Lott Company uses a job order cost system and applies overhead to production on the basis...

Question

Question

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1

Open job cost sheets for Jobs 50, 51, and 52. Enter the January 1 balances on the job cost sheet for Job 50. Post all costs t

Job No. 51 Date Direct Materials Direct Labor Manufacturing Overhead Jan. 43290 27750 $ $ 43290 33300 33300 27750 $ Cost of c

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Job sheet for jan:

Job	50	51	52	Total $
Opening Balance:
Direct materials	22200			22200
Direct Labor	13320			13320
Manuf. Overhead	17760			17760
Added during Jan:
Direct materials	11100	43290	33300	87690
Direct Labor	5550	27750	22200	55500
Manuf. Overhead	7400	37000	29600	74000
Total Cost	77330	108040	85100	270470
Status	Completed	Completed	In process



Application of Manuf. Overhead to jobs = Opening Manuf . Overhead of Job 50 / Opening Direct Labor of Job 50
17760 / 13320 = $1.333333 per $1 of Direct Labor

Add a comment

Answer 2

Similar Homework Help Questions

Question 1 Lott Company uses a job order cost system and applies overhead to production on...

Question 1 Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2017, 1cb No. 50 was the only joo in process. The costs incurred prior to lanuary 1 on this job were as follows: direct materials $22.200, direct labor $13,320, and manufacturing overhead S17,760. As of January 1, Job No. 49 had been completed at a cost of $9,900 and was part of finished goods inventory....
Lott Company uses a job order cost system and applies overhead to production on the basis...

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $22,600, direct labor $13,560, and manufacturing overhead $18,080. As of January 1, Job 49 had been completed at a cost of $101,700 and was part of finished goods inventory. There was a $16,950...
Lott Company uses a job order cost system and applies overhead to production on the basis...

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,200, direct labor $13,920, and manufacturing overhead $18,560. As of January 1, Job 49 had been completed at a cost of $104,400 and was part of finished goods inventory. There was a $17,400...

Lott Company uses a job order cost system and applies overhead to production on the basis...

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21,600, direct labor $12,960, and manufacturing overhead $17,280. As of January 1, Job 49 had been completed at a cost of $97,200 and was part of finished goods inventory. There was a $16,200...
Lott Company uses a job order cost system and applies overhead to production on the basis...

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21,200, direct labor $12,720, and manufacturing overhead $16,960. As of January 1, Job 49 had been completed at a cost of $95,400 and was part of finished goods inventory. There was a $15,900...
Lott Company uses a job order cost system and applies overhead to production on the basis...

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,000, direct labor $12,000, and manufacturing overhead $16,000. As of January 1, Job 49 had been completed at a cost of $90,000 and was part of finished goods inventory. There was a $15,000...

Lott Company uses a job order cost system and applies overhead to production on the basis...

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2017, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,200, direct labor $13,920, and manufacturing overhead $18,560. As of January 1, Job No. 49 had been completed at a cost of $104,400 and was part of finished goods inventory. There was...
Lott Company uses a job order cost system and applies overhead to production on the basis...

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,400, direct labor $14,040, and manufacturing overhead $18,720. As of January 1, Job 49 had been completed at a cost of $105,300 and was part of finished goods inventory. There was a $17,550...
Lott Company uses a job order cost system and applies overhead to production on the basis...

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $21,600, direct labor $12,960, and manufacturing overhead $17,280. As of January 1, Job 49 had been completed at a cost of $97,200 and was part of finished goods inventory. There was a $16,200...

Lott Company uses a job order cost system and applies overhead to production on the basis...

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $23,400, direct labor $14,040, and manufacturing overhead $18,720. As of January 1, Job 49 had been completed at a cost of $105,300 and was part of finished goods inventory. There was a $17,550...

Lott Company uses a job order cost system and applies overhead to production on the basis...

Homework Answers