Question

1. On December 1, two jobs were in process: Job No. 154 and lob No. 155. These jobs had combined direct materials costs of $9,850 and direct lahor costs of $16,100. Overhead was applied at a rate that was 75% of di cost. 2. During December, Job Nos. 156, 157, and 158 were started. On December 31, Job No. 158 was unfinished. This job had charges for direct materials $4,400 and direct labor $5,200, plus manufacturing overhead. All jo for Job No. 158, were completed in December. 3. On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $5,300. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,600. 4. Manufacturing overhead was $1,695 underapplied in December. List the letters (a) through (m) and indicate the amount pertaining to each letter. Dec. 1 Beginning balance 17,850 31 Purchases Raw Materials Inventory Ī 7,780 (a) Dec 31 Requisitions 18,325 8,255 Work in Process Inventory 38,025 (6) Dec. 31 Jobs completed Dec. 31 Ending balance Dec. 1 Beginning balance I 54,750 (0) 31 Direct materials 31 Direct labor 31 Overhead I 14,650 8,900 5,675 (0) 13500(e) Finished Goods Inventory 5,300 (9) Dec. 31 Cost of goods sold Dec. 31 Ending balance 1 Dec. 1 Beginning balance 55,450 (0) 31 Completed jobs 54,750 (h) Dec. 31 Ending balance Dec. 31 Factory wages 4,600 (1) Factory Labor 12,125 Dec. 31 Wages assigned Manufacturing Overhead 3,300 Dec. 31 Overhead applied 12,123 Dec. 31 Indirect materials 31 Indirect labor 3,2250 1,845 31 Other overhead

Answer 1

Solution: Requisition - indirect material Beg. WIP+DM+DL+OH-End WIP Beg. FG + Completed jobs-End FG 5300+54650-4600 |(17850-3300) 38025+14550+8900+6675-13500 54650 14550 f &h 55350