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Prepare Job-Order Cost Sheets, Predetermined Overhead Rate, Ending Balance of WIP, Finished Goods, and COGS At the beginning
Required: 1. Calculate the overhead rate based on direct labor cost. 2. Prepare a brief job-order cost sheet for the four job
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Answer #1
Job 86 Job 87
Applied OH                  888               2,220
Direct Labor               1,200               3,000
74.00% 74.00%
1 74.00%
2 Job 86 Job 87 Job 88 Job 89
Beginning Balance, March 1               6,888               6,820                      -                        -  
Direct Material               3,000               7,000               2,100               1,500
Direct Labor                  800               6,000                  900                  500
Applied OH                  592               4,440                  666                  370
Total March 31            11,280            24,260               3,666               2,370
Status Completed Completed WIP Completed
Status 2 Inventory Sold Inventory
3 Work in Progress               3,666 Job 88
Finished Goods            13,650 (Job 86&89)
4 COGS for March:            24,260 (Job 87)
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