ During May, Poldark incurs the following costs below. Poldark begins one job during the month of May (George) and completes the other three during the course of the month (Enys, Carne, and Truro). Factory Overhead is charged to jobs on the basis of $.80 per dollar of direct labor hours. ENYS CARNE TRURO GEORGE DM $ 400 $ 590 $ 1,540 $ 1,100 DL 360 920 1,900 800 288 FOH 736 1520 640 TOTAL 1048 2246 4960 2540 Determine the total cost of each of the completed jobs in the space below: 2,260x0.8 -1803 2520x.8= 2016 ENYS CARNE TRURO 2500 2440 2.340 2260 2,520 2560 1808 2016 2.048 TOTAL 6568 976 6,948 DM DL FOH 2560x. 8 = 2048

What is the total amount left in the Work in Process account at the end of may?

George:

DM:

DL:

FOH:

Total:

Answer 1

The total cost of George held in work in progress for the month ending May is as follows:

Direct Material 1,100

Direct Labour 800

FOH (0.80 of DL) 640

Total cost 2,540