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Barefoot Running​ Company's work in process inventory on June 1 has a balance of​ $22,700 representing...

Barefoot Running​ Company's work in process inventory on June 1 has a balance of​ $22,700 representing Job No. 265. During​ June, $50,100 of direct materials were requisitioned for Job No. 265 and​ $35,900 of direct labor cost was incurred on Job No. 265. Manufacturing overhead is allocated at​ 115% of direct labor cost. Actual manufacturing overhead costs incurred in June amounted to​ $41,300. No new jobs were started during June. Job No. 265 is completed on June 28. What is the total cost assigned to Job No.​ 265?

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Answer #1

Total cost assigned to Job no 265= $149,985

Beginning work in process

$      22,700.00

Add: Cost added during the period

Direct material

$ 50,100.00

Direct labor

$ 35,900.00

Manufacturing overheads applied

$ 41,285.00

Total Current cost added

$ 1,27,285.00

Total Cost applied to job no 265

$ 1,49,985.00

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