Question

Help Save & Exit Homework 2 Check Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hout, and the predetermined overhead rate is $15 per direct labor hout. The company worked on three jobs during April Jobs A and B were in process at the beginning of April Job A was completed and delivered to the customer. Job B was completed during Apr, but not sold. Job C was started during April, but not completed. The job cost sheets revealed the following costs for April: 909 Suipped $12.000 $1.000 Cost of Job in process, 4/1/2016 Direct Materials Used 10.000 8,000 3,000 Applied Manufacturing Overhead Reference Required: If no other jobs were started, completed, or sold, determine the balance in each of the following accounts at the end of April a. Work in Process b. Finished Goods Cost of Goods Sold

Answer 1

Answer: @) wolk in procey Jobc) :- - Direct Material + labort overhead applied = 9000 + 3,000 + (3000 x 15/20) = $14,250 .: Work in prours (Jobc) = $14,250 Direct labor hours = 3000/20 = 150 hours overhead applied = 150 x 15 = $2,250 Finished goods (Job B)3- = 1000 + 8000+8000 8000x15/20) =1000+8000 48000 + 6000 = $ 23000 Finished goods (Job B) =$ 23000 (c) est of goody sold (Job A): = 12000 +2000 + 10.000 +10,000x15/20) = 12000+2000 + 10.000 + 7,500 - $ 31,500 Cost of goody sold (J06A) = $31,500